Neither income, consumption, nor wealth is an "ideal" tax base, or one that plausibly identifies what one really should want to tax. Rather, they are best justified as imperfect stand-ins for some underlying (but unobservable) metric of inequality that may be relevant to distributive justice...

This paper presents marginal effective tax rates (METRs) for a number of physical and intangible assets and for a number of funding sources. The assets include machinery, buildings, inventories, investments in short-lived R&D (that is, investments whose returns last only a few years) and...

In this paper we present some numerical simulations with the MacGEM model to evaluate the consequences of the recent Marrakesh agreements and the defection of the USA for the Kyoto Protocol. MacGEM is a global marginal abatement cost model for carbon emissions from fossil fuel use based on the...

This paper examines recent theoretical developments of the theory of coalition stability. It focuses on the relationship between the incentives to defect from a coalition, the size of the resulting equilibrium coalition structure, and the different assumptions on membership rules, coalition...