Search Results - subject_exact:"Second best"

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Misallocating misallocation?

Ghatak, Maitreesh; Mookherjee, Dilip - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015607010

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Misallocating misallocation?

Ghatak, Maitreesh; Mookherjee, Dilip - 2025

Book / Working Paper

The welfare economics of oil exploration

Coulomb, Renaud; Agrain, France d'; Henriet, Fanny - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015560609

A note on the origins of The General Theory of Second Best : the accounts of Kelvin John Lancaster, Richard George Lipsey and Harry Gordon Johnson

Gradoz, Julien - 2025

In welfare economics, the theory of second best is inextricably linked to an article by Richard George Lipsey and Kelvin John Lancaster, published in 1956 in the Review of Economic Studies. The publication of this article was encouraged by Harry Gordon Johnson, who was a member of the journal's...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015205323

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A note on the origins of The General Theory of Second Best: The accounts of Kelvin John Lancaster, Richard George Lipsey and Harry Gordon Johnson

Gradoz, Julien - 2025

Book / Working Paper

Optimal climate policy, distortionary taxation, and public debt

Aloui, Rym; Bouakez, Hafedh - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015466887

The macroeconomics of clean energy subsidies

Casey, Gregory; Woongchan, Jeon; Traeger, Christian - 2025 - This version: July 2025

We study clean energy production subsidies in a quantitative climate-economy model. Clean energy production subsidies decrease carbon emissions if and only if they lower the marginal product of dirty energy. The constrained-efficient production subsidy equals the marginal external cost of dirty...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015434413

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The macroeconomics of clean energy subsidies

Casey, Gregory; Woongchan, Jeon; Traeger, Christian - 2023

Book / Working Paper

The macroeconomics of clean energy subsidies

Casey, Gregory; Woongchan, Jeon; Traeger, Christian - 2023

Book / Working Paper

Supply-side elasticities as determinants of optimal carbon taxation

Christiansen, Simon; Jørgensen, Cecilie Marie Løchte - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015461916

Decentralized response as a pandemic second-best : the case of Russia

Maltsev, Vladimir Vladimirovich - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014438039

Second-best optimal emission pricing

McKitrick, Ross - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015179443

Mental accounting, heuristics, and the second-best : solving the calculator-jacket puzzle

Khalil, Elias L. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014537321

Climate change, climate policy, and the macroeconomy

Ploeg, Frederick van der; Rezai, Armon - 2026

A review is presented of the macroeconomics of climate change and policy. The review starts with a tractable workhorse model of the macroeconomics of climate and carbon pricing. It then discusses extensions to multiple countries. A discussion of the effects of macroeconomic and climate...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015603793

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Climate change, climate policy, and the macroeconomy

Ploeg, Frederick van der; Rezai, Armon - 2026

Book / Working Paper

Self-financing roads under coarse tolling and heterogeneous preferences

Berg, Vincent A. C. van den - 2022 - Version of 13-07-2022

We consider if a road is self-financing under flat or step tolling and optimized capacity while incorporating preference heterogeneity, bottleneck congestion and linear capacity cost. Previous work has shown that a sufficient condition for the toll revenue to equal the capacity cost is that the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013279893

Acquiring land from traditional communities : bottlenecks, misallocation and second-best considerations

Ghatak, Maitreesh; Mookherjee, Dilip - 2023

We discuss reasons why traditional rural communities may be reluctant to voluntarily relinquish their access to land despite being compensated at market prices, thereby limiting the scope for reallocating land to more productive uses in agriculture or urban development. Owing to financial market...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014492301

Confronting the carbon pricing gap : second best climate policy

Schubert, Katheline; Pommeret, Aude; Ricci, Francesco - 2023

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014252604

Teacher labor market policy and the theory of the second best

Bates, Michael; Dinerstein, Michael; Johnston, Andrew; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015359056

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Teacher Labor Market Policy and the Theory of the Second Best

Bates, Michael; Dinerstein, Michael; Johnston, Andrew; … - 2023

Book / Working Paper

The Welfare Impact of Using Second-Best Uniform Taxes to Address Traffic Congestion

