-
作者：Harstad, Bard
作者单位：University of Oslo; National Bureau of Economic Research
摘要：Free-riding is at the core of environmental problems. If a climate coalition reduces its emissions, world prices change and nonparticipants typically emit more; they may also extract the dirtiest type of fossil fuel and invest too little in green technology. The coalition's second-best policy distorts trade and is not time consistent. However, suppose that the countries can trade the rights to exploit fossil-fuel deposits: As soon as the market clears, the above-mentioned problems vanish and t...
-
作者：Dahlberg, Matz; Edmark, Karin; Lundqvist, Helene
作者单位：Uppsala University
摘要：This paper investigates the causal link between the ethnic diversity in a society and its inhabitants' preferences for redistribution. We exploit exogenous variation in immigrant shares stemming from a nationwide program placing refugees in municipalities throughout Sweden during 1985-94 and match data on refugee placement to panel survey data on inhabitants of the receiving municipalities. We find significant, negative effects of increased immigration on the support for redistribution. The ef...
-
作者：Sargent, Thomas J.
作者单位：New York University
摘要：Under the Articles of Confederation, the central government of the United States had limited power to tax. Therefore, large debts accumulated during the US War for Independence traded at deep discounts. That situation framed a US fiscal crisis in the 1780s. A political revolution-for that was what scuttling the Articles of Confederation in favor of the Constitution of the United States of America was-solved the fiscal crisis by transferring authority to levy tariffs from the states to the fede...
-
作者：Coibion, Olivier; Gorodnichenko, Yuriy
作者单位：William & Mary; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：A lot. We derive common and conflicting predictions from models in which agents face information constraints and then assess their validity using surveys of consumers, firms, central bankers, and professional forecasters. We document that mean forecasts fail to completely adjust on impact to shocks, leading to statistically and economically significant deviations from the null of full information. The dynamics of forecast errors after shocks are consistent with the predictions of models with i...
