Welfare policy and multi-national monopolies

Strategic Interaction, Trade Policy, and National Welfare

Welcome Policy Uncertainty and Informational Monopolies : The Case of Monetary Policy

1 Wisconsin-Madison, respectively. We would like to thank NSF for providing financial support for this research. Part of this work was done when both authors visited the Bank of Portugal, which provided a stimulating research environment. We also thank seminar participants at several universities for their comments, and John Kennan and Tom Sargent for many useful conversations on these topics.

Climate Policy and Intergenerational Welfare∗

We use a two-sector OLG model to study the intergenerational effects of a tax designed to conserve a natural resource such as the global atmosphere. The traded asset capitalizes future environmental benefits created by the tax, benefiting the current asset owners, the old generation. Absent a transfer, the tax harms the young generation by decreasing their real wage. Future generations benefit ...

Welfare Leakage and Immigration Policy

This paper analyzes the interaction between the welfare state and immigration policy. We establish a negative relationship between the number of dependents and the extent of the welfare state due to the leakage of benefits. We also explain the determination of immigration policy as the outcome of a lobbying game between domestic interest groups and the government. Our results indicate that ther...

Welfare Policy Integration Issues

What purposes should social and labor market policy serve in increasingly interrelated economic systems? And do current arrangements serve them well in the European framework? This paper reviews the relevant issues focusing in particular on assignment of decision power at different levels of governance, and on theoretically clear and empirically apparent sources of incoherent and ineffective po...