John Siegfried Notes

John Siegfried Notes - Tax on carbon emission: firms pay...

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John Siegfried Notes Better Living Through Economics- Book Economic research has had profound effect on way of life- Not widely recognized. Why: expectations too high, research produces public goods instead of private, patents don’t include economics Emissions Permit Trading- bureaucrats do not have sufficient information to identify least-cost pollution avoiders Coase Theory: if property rights are explicit and transferrable, markets will assure that pollution is controlled at the least cost Free Rider: Thinking other people will do it, then no one does it
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Unformatted text preview: Tax on carbon emission: firms pay the tax if cost to clean up is higher People are not saving enough money in their pension fund and spending too much Pension Protection Act of 2006: Changed pension fund question around, improved numbers Real economic welfare is greater if GDP grows faster and inflation is lower Future inflation affects current price decisions Taylor rule: weighted average, feds should do nothing economically If workers retain a greater portion of their compensation after taxes, they will work more...
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This note was uploaded on 10/03/2011 for the course BUS 102 taught by Professor Waldrop during the Spring '08 term at Miami University.

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John Siegfried Notes - Tax on carbon emission: firms pay...

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