Download or read book Prices Vs Quantities Vs Tradeable Quantities written by Roberton C. Williams and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities Vs Tradable Quantities written by Roberton C. Williams III. and published by . This book was released on 2002 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities Vs Tradable Quantities written by Roberton C. Williams and published by . This book was released on 2002 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends Weitzman's (1974) seminal paper comparing price and quantity instruments for regulation to consider a third option: tradable quantity regulations, such as tradable permits. Contrary to what prior work has suggested, fixed quantities may be more efficient than tradable quantities if the regulated goods are not perfect substitutes, even when trading ratios are based on the ratio of expected marginal benefits between goods, not simply one-for-one. Indeed, when benefits are independent across goods, or when the goods are complements, tradable quantities are never the most efficient instrument. This theory is applied to dynamic pollution problems, and suggests that permit banking should be allowed for stock pollutants, but not for flow pollutants. These results indicate that many regulations, including the current sulfur dioxide trading program and proposed greenhouse gas regulations, are inefficient
Download or read book Prices Versus Quantities with Incomplete Enforcement written by Juan-Pablo Montero and published by . This book was released on 1999 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper extends Weitzman's (1974) "Prices vs. Quantities" to allow for incomplete enforcement. Whether the regulator uses prices (e.g., taxes) or quantities (e.g., tradeable quotas), a first-best design is always inefficient in the presence of incomplete enforcement. A second-best design that incorporates incomplete enforcement, and where cost and benefit curves are known with certainty, can be implemented equally well with either instrument. If benefit and cost curves are uncertain, however, a quantity instrument performs better than a price instrument. In fact, if the slopes of the marginal cost and marginal benefit curves are equal, quantities are always preferred over prices. Results are consistent to alternative enforcement policies.
Download or read book Prices Versus Quantities with Policy Updating written by William A. Pizer and published by . This book was released on 2016 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers how policy updates and trading of regulated quantities over time changes the traditional comparative advantage of prices versus quantities. Quantity regulation that can be traded over time leads firms to set current prices equal to expected future prices. A government seeking to maximize net societal benefits can take advantage of this behavior with a sequence of quantity policy updates that achieves the first best in all periods. Under price regulation where current prices remain fixed until future policy changes occur, no such opportunity exists to achieve the first best, and prices are never preferred. However, if we assume policy updates are driven in part by political "noise" rather than maximizing net societal benefits, the result changes and prices can again be preferred. The comparative advantage now depends the relative variance of noise shocks compared to true cost and benefit shocks. This contrasts sharply with the traditional comparative advantage that depends on the relative slopes of marginal costs and benefits. Applied to climate change, we estimate the comparative advantage of intertemporally tradable quantities (over prices) to be $2 billion over five years. This estimate grows if updates occur less frequently or could be made negative by political noise.
Download or read book Prices and Quantities in a World Trade System written by B. G. Hickman and published by . This book was released on 1971 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities written by Erin Mansur and published by . This book was released on 2007 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a market subject to environmental regulation, a firm's strategic behavior affects the production and emissions decisions of all firms. If firms are regulated by a Pigouvian tax, changing emissions will not affect the marginal cost of polluting. However, under a tradable permits system, the polluters' decisions affect the permit price. This paper shows that this feedback effect may increase a strategic firm's output. Relative to a tax, tradable permits improve welfare in a market with imperfect competition. As an application, I model strategic and competitive behavior of wholesalers in the Pennsylvania, New Jersey, and Maryland electricity market. Simulations suggest that exercising market power decreased local pollution by approximately nine percent, and therefore, substantially reduced the price of the region's pollution permits. Furthermore, I find that had regulators opted to use a tax instead of permits, the deadweight loss from imperfect competition would have been approximately seven percent greater.
Download or read book Prices Vs Quantities written by James M.. Malcomson and published by . This book was released on 1978 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities written by and published by . This book was released on 2002 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Versus Quantities with Incomplete Enforcement written by and published by . This book was released on 2002 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: I study whether incomplete enforcement of a regulation has any impact on the choice between price (e.g., taxes) and quantity (e.g., tradeable quotas) instruments. Results indicate that a second-best design accounting for incomplete enforcement can be implemented equally well with either instrument as long as the benefit and cost curves are known with certainty. If these curves are uncertain to the regulator, however, the quantity instrument performs relatively better than the price instrument. The reason is the effective amount of control under the quantity instrument is no longer fixed, which makes this instrument come closer to a non-linear instrument.
Download or read book Prices Vs Quantities the Political Perspective written by Israel Finkelstein and published by . This book was released on 1995 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities with Endogenous Cost Structure written by Halvor Briseid Storrøsten and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Prices Vs Quantities written by Fridrik Mar Baldursson and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the efficacy of price and quantity controls in a dynamic setup in which the decisions of some agents are irreversible. The assumption of irreversibility is shown to improve the performance of a tax relative to that of a system of tradable quotas and significantly alter the equilibrium behavior of agents. We nevertheless conclude that taking into account the fact that agents' decisions may be irreversible does not lead to policy implications significantly different from those reached in a simpler model in which irreversibility is ignored.
Download or read book Prices vs quantities written by Fridrik M. Baldursson and published by . This book was released on 1998 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Value and Unequal Exchange in International Trade written by Andrea Ricci and published by Routledge. This book was released on 2021-05-20 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contrary to the claims made by neoliberal governments and mainstream academics, this book argues that the huge increase in trade in recent decades has not made the world a fairer place: instead, the age of globalization has become a time of mass migration caused by increasing global inequality. The theory of unequal exchange challenges the free trade doctrine, claiming that transfers of value from poorer to richer countries are hidden behind apparently equivalent market transactions. Following a critical review of the existing approaches, the book proposes a general theory of unequal exchange in the light of an innovative reconstruction of Marx’s international law of value, in which money and exchange rates play a crucial role in decoupling value captured from value produced by different countries, even in perfectly competitive world markets. On this theoretical basis, the book provides an empirical analysis of the international transfers of value in both traditional trade and Global Value Chains. The resulting world mapping of unequal exchange shows the geographical hierarchy of capital global exploitation by revealing a world divided into two quite separate camps of donor and receiving countries, the former being the poorer countries and the latter the richer countries. This book is addressed to scholars and students of economics and social sciences, as well as activists of the North and the South, interested in a better understanding of the asymmetric power relations implied in global trade. It makes a significant contribution to the literature on political economy, trade, Marxism, international relations, and economic geography.
Download or read book Implementing Domestic Tradeable Permits Recent Developments and Future Challenges written by OECD and published by OECD Publishing. This book was released on 2002-08-05 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of an OECD workshop on domestic tradeable permits which provides an analysis of recent developments in the use of domestic TPs in new areas including climate change, renewable energy, transport, solid waste management, and water resources management.
Download or read book The Theory and Experience of Economic Development written by Mark Gersovitz and published by Routledge. This book was released on 2012-08-06 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, first published in 1982, is a collection of original essays written to honour Professor W. Arthur Lewis, 1979 co-winner of the Nobel Prize in economics. The authors, an international group of distinguished scholars, address a varied set of specific issues reflecting Professor Lewis’ research interests, covering topics which include: technological change in agriculture, analyses of unemployment and income distribution, the role of government policy in the development process, the historical record of development, and the relationship between developed and developing nations. The book will be of interest to both the academic researcher and practicing professionals in the international organisations and national governments, and are particularly appropriate to graduate courses in economic development, cost-benefit analysis and economic history.
