Now showing items 393-412 of 647

    • On the perils of stabilizing prices when agents are learning 

      Mele, Antonio; Molnár, Krisztina; Santoro, Sergio (Discussion paper;01/15, Working paper, 2015-01)
      We show that price level stabilization is not optimal in an economy where agents have incomplete knowledge about the policy implemented and try to learn it. A systematically more accommodative policy than what agents expect ...
    • On the perils of stabilizing prices when agents are learning 

      Mele, Antonio; Molnar, Krisztina; Santoro, Sergio (DP SAM;22/2018, Working paper, 2018)
      The main advantage of price level stabilization compared with in ation stabilization rests on the central bank's ability to shape expectations. We show that stabilizing prices is no longer optimal when the central bank ...
    • On the political economy of resource rents in polarized societies 

      Bjorvatn, Kjetil (Discussion paper, Working paper, 2007-01)
      The present paper analyses how resource rents may affect political outcomes in a polarized society, where groups hold conflicting views on economic policy. A politically dominant group decides whether or not to include ...
    • On the possibility of Paretian egalitarianism 

      Tungodden, Bertil; Vallentyne, Peter (Discussion paper, Working paper, 2004-07)
      Paretian egalitarianism holds that equality should be promoted, but only when this does not conflict with certain (Pareto) efficiency considerations. Like leximin, it has the attractive feature of never favoring leveling ...
    • On the profitability of cross-border mergers 

      Bjorvatn, Kjetil (Discussion paper, Working paper, 2001-10)
      A horizontal merger is unlikely to be profitable unless it involves the large majority of firms in an industry. This well established result was developed by Salant et al (1983) in a closed economy setting. The present ...
    • On the significance of pre-existing distortions for the costs of environmental regulation 

      Mathiesen, Lars; Håkonsen, Lars (Discussion paper, Working paper, 2001-05)
      Recently, several papers have shown that environmental taxes are more costly in an economy with preexisting distortions than in an undistorted economy. This result applies for equal percent reductions from different ...
    • On the workings of a cartel : evidence from the Norwegian cement industry 

      Steen, Frode; Röller, Lars-Hendrik (Discussion paper, Working paper, 2003-06)
      Using the institutional set-up of the Norwegian cement industry, in particular its sharing rule, we are able to identify the workings of a cartel in some detail. We focus on the two problems that any cartel faces: deciding ...
    • On the workings of a cartel : evidence from the Norwegian cement industry 

      Röller, Lars-Hendrik; Steen, Frode (Discussion paper, Working paper, 2003)
      Using the institutional set-up of the Norwegian cement industry, in particular its sharing rule, we are able to identify the workings of a cartel in some detail. Given data on prices, production, and exports, we are able ...
    • Operational expressions for the marginal cost of indirect taxation when merit arguments matter 

      Schroyen, Fred (Discussion paper, Working paper, 2005-02)
      Marginal indirect tax reform analysis evaluates for each commodity (group) the marginal welfare cost (MC) of increasing government revenue with 1 Euro by raising the indirect tax rate on that commodity. In this paper, ...
    • Optimal agricultural policy and PSE measurement : an assessment and application to Norway 

      Blandford, David; Brunstad, Rolf Jens; Gaasland, Ivar; Vårdal, Erling (Discussion paper, Working paper, 2007-10)
      The producer support estimate (the successor to the producer support equivalent) calculated by the OECD is widely used as an indicator of distortions created by agricultural policies. In this paper we demonstrate that ...
    • Optimal hospital payment rules under rationing by random waiting. 

      Gravelle, Hugh; Schroyen, Fred (SAM;8/2016, Working paper, 2016-05-19)
      We derive optimal rules for paying hospitals in a public health care system in which providers can choose quality and random patient demand is rationed by waiting time. Since waiting time imposes real costs on patients ...
    • Optimal income taxation with a risky asset : the triple income tax 

      Schindler, Dirk (Discussion paper, Working paper, 2004-06)
      We show in a two-period world with endogenous savings and two assets, one of them exhibiting a stochastic return that an interest adjusted income tax is optimal. This tax leaves a safe component of interest income tax ...
    • Optimal labor income taxation under maximin: an upper bound 

      Jacquet, Laurence (Discussion paper, Working paper, 2010-02)
      This paper assumes the standard optimal income tax model of Mirrlees (Review of Economic Studies, 1971). It gives fairly mild conditions under which the optimal nonlinear labor income tax profile derived under maximin ...
    • Optimal merger policy 

      Sørgard, Lars (Discussion paper, Working paper, 2008-09)
      The purpose of this article is to investigate the optimal merger policy in the presence of deterrence as well as type I and type II errors. We derive the optimal number of merger investigations, both when the competition ...
    • Optimal monetary policy when agents are learning 

      Molnár, Krisztina; Santoro, Sergio (Discussion paper, Working paper, 2006-11)
      Most studies of optimal monetary policy under learning rely on optimality conditions derived for the case when agents have rational expectations. In this paper, we derive optimal monetary policy in an economy where the ...
    • Optimal provision of public goods : implications for support to agriculture 

      Brunstad, Rolf Jens; Gaasland, Ivar; Vårdal, Erling (Discussion paper, Working paper, 2007-01)
      This paper summarises a decade of research by the authors into the welfare economic foundations for agricultural policy. The main results are that the levels of support to agriculture in rich developed countries like ...
    • Optimal redistributive taxation with both extensive and intensive responses 

      Jacquet, Laurence; Lehmann, Etienne; Van der Linden, Bruno (Discussion paper, Working paper, 2010-02)
      This paper characterizes the optimal income taxation when individuals respond along both the intensive and extensive margins. Individuals are heterogeneous in two dimensions: their skills and their disutility of ...
    • Optimal trade policy with monopolistic competition and heterogeneous firms 

      Haaland, Jan I.; Venables, Anthony J. (Discussion paper;33/14, Working paper, 2014-11)
      This paper derives optimal trade and domestic taxes for a small open economy containing a monopolistically competitive (MC) sector in which firms may have heterogeneous productivity levels. Analysis encompasses cases in ...
    • Organizational Design with Portable Skills 

      Picariello, Luca (DP SAM;02, Working paper, 2017-02)
      Workers can move across firms and take with them portable skills. This has an impact on how firms are organized and allocate tasks across workers. To reduce mobility, a profit maximizing firm may inefficiently allocate ...
    • An overview of empirical analysis of behavior of fishermen facing new regulation 

      Kvamsdal, Sturla Furunes (Discussion paper, Working paper, 2010-08)