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Economic rationales for investments in science
(2018)Economics Working Paper SeriesWorking Paper -
Incentive pay for policy-makers
(2018)Economics Working Paper SeriesWe study how to efficiently motivate policy-makers to solve political multitask problems. Political multi-task problems typically have outcomes that are difficult to measure. Moreover, there are conflicts among citizens about optimal policies and the agents have the power to tax the citizens to invest in better outcomes of some tasks. We develop a political agency model with two tasks and only one measurable outcome. In such an ...Working Paper -
Permit markets, carbon prices and the creation of innovation clusters
(2018)Economics Working Paper SeriesInnovation clusters combining public and private effort to develop breakthrough technologies promise greater technological advances to slow down climate change. We use a multi-country model with emissions permit trade to examine how international climate policy can incentivize countries to create such clusters. We find that a minimal carbon price is needed to attract applied research firms, but countries may nevertheless fail to invest ...Working Paper -
Macroprudential policy in the new Keynesian world
(2018)Economics Working Paper SeriesWorking Paper