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Human Capital Externalities and Employment Differences across Metropolitan Areas of the U.S.
employment labor force participation human capital externalities agglomeration
2012/10/22
It has been well documented that employment outcomes often differ considerably across areas. This paper examines the extent to which the local human capital level, measured as the share of prime age a...
Can Taxes Stabilize the Economy in the Presence of Consumption Externalities?
indeterminacy consumption externalities capital and labor income taxation
2012/10/22
Considering a finance constrained economy, we discuss the stabilization role of variable labour and capital income taxes under a balanced-budget rule in the presence of consumption externalities of th...
Property rights and externalities: the uneasy case of knowledge
property rights knowledge invention indivisibility externalities efficiency
2014/6/24
Drawing from Coase’s methodological lesson, this article discusses the specific case of knowledge, which was for a long time chiefly governed by exchange mechanisms lying outside the market, and has o...