A model is presented for simulating the tax burden on highly skilled manpower. The effective average tax rate, defined as the relative wedge between total remuneration and disposable income, is computed. Income…

We show that U.S. withdrawal from the Kyoto Protocol can be rationalized under political economy considerations. The reason is that U.S. compliance costs exceed low willingness to pay for dealing with global…

Foreign exchange intervention is frequently being used by central banks in countries which have a floating exchange rate. Most theoretical monetary policy models, however, do not take this phenomenon into…