remedying the inefficiencies associated with the consumption externalities generated by the status goods, is made ineffective by …

internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good …

Much of the literature on externalities has considered taxes and direct regulation as alternative policy instruments … use of taxes and regulation in combination, to control externalities arising from individual consumption behaviour. We … consider cases where taxes are either imperfectly differentiated to reflect individual differences in externalities, or where …

externalities appear along the lifecycle. In a simple model, we show that it may be efficient to subsidize innovative firms in their … early stages or to protect mature firms from competition to appropriate these externalities. However, non …-benevolent politicians may not choose efficient policies. Real-world examples indicate that politicians tend to concentrate on externalities …

. We identify an important asymmetry between positive and negative externalities and show that centralization may not be … efficient in economies with positive externalities even when regions are identical and centralization does not entail a loss of … accountability. We also show that decentralization can only Pareto dominate centralization in economies with negative externalities. …

A pay-as-you-go pension scheme is associated with positive externalities of having children and providing them with …

We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …