This paper analyzes the effect of taxation on the intertemporal allocation of an exhaustible resource. A general framework within which a large variety of taxes can be analyzed is developed and then applied to a number of specific taxes. It is shown that there exists a pattern of taxation which...

This paper articulates and applies frameworks for examining whether consumption is excessive. We consider two criteria for the possible excessiveness (or insufficiency) of current consumption. One is an intertemporal utility-maximization criterion: actual current consumption is deemed excessive...

This article analyses the response of the European Union (EU) to the financial crisis in 2008 under the headings of liquidity, recapitalization and ownership of banks, macroeconomic policies and regulatory policy. It is argued that although at the onset of the crisis governments tended to focus...

At a late stage in preparing this work, we felt responding to the view of all partners that, before analyzing the consequences of asset situations for fertility, migration or environment, we should present, and to some extent explain, some facts about the size, composition, and distribution of...