Arlinghaus, Johanna Brigitte; Koch, Nicolas - 2023

This paper uses a novel GPS-coded dataset for more than three million car trips in the four largest German cities to measure the efficiency losses from using uniform fuel taxes as a second-best optimal tax to reduce traffic congestion. We estimate the short-run price elasticity of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014346111

Global carbon price asymmetry

Ritz, Robert A. - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013407436

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Global carbon price asymmetry

Ritz, Robert A. - 2021 - This version: December 2020

Edition: This version: December 2020

Book / Working Paper

Corrective regulation with imperfect instruments

Dávila, Eduardo; Walther, Ansgar - 2022

This paper studies optimal second-best corrective regulation, when some agents/activities cannot be perfectly regulated. We show that policy elasticities and Pigouvian wedges are sufficient statistics to characterize the marginal welfare impact of regulatory policies in a large class of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013367615

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Corrective regulation with imperfect instruments

Dávila, Eduardo; Walther, Ansgar - 2022

Book / Working Paper

Corrective regulation with imperfect instruments

Dávila, Eduardo; Walther, Ansgar - 2021

Book / Working Paper

A crises-bailouts game

Salcedo, Bruno; Sultanum, Bruno; Zhou, Ruilin - 2022

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012804889

What is the Best Environmental Policy? Taxes, Permits and Rules Under Economic and Environmental Uncertainty

Philippopoulos, Apostolis; Economides, George; … - 2022

We welfare rank different types of second-best environmental policy. The focus is on the roles of uncertainty and public finance. The setup is the basic stochastic neoclassical growth model augmented with the assumptions that pollution occurs as a by-product of output produced and environmental...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014080294

Second-best socially optimal R&D under output spillovers

Badra, Yassine; Gaumont, Damien; Halmenschlager, Christine - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014532148

Do market failures create a "durability gap" in the circular economy?

Fullerton, Don; He, Shan - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015152785

Welfare analysis in insurance markets

Rothschild, Casey G. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014583078

The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting

Goulder, Lawrence H.; Parry, Ian W. H.; Williams, … - 2021

This paper uses analytical and numerical general equilibrium models to study the costs of achieving pollution reductions under a range of environmental policy instruments in a second-best setting with pre-existing factor taxes. We compare the costs and efficiency impacts of emissions taxes,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013244739

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The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting

Goulder, Lawrence H.; Parry, Ian W. H.; Williams, … - 2000

Book / Working Paper

The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting

Goulder, Lawrence H.; Parry, Ian W. H.; Williams, … - 1999

Book / Working Paper

The Cost-Effectiveness of Alternative Instruments for Environmental Protection in a Second-Best Setting

Goulder, Lawrence H. - 1998

Book / Working Paper

The second best theory of differential capital taxation

Feldstein, Martin S. - 1985

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10000693464

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The Second Best Theory of Differential Capital Taxation

Feldstein, Martin S. - 2021

Book / Working Paper

The Second Best Theory of Differential Capital Taxation

Feldstein, Martin - 1985

Book / Working Paper

Are Invisible Hands Good Hands? Moral Hazard, Competition, and the Second Best in Health Care Markets

Gaynor, Martin; Haas-Wilson, Deborah; Vogt, William B. - 2021

The nature, and normative properties, of competition in health care markets has long been the subject of much debate. In particular, policymakers have exhibited a great deal of reservation toward competition in health care markets, as demonstrated by the plethora of regulations governing the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013235279

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Are Invisible Hands Good Hands? Moral Hazard, Competition, and the Second-Best in Health Care Markets

Gaynor, Martin; Haas-Wilson, Deborah; Vogt, William B. - 2000

Book / Working Paper

Are Invisible Hands Good Hands? Moral Hazard, Competition, and the Second Best in Health Care Markets

Gaynor, Martin - 1998

Book / Working Paper

Optimal Taxation of Externalities Interacting Through Markets : A Theoretical General Equilibrium Analysis

Ren, Xiaolin; Fullerton, Don; Braden, John B. - 2021

This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316127

What is the Best Environmental Policy? Taxes, Permits and Rules under Economic and Environmental Uncertainty

