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A Model to Evaluate Vehicle Emission Incentive Policies in Japan

Fullerton, Don - 2014

Using three years of data from the 47 prefectures of Japan, we estimate behavior of households who simultaneously make discrete decisions about vehicle ownership and continuous decisions about driving distance. We use the estimated parameters to calculate elasticities and to simulate the effects...

Persistent link: https://www.econbiz.de/10013050156

The Two-Part Instrument in a Second-Best World

Fullerton, Don; Wolverton, Maryann - 2021

transaction such as output or income and a subsidy to a different market transaction that is a clean alternative to pollution. It … each tax and subsidy in a general equilibrium model with other tax distortions, and we compare these to the rates in a … first-best model. The tax-subsidy combination is explained in terms of a tax effect, an environmental effect, and a revenue …

Persistent link: https://www.econbiz.de/10013212602

Fullerton, Don; Mohr, Robert D. - 2021

Because of difficulties measuring pollution, many prior papers suggest a subsidy to some observable method of reducing … make an additional important point. In each case, we show that welfare under the suggested subsidy can be increased by the … addition of an output tax. While the suggested subsidy reduces damage per unit of output, it also decreases the firm's cost of …

Persistent link: https://www.econbiz.de/10013230174

The Case for a Two-Part Instrument : Presumptive Tax and Environmental Subsidy

Fullerton, Don; Wolverton, Maryann - 2021

combination of a presumptive tax and an environmental subsidy. A presumptive tax is a tax that is imposed under the presumption … that all production uses a dirty technology or all consumption goods become waste. The environmental subsidy is then … usefulness of the tax-subsidy combination, we review conceptual considerations regarding its implementation and practical …

Persistent link: https://www.econbiz.de/10013227504

Jump Starting the Euro Area Recovery : Would a Rise in Core Fiscal Spending Help the Periphery?

Blanchard, Olivier J. - 2015

We show that a fiscal expansion by the core economies of the euro area would have a large and positive impact on periphery GDP assuming that policy rates remain low for a prolonged period. Under our preferred model specification, an expansion of core government spending equal to one percent of...

Persistent link: https://www.econbiz.de/10013018304

Fiscal Increasing Returns, Hysteresis, Real Wages and Unemployment

Blanchard, Olivier J.; Summers, Lawrence H. - 2021

European unemployment is widely regarded as a problem of excessive real wages. This view as it is usually expressed carries the disturbing implication that there is a sharp conflict between the interests of those currently employed and the unemployed because it suggests that increases in...

Persistent link: https://www.econbiz.de/10013218438

The Quality of Labor Relations and Unemployment

Blanchard, Olivier J.; Philippon, Thomas - 2021

In countries where wages are primarily set by collective bargaining, the effects on unemployment of changes in the economic environment depend crucially on the speed of learning of unions. This speed of learning is likely to depend in turn on the quality of the dialogue that unions have with...

Persistent link: https://www.econbiz.de/10013224217

Wage Dynamics : Reconciling Theory and Evidence

Blanchard, Olivier J.; Katz, Lawrence F. - 2021

U.S. macroeconomic evidence shows a negative relation between the rate of change of wages and unemployment. In contrast, most theories of wage determination imply a negative relation between the level of wages and unemployment. In this paper, we ask whether one can reconcile the empirical...

Persistent link: https://www.econbiz.de/10013225129

European Unemployment : The Evolution of Facts and Ideas

Blanchard, Olivier J. - 2021

In the 1970s, European unemployment started increasing. It increased further in the 1980s, to reach a plateau in the 1990s. It is still high today, although the average unemployment rate hides a high degree of heterogeneity across countries. The focus of researchers and policy makers was...

Persistent link: https://www.econbiz.de/10013248147

The Economic Future of Europe

Blanchard, Olivier J. - 2021

After three years of near stagnation, the mood in Europe is definitely gloomy. Many doubt that the European model has a future. In this paper, I argue that things are not so bad, and there is room for optimism. Over the last thirty years, productivity growth has been much higher in Europe than...

Persistent link: https://www.econbiz.de/10013243948