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Journal: AEA Papers and Proceedings

Abbreviation

Publisher

American Economic Association

Journal Volumes

ISSN

2574-0768
2574-0776

Description

Filters

2020 - 20253
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Publications 1 - 3 of 3
  • The Fiscal Costs of Climate Change
    Item type: Journal Article
    Barrage, Lint (2020)
    AEA Papers and Proceedings
    This paper explores the fiscal consequences of climate change. The analysis considers climate change impacts on (i) the cost of existing government services (e.g., disaster assistance) and (ii) the need for publicly provided anticipatory adaptation (e.g., sea walls). These channels are integrated into the COMET, a dynamic general equilibrium climate-economy model with distortionary taxation and government expenditures. The main result is that accounting for fiscal impacts may increase the welfare benefits of efficient climate policy by up to 30 percent. Business-as-usual climate change may necessitate increases in income tax rates and elevate the marginal cost of raising public funds.
  • Do Bonuses Offset the Allocative Effects of Downward Rigid Base Wages?
    Item type: Conference Paper
    Funk, Anne Kathrin; Kaufmann, Daniel (2022)
    AEA Papers and Proceedings
    We measure the labor market outcomes of employees with downward rigid base wages after an unexpected deflationary shock in Switzerland using a firm survey matched with Social Security register data. The employees that additionally receive downward flexible compensation, such as bonuses, are less likely to lose their job after a deflationary shock than those only receiving a base wage. Only a modest share of employees receives downward flexible compensation, however. Therefore, these compensation schemes do not offset the overall allocative effects of downward rigid base wages.
  • The Economics of Blended Finance
    Item type: Journal Article
    Flammer, Caroline; Giroux, Thomas; Heal, Geoffrey M. (2025)
    AEA Papers and Proceedings
    Projects with high societal impact--such as biodiversity conservation and climate change mitigation--often offer financial returns that are too low, or too risky, to attract private capital. Under such circumstances, it can be difficult to raise adequate financing for these projects. A potential solution is blended finance, that is, the blending of concessional funding (e.g., from governments, multilateral development banks, or philanthropies) with private capital. We present a model that shows how blended finance can improve the risk-return profile of private investments and hence serve as a catalyst for private capital investments in projects with high societal impact.
Publications 1 - 3 of 3