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This paper analyzes greenhouse gas emissions that build up an atmospheric stock which depreciates over time. Weakly renegotiation-proof and subgame perfect equilibria in a game of international emission reduction exist if countries put a sufficiently high weight on future payoffs, even though...
Persistent link: https://www.econbiz.de/10009151603
This paper analyzes greenhouse gas emissions that build up an atmospheric stock which depreciates over time. Weakly renegotiation- proof and subgame perfect equilibria in a game of international emission reduction exist if countries put a sufficiently high weight on future payoffs, even though...
Persistent link: https://www.econbiz.de/10009369478
If an emission reduction agreement with participation of all players is not enforceable because politicians are too myopic or not able to commit themselves to sustainable policies or costs of reducing emissions are too high, strategic investments in research and development (R&D) of green...
Persistent link: https://www.econbiz.de/10009369489
Greenhouse gas emissions build up an atmospheric stock which depreciates over time. We identify weakly renegotiation-proof equilibria with full participation in a game of international emission reduction. Treaties are easier to reach for long-lived than for short-lived gases.
Persistent link: https://www.econbiz.de/10010572259
Opportunistic politicians use the composition of public debt as a signal for competence. A competent government will not issue long-term nominal debt, as optimal to balance the budget, but long-term inflation-indexed debt. We consider politicians that pursue the objective of a balanced budget...
Persistent link: https://www.econbiz.de/10011199888
Opportunistic politicians use the composition of public debt as a signal for competence. A competent government will not issue long-term nominal debt, as optimal to balance the budget, but long-term inflation-indexed debt. We consider politicians that pursue the objective of a balanced budget...
Persistent link: https://www.econbiz.de/10009369487
This paper analyzes a profit-maximizing private airport with market power in providing aeronautical services. Our model implies that airports with ample capacity may voluntarily abstain from abusing their market power if non-aeronautical revenues are airports’ main source of income. In this...
Persistent link: https://www.econbiz.de/10010902428
Landing fees at airports are regulated almost all over the world since airports are assumed to abuse their market power. We find that monopolistic airports have an incentive to restrain landing fees when they generate additional non-aviation revenues and that the optimal landing fee decreases in...
Persistent link: https://www.econbiz.de/10009369479
This paper analyzes a non-congested private airport that possesses market power in providing aeronautical services. We find that the profit-maximizing landing fee decreases in the degree of complementarity of aviation and non-aviation. Furthermore, our model implies that airports will not take...
Persistent link: https://www.econbiz.de/10009211368
This article shows that in the presence of environmental externalities, it may be welfare enhancing to overcome a technological lock-in by a dead- end technology through governmental intervention. It is socially desirable to subsidize a dead-end technology if its environmental externality is...
Persistent link: https://www.econbiz.de/10009323218