This paper employs a three-period-overlapping-generations model to discuss intergenerational (in-)efficiency of a PAYG system when labor supply is endogenous. Four main results will be derived. First, ...

This paper explores the role of trade instruments in globally efficient climate policies, focusing on the central issue of whether some form of border tax adjustment (BTA) is warranted when carbon ...

U.S. Sen. Marco Rubio of Florida speaks during the Conservative Political Action Conference on March 6 in National Harbor, Maryland. Let’s formalize our understanding of this a bit. In economics, ...

Social Choice and Welfare, Vol. 6, No. 4 (1989), pp. 259-273 (15 pages) This paper is concerned with sequences of policies that occur over time in voting models and planning procedures. The framework ...

There’s a concept in economic and political policy thinking called the Pareto criterion. It’s a central economic theory that should be at the foundation of any deliberations by government policy and ...