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• On the ineffectiveness of tax policy in altering long-run growth: Harberger's superneutrality conjecture AI翻译
  作者：Mendoza, EG; MilesiFerretti, G; Asea, P
  作者单位：International Monetary Fund; Center for Economic & Policy Research (CEPR); University of California System; University of California Los Angeles; National Bureau of Economic Research
  摘要：In 1964 Harberger conjectured that, although theory predicts that changes in tax rates affect investment and growth in the long-run, in practice tax policy is an ineffective instrument to influence growth. This paper provides theoretical and empirical evidence in favor of this view. The growth effects of tax policy in the class of endogenous growth models driven by human capital accumulation are examined, and numerical simulations of these models confirm the results Harberger predicted. Cross-...
• On the uses of club theory: Preface to the club theory symposium AI翻译
  作者：Glazer, A; Niskanen, E; Scotchmer, S
• A neglected welfare cost of monopoly - and most other product market distortions AI翻译
  作者：Browning, EK
  摘要：A neglected effect of monopoly is the distortion in the quantity of resources supplied. Monopoly not only affects the economy's output mix, it also results in factor prices that are below social marginal value products. This latter distortion is shown to be quantitatively important when other policies, such as taxes on labor earnings, also depress factor prices. Under plausible conditions, the welfare cost due to this distortion of monopoly is shown to be between five and fifteen times larger ...
• Rent assistance and housing demand AI翻译
  作者：Koning, RH; Ridder, G
  作者单位：Tinbergen Institute
  摘要：We examine the effect of a rent subsidy program, Rent Assistance, on the demand for rental housing in The Netherlands. The RA program lowers the marginal price of housing services if households consume more than a minimal amount. To estimate the effect of the program we develop a structural model of housing demand that takes account of the partial take-up of the subsidy. We estimate a reduced form that is compatible with the structural model and we test the restrictions that the structural mod...
• Fiscal competition and the pattern of public spending AI翻译
  作者：Keen, M; Marchand, M
  作者单位：University of London; London School Economics & Political Science
  摘要：Much attention has been given to the impact of fiscal competition on the level of public expenditure, but relatively little to the impact on its composition. Using a broadly familiar and reasonably rich model of fiscal competition in the presence of mobile capital, this paper establishes a systematic bias in public spending patterns: starting from the non-cooperative equilibrium, and holding tax rates constant, welfare would be improved by a coordinated reduction in the provision of local publ...
• Minimum wages and the incentives for skill formation AI翻译
  作者：Agell, J; Lommerud, KE
  作者单位：University of Bergen
  摘要：We show that minimum wages may have beneficial effects on human capital allocation in a situation when the marginal product of skilled labor is shared between firm and worker according to bargaining strength. Firms prefer more productive workers to less productive ones, and workers that do not match up to a certain productivity floor are not hired. A minimum wage increases the productivity requirement. To hang on to the primary sector, workers of intermediate talent are then induced to acquire...
• Conspicuous consumption, snobbism and conformism AI翻译
  作者：Corneo, G; Jeanne, O
  作者单位：Institut Polytechnique de Paris; Ecole des Ponts ParisTech
  摘要：We develop a model in which consumers purchase a conspicuous good in order to signal high income and thereby achieve greater social status. In equilibrium, the signalling value of conspicuous consumption depends, in an identifiable way, on the number of consumers, and consumer behaviour is characterized by either snobbism or conformism. The market demand curve for the conspicuous good may exhibit a positive slope if consumers are conformist. We derive some unconventional policy implications co...
• Bankable permits for the control of environmental pollution AI翻译
  作者：Kling, C; Rubin, J
  作者单位：Iowa State University; University of Tennessee System; University of Tennessee Knoxville
  摘要：Intertemporal trading of emission permits (banking) is often identified as one of three promising market mechanisms for controlling pollution (along with averaging and trading). Surprisingly, the efficiency properties of permit banking systems have not been investigated. Using a simple optimal control model, this paper investigates firms' incentives for banking or borrowing emission permits and compares the emission and output streams firms would choose with the socially optimal solution. We f...
• Progressive taxation and income inequality in dynamic competitive equilibrium AI翻译
  作者：Sarte, PDG
  摘要：This paper establishes the existence of a non-degenerate distribution of income in a simple dynamic economy when agents, who are heterogeneous in their rates of impatience, face a progressive tax system. In this dynamic setting, income inequality can vary positively with the degree of tax progressivity. Moreover, the inherent heterogeneity in agents' behavior can explain why measures of inequality, such as the standard deviation of income or Atkinson's Gini, tend to be dynamically much more sl...
• On price-taking equilibria in club economies with nonanonymous crowding AI翻译
  作者：Scotchmer, S
  摘要：Competitive equilibrium in a coalition production economy or a club economy typically does not exist when there is free entry, for two reasons. First, there may be an ''integer problem'', as is familiar from club theory with anonymous crowding. Second, ''optimal'' groups may have different compositions from the population, and then even if there is no integer problem, it may be impossible to partition the population into optimal groups. I define a notion of approximate equilibrium and show tha...