We investigate the interaction between labour and credit market imperfections for equilibrium unemployment in the presence of profit sharing. In a partial equilibrium with exogenous outside options, increased bargaining power of banks has adverse employment effects. In a general equilibrium with...

Household saving ratios in the Nordic countries are very low by international standards and have declined markedly during the 1980s. Aggregate quarterly time-series data for the period 1970-89 are used to study the development of household saving behavior over time. The evidence suggests that...

Household saving behavior in the Nordic countries is studied by trying to figure out the effects of tax factors on its level and fluctuations. By and large, the lower level of the household saving ratio in the Nordic countries relative to the rest of the OECD can be accounted for by higher...

According to the existing literature, capital taxes should not be imposed in the presence of optimal profit taxation in either unionised or competititive labour markets. We show that this conclusion does not hold for an economy with both competitive and unionised sectors, where the competitive...

We consider the issue of steady-state optimal factor taxation in a Ramsey-type dynamic general equilibrium setting with two distinct distortions: i) taxes on capital and labour are the only available tax instruments for raising revenues, and ii) labour markets are subject to a static...

This paper presents a new approach to study the optimal rotation policy with amenity valuation under uncertainty. We first postulate the stochastic forest value and assume plausibly that monetary value of amenities is a continuous and non-negative function of forest value thus presenting the...