Angelopoulos, Konstantinos; Economides, George; … - 2021

We study the importance of uncertainty and public finance to the welfare ranking of three environmental policy instruments: pollution taxes, pollution permits and Kyoto-like numerical rules for emissions. The setup is the basic stochastic neoclassical growth model augmented with the assumptions...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316232

Friedman Rule in a Model with Endogenous Growth and Gash-in-Advance Constraint

Gahvari, Firouz - 2021

This paper introduces money into an overlapping generations model with endogenous growth. The model, due to Docquier et al. (2007), exhibits a positive intergenerational externality which precludes its laissez-fair equilibrium to be optimal even if the government can control the level of...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316342

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

Conventional pension systems suffer from a design defect, which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The article outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003944299

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How to Avoid a Pension Crisis: A Question of Intelligent System Design

Cigno, Alessandro - 2009

Book / Working Paper

How to avoid a pension crisis: a question of intelligent system design

Cigno, Alessandro - 2009

Book / Working Paper

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

Book / Working Paper

How to Avoid a Pension Crisis : A Question of Intelligent System Design

Cigno, Alessandro - 2021

Book / Working Paper

How to Avoid a Pension Crisis : A Question of Intelligent System Design

Cigno, Alessandro - 2010

Book / Working Paper

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

Book / Working Paper

Sharing demographic risk : who is afraid of the baby bust

Ludwig, Alexander - 2008

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013442692

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Sharing Demographic Risk - Who is Afraid of the Baby Bust?

Ludwig, Alexander; Reiter, Michael - 2021

Book / Working Paper

Sharing Demographic Risk : Who is Afraid of the Baby Bust?

Ludwig, Alexander - 2009

Book / Working Paper

Discounting and Welfare Analysis Over Time : Choosing the à3B7

Buchholz, Wolfgang; Schumacher, Jan - 2021

Based on the Ramsey equation and an ethically motivated rejection of pure utility time discount, the Stern Review on the Economics of Climate Change concentrates on the use of the elasticity of marginal utility η in the intergenerational social welfare function. We support this position by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013316572

Efficient tax policy ranks education higher than saving

Richter, Wolfram F. - 2008

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010268642

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Efficient tax policy ranks education higher than saving

Richter, Wolfram F. - 2007

Book / Working Paper

Efficient Tax Policy Ranks Education Higher than Saving

Richter, Wolfram F. - 2021

Book / Working Paper

Efficient Tax Policy Ranks Education Higher than Saving

Richter, Wolfram F. - 2021

Book / Working Paper

Second-Best Pollution Taxes

Fullerton, Don - 2021

When government needs more revenue than is available from a pollution tax rate equal to marginal environmental damage, our intuition tells us to raise the tax on the clean good above zero and to raise the tax on the dirty good above that first-best Pigouvian rate. Yet new results suggest that...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013218414

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Second-Best Pollution Taxes

Fullerton, Don - 1996

Book / Working Paper

Designing benefit rules for flexible retirement with or without redistribution

Simonovits, András - 2004

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010261115

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Designing Benefit Rules for Flexible Retirement with or Without Redistribution

Simonovits, András - 2021

Book / Working Paper

The welfare state redistribution and the economy : reciprocal altruism, consumer rivalry and second best

van der Ploeg, Frederick - 2004

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10010261225

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The Welfare State, Redistribution and the Economy, Reciprocal Altruism, Consumer Rivalry and Second Best

van der Ploeg, Rick - 2021

Book / Working Paper

A new approach to optimal commodity taxation

Homburg, Stefan - 2006

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10003390979

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A new approach to optimal commodity taxation

Homburg, Stefan - 2004

Book / Working Paper

A new approach to optimal commodity taxation

Homburg, Stefan - 2004

Book / Working Paper

A new approach to optimal commodity taxation

Homburg, Stefan - 2004

Book / Working Paper

A New Approach to Optimal Commodity Taxation

Homburg, Stefan - 2021

Book / Working Paper

A New Approach toOptimal Commodity Taxation

Homburg, Stefan - 2004

Book / Working Paper

Tax deductibility of commuting expenses and residential land use with more than one center

Wrede, Matthias - 2003

This paper analyzes the treatment of commuting expenses by the income tax code from a normative and a positive point of view within a continuous space framework with endogenous residence choices and perfect labor mobility. As commuting expenses should never be deductible from the income tax base...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001773057

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Tax deductibility of commuting expenses and residential land use with more than one center

Wrede, Matthias - 2003

Book / Working Paper

Tax Deductibility of Commuting Expenses and Residential Land Use with More than One Center

Wrede, Matthias - 2021

Book / Working Paper

Can Productive Government Spending Be the Engine of Long-Run Growth When Labor Supply is Endogenous?

Park, Hyun; Philippopulos, Apostolēs - 2021

We reexamine the properties of optimal fiscal policy and their implications for implementable capital accumulation. The setup is a standard endogenous growth model with public production services, augmented by elastic labor supply. We show that, when a benevolent government chooses a distorting...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013320598

Rational migration policy should tolerate non-zero illegal migration flows : lessons from modelling the market for illegal migration

Entorf, Horst - 2000

The debate on the immigration policies in OECD countries has turned its attention towards illegal migrants. Given that migration flows are determined by immigration laws, the probability of potential detection, penalties for unauthorised migrants and their employers, and on income differences...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001528500

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Rational Migration Policy Should Tolerate Non-Zero Illegal Migration Flows: Lessons from Modelling the Market for Illegal Migration

Entorf, Horst - 2000

Book / Working Paper

Rational migration policy should tolerate non-zero illegal migration flows : lessons from modelling the market for illegal migration

Entorf, Horst - 2000

Book / Working Paper

Rational migration policy should tolerate non-zero illegal migration flows : lessons from modelling the market for illegal migration

Entorf, Horst - 2000

Book / Working Paper

Rational Migration Policy Should Tolerate Non-Zero Illegal Migration Flows : Lessons from Modelling the Market for Illegal Migration

Entorf, Horst - 2021

Book / Working Paper

Rational Migration Policy Should Tolerate Non-Zero Illegal Migration Flows : Lessons from Modelling the Market for Illegal Migration

Entorf, Horst - 2000

Book / Working Paper

Fiscal constitutions

Gersbach, Hans - 2004

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10001994573

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Fiscal constitutions

Gersbach, Hans - 1999

Book / Working Paper

Fiscal Constitutions

Gersbach, Hans - 2021

Book / Working Paper

Second-Best Source-Based Taxation of Multinational Firms

Becker, Johannes - 2021

I consider a continuum of multinational enterprises (MNEs), which differ in profitability. MNEs employ capital, shift profit to tax havens and may relocate their production facilities to other countries. Source countries provide public inputs and levy taxes. I derive optimal policy choices for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013324212

Empirical Estimates for Environmental Policy Making in a Second-Best Setting

West, Sarah E.; Williams, Roberton C. - 2021

This study estimates parameters necessary to calculate the optimal second-best gasoline tax, most notably the cross-price elasticity between gasoline and leisure. Prior work indicates that in a second-best setting with distortionary income taxes, both the cost of environmental regulation and the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10013237599

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Empirical Estimates for Environmental Policy Making in a Second-Best Setting

West, Sarah E. - 2004

Book / Working Paper

Empirical Estimates for Environmental Policy Making in a Second-Best Setting

West, Sarah E.; Williams, Roberton C. - 2004

Book / Working Paper

Equilibria under liability rules : how the standard claims fall apart

Feldman, Allan; Singh, Ram - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014375194

Suboptimal climate policy

Hassler, John; Krusell, Per; Olovsson, Conny - 2021

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012799082

Time is of the essence: climate adaptation induced by existing institutions

Bento, Antonio; Miller, Noah; Mookerjee, Mehreen; … - 2021

In the absence of first-best climate policy, we demonstrate that existing government institutions and policy established for reasons unrelated to climate change may induce climate adaptation. We examine the impact of temperature on ambient ozone concentration in the United States from 1980-2013,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10012517871

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