Browsing Department of Economics (ECO) by Subject "D60"

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Title: Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets Author(s): GOTTARDI, Piero; KAJII, Atsushi; NAKAJIMA, Tomoyuki Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it ...
Title: Value of Information in Competitive Economies with Incomplete Markets Author(s): GOTTARDI, Piero; RAHI, Rohit Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study the value of information in a competitive economy in which agents trade in asset markets to reallocate risk. We characterize the kinds of information that allow a welfare improvement when portfolios can be freely ...
Title: Responsive Pricing Author(s): COURTY, Pascal; PAGLIERO, Mario Date: 2008 Type of Publication: Article Abstract: Abstract We study the efficiency property of responsive pricing, a scheme that proposes to increase prices as a function of the level of capacity utilization in environments where traditional allocation schemes (e.g. ...

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