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作者：BRUGIAVINI, A
作者单位：University of London; London School Economics & Political Science
摘要：This paper considers the question of why the annuity market is thin. A model is presented in which consumers have the option of purchasing annuities before discovering their survival probability; they can then recontract the initial choice after the resolution of this form of uncertainly. It is shown that consumers purchase insurance against their own survival-probability type at a very young age and do not undertake further transactions. This characterization is then used to analyze the effec...
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作者：CHIU, WH
摘要：In an overlapping generations economy of Karni and Zilcha (1989), a fully-funded social security program is shown to reduce the aggregate levels of output, consumption, employment, and capital when the social security and the existing private annuities are equally unfair (actuarially).
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作者：IRVINE, IJ; SIMS, WA
作者单位：Concordia University - Canada
摘要：This paper analyzes the question of how to appropriately tax alcoholic beverages at a disaggregated level. Using the theory of tax reform, the social cost of raising revenue from different alcoholic beverages is calculated. The externality associated with alcohol consumption is explicitly modeled. The problem is approached by building a multistage budgeting model of expenditure which is necessitated by the lack of elasticity information at the required level of disaggregation. The model is app...
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作者：KEEN, M; LAHIRI, S
作者单位：Queens University - Canada
摘要：This paper examines the strategic use of domestic tax instruments and the welfare effects of multilateral domestic tax reform in a model of international Cournot oligopoly. The welfare effects of commodity tax harmonization (appropriately defined) are precisely as in the competitive case: it is always potentially Pareto-improving, and starting from the Nash equilibrium in tax rates is Pareto-improving without any need for compensation. A mutual reduction of production subsidies benefits the ef...
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作者：DUNCOMBE, W; YINGER, J
作者单位：Syracuse University
摘要：This paper analyzes returns to scale in public production. Existing studies fail to differentiate among three dimensions of scale: service quality, the level of governmental activity, and the number of people served. A fourth dimension, economies of scope, is need for agencies that provide multiple services. This paper provides a formal definition of returns to scale for each dimension. This framework is applied to fire protection, using a translog cost function with two services, fire prevent...
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作者：BOVENBERG, AL
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：Using an intertemporal equilibrium model with overlapping generations, this paper explores how intergenerational and international distributional effects, in addition to intertemporal efficiency impacts, affect the macroeconomic consequences of investment-promoting policies. Whereas the intergenerational distributional effects may weaken the initial expansionary effects of an investment tax credit, they strengthen the short-run positive effects on domestic demand exerted by a lower corporate t...
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作者：BLACKORBY, C; DONALDSON, D
摘要：This note investigates recent claims by Lewbel regarding the use of equivalence scales in welfare analysis and finds them wanting. We go on to show that scaled income (income divided by the equivalence scale of the household) is an ordinal index of household well-being if and only if preferences are homothetic. Furthermore, we show that these scaled incomes can rank projects consistently with a Pareto-inclusive Bergson-Samuelson social-welfare function if and only if preferences satisfy full-h...
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作者：MAGNAC, T; VERDIER, T
作者单位：INRAE
摘要：This paper considers the welfare implications of adoption of a new technology when this technology is characterized by costs of adaptation and some 'localized learning' effects. A two-period model is developed to represent the 'adoption game' between firms in a duopolistic framework. Optimal social 'patterns' of adoption are compared with private patterns emerging as equilibria of the game. It is shown that differences between the two patterns are due first to the shape of the demand function ...
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作者：MANSOORIAN, A; MYERS, GM
作者单位：University of Waterloo; Dalhousie University
摘要：This paper examines the efficiency properties of an economy characterized by strategically competing regions and individuals with varying degrees of attachment to home, in an otherwise standard fiscal externality setting. Regional authorities may make interregional transfers in purchasing preferred populations. However, there is a range of distributions of resources over which neither region makes transfers. Nevertheless, all equilibrium allocations resulting from the Nash behavior of regional...
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作者：BLACKORBY, C; LAISNEY, F; SCHMACHTENBERG, R
作者单位：University of Mannheim; University of British Columbia; University of Bonn; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW)
摘要：A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that are computed at some reference price vector, and an aggregator with these equivalent incomes as arguments in place of a social welfare function. This paper investigates the impact of the choice of the reference price vector on the results of such exercises, distinguishing the case of individualized prices from the constrained case where all individuals face the same price vect...
