The main reason governments grant patent protection is to spur innovation. However, the size of the R&D stimulus from patent protection is far from clear because it depends on how effective patents are as a…
We analyze the distributional and efficiency impacts of different allowance allocation schemesmotivated by recently proposed U.S. climate legislation for a national cap and trade system usinga new dynamic…
This paper develops a decomposition algorithm by which a market economy with many households may be solved through the computation of equilibria for a sequence of representative agent economies. The paper…
