| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22063 |
| 来源ID | Working Paper 22063 |
| Sufficient Statistics for Imperfect Externality-Correcting Policies | |
| Mark R. Jacobsen; Christopher R. Knittel; James M. Sallee; Arthur A. van Benthem | |
| 发表日期 | 2016-03-07 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to deviate from the Pigouvian ideal due to administrative or political constraints. This paper derives sufficient statistics, which require a minimum of market information, that quantify the efficiency costs of such constraints on policy design. We demonstrate that, under certain intuitive conditions, standard output from a regression of true externalities on policy variables, including the R2 and the sum of squared residuals, have immediate welfare interpretations—they are sufficient statistics that compare alternative policies. We utilize our approach in three diverse empirical applications: random mismeasurement in externalities, imperfect spatial policy differentiation, and heterogeneity in the longevity of energy-consuming durable goods. Regarding the latter, we use our method and a novel data set and find that policies that regulate vehicle fuel-economy, but ignore the differences in average longevity across types of automobiles, recover only about one-quarter to one-third of the welfare gains achievable by a policy that also takes product longevity into account. In contrast, our other two empirical applications suggest that policy imperfections have only small welfare costs. |
| 主题 | Public Economics ; Taxation ; Industrial Organization ; Regulatory Economics ; Industry Studies ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w22063 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579736 |
| 推荐引用方式 GB/T 7714 | Mark R. Jacobsen,Christopher R. Knittel,James M. Sallee,et al. Sufficient Statