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Incomplete Environmental Regulation, Imperfect Competition, and Emissions Leakage

Fowlie, Meredith - 2008

. In a straightforward application of the theory of the second best, I show that incomplete regulation can welfare dominate …For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … regulated producers are less polluting than their unregulated ounterparts, emissions under incomplete regulation can exceed the …

Persistent link: https://www.econbiz.de/10012769643

Profiting from Regulation : An Event Study of the EU Carbon Market

Bushnell, James B. - 2014

permits. In this paper, we examine the effect of this type of environmental regulation on profits. In particular, changes in …

Persistent link: https://www.econbiz.de/10013070488

Market Reactions to Export Subsidies

Desai, Mihir A.; Hines, James R. - 2021

This paper analyzes the economic impact of export subsidies by investigating stock price reactions to a critical event in 1997. On November 18, 1997, the European Union announced its intention to file a complaint before the World Trade Organization (WTO), arguing that the United States provided...

Persistent link: https://www.econbiz.de/10013223076

The Division and Size of Gains from Liberalization of Service Networks

Bhattarai, Keshab; Whalley, John - 2022

This paper emphasizes the different nature of cross border liberalization in network related services, such as telecoms, compared to liberalization in goods. In the presence of network externalities, it argues that if two disjoint country service networks involving a small and large country are...

Persistent link: https://www.econbiz.de/10013322328

Tax Advantages and Imperfect Competition in Auctions for Municipal Bonds

Garrett, Daniel G. - 2017

use the model to analyze a recent non-tax regulation that affects entry into municipal bond auctions …

Persistent link: https://www.econbiz.de/10012954921

Estimating Dynamic Models of Imperfect Competition

Bajari, Patrick L.; Benkard, C. Lanier; Levin, Jonathan - 2021

We describe a two-step algorithm for estimating dynamic games under the assumption that behavior is consistent with Markov Perfect Equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated. In the second step, the remaining structural...

Persistent link: https://www.econbiz.de/10013218730

International Dimensions of Optimal Monetary Policy

Corsetti, Giancarlo; Pesenti, Paolo A. - 2021

This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies, with monopolistic firms that set prices one period in advance. Strict adherence to inward-looking policy objectives such as the stabilization of domestic output cannot be optimal...

Persistent link: https://www.econbiz.de/10013221855

Internal Increasing Returns to Scale and Economic Growth

List, John A.; Zhou, Haiwen - 2021

This study develops a model of endogenous growth based on increasing returns due to firms' technology choices. Particular attention is paid to the implications of these choices, combined with the substitution of capital for labor, on economic growth in a general equilibrium model in which the...

Persistent link: https://www.econbiz.de/10013225176

Imperfect Competition and the Effects of Energy Price Increases on Economic Activity

Rotemberg, Julio; Woodford, Michael - 2021

We show that modifying the standard neoclassical growth model by assuming that competition is imperfect makes it easier to explain the size of the declines in output and real wages that follow increases in the price of oil. Plausibly parameterized models of this type are able to mimic the...

Persistent link: https://www.econbiz.de/10013226560

Empirical Research on Trade Liberalization with Imperfect Competition : a Survey

Richardson, J. David - 2021

calculated from trade liberalization, although such losses are quite possible in theory, as a large recent literature has shown …

Persistent link: https://www.econbiz.de/10013227216