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Full-Text Articles in Social and Behavioral Sciences
Strategic Environmental Policy And International Trade In Asymmetric Oligopoly Markets, Yann Duval, Stephen F. Hamilton
Strategic Environmental Policy And International Trade In Asymmetric Oligopoly Markets, Yann Duval, Stephen F. Hamilton
Economics
This paper examines optimal cooperative and non-cooperative environmental taxes for the case in which a polluting input is used to produce an internationally-traded finished product. The model allows for terms-of-trade effects under oligopoly and employs a general specification of the environmental damage function that encompasses special cases of local, global, and transboundary externalities. The model has several implications for public finance. For example, inefficiently high environmental taxes may be optimal for a net exporting country in non-cooperative circumstances, as the motive to shift rent by selecting an inefficiently low tax rate is countervailed by the incentive to shift the burden …
Returns To Public Investments In Agriculture With Imperfect Downstream Competition, Stephen F. Hamilton, David L. Sunding
Returns To Public Investments In Agriculture With Imperfect Downstream Competition, Stephen F. Hamilton, David L. Sunding
Economics
A multiple-market framework is developed to measure the size and distribution of research benefits. The model considers an upstream raw product market and a downstream finished product market and allows for imperfect competition in the intermediary food-processing sector. A central conceptual result is derived: an increase in raw product output is a sufficient condition for cost- reducing innovations in the farm sector to increase social welfare. A special case of linear farm supply and isoelastic processing production functions reveals that necessary conditions for welfare to decrease are a convergent farm supply shift, an oligopsonistic upstream market configuration, and increasing returns-to-scale …