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作者：Keohane, Nathaniel; Van Roy, Benjamin; Zeckhauser, Richard
作者单位：Yale University; Stanford University; Harvard University
摘要：We consider a class of problems, which we call SFQ problems, in which both stocks and flows can be controlled to promote the quality of a valued resource, such as environmental quality or public infrastructure Under the optimal policy, periodic restoration of the stock of quality complements positive but variable abatement of the flow of damages. When deterioration is more rapid or highly variable, or when abatement is more expensive relative to restoration, the optimal policy relies relativel...
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作者：Devereux, Michael P.; Griffith, Rachel; Simpson, Helen
作者单位：University of London; London School Economics & Political Science; University of Oxford; University of London; University College London; University of Oxford; University of Oxford
摘要：We examine whether discretionary government grants influence where domestic and multinational firms locate new plants, and how the presence of agglomeration externalities interacts with these policy instruments. We find that a region's existing industrial structure has an effect on the location of new entrants. Grants do have a small effect in attracting plants to specific geographic areas, but importantly, we find that firms are less responsive to government subsidies in areas where there are...
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作者：Zamac, Jovan
作者单位：Uppsala University
摘要：This study compares alternative designs of an unfunded pension system. Convex combinations between a fixed contribution rate and a fixed benefit rate are considered. The objective is to maximize the expected ex ante welfare under stochastic fertility. The model is a three-period CGE framework where the financing of education and effects on factor prices are accounted for. Factor prices depend on the degree of capital mobility. For low degrees of capital mobility, it is optimal to have a fixed ...
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作者：Fullerton, Don; Heutel, Garth
作者单位：University of Texas System; University of Texas Austin
摘要：We study the distributional effects of a pollution tax in general equilibrium, with general forms of substitution where pollution might be a relative complement or substitute for labor or for capital in production. We find closed form solutions for pollution, output prices, and factor prices. Various special cases help clarify the impact of differential factor intensities, substitution effects, and output effects. Intuitively, the pollution tax might place disproportionate burdens on capital i...
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作者：Drazen, Allan; Limao, Nuno; Stratmann, Thomas
作者单位：University System of Maryland; University of Maryland College Park; George Mason University
摘要：The perceived importance of special interest group money in election campaigns motivates widespread use of caps on allowable contributions. We present a bargaining model in which the effect of a cap that is not too stringent on the amount a lobby can contribute improves its bargaining position relative to the politician. It thus increases the payoff from lobbying, which will therefore increase the equilibrium number of lobbies when lobby formation is endogenous. Caps may then also increase agg...
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作者：Devereux, M. P.; Lockwood, B.; Redoano, M.
作者单位：University of Warwick; Centre for Economic Policy Research - UK
摘要：This paper provides a simple but general theoretical framework for analyzing simultaneous vertical and horizontal competition in excise taxes, which includes several previous contributions as special cases. It allows for both elastic individual demand for the taxed good, and cross-border shopping (and smuggling). It then estimates equations informed by the theory on a panel of US state and federal excise taxes on cigarettes and gasoline. The results are generally consistent with the theory, wh...
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作者：Song, Jae G.; Manchester, Joyce
摘要：This paper examines the labor force activity and timing of benefit claims of workers aged 65-69 in response to the removal of the retirement earnings test in 2000. We use the 1% sample of longitudinal Social Security administrative data that covers the period from 4 years before to 4 years after the removal of the test. Using a reduced-form quantile regression method, we find that effects on earnings are limited to workers with earnings just around the test threshold and above, as predicted by...
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作者：West, Sarah E.; Williams, Roberton C., III
作者单位：University of Texas System; University of Texas Austin; Macalester College; University of Texas System; University of Texas Austin
摘要：This study estimates parameters necessary to calculate the optimal second-best gasoline tax, most notably the cross-price elasticity between gasoline and leisure. Prior theoretical work indicates the importance of this elasticity, but despite this, almost none of the prior studies of commodity taxation (and none of the studies on second-best environmental regulation) actually estimate it. Using household data, we find that gasoline is a relative complement to leisure, and thus that the optimal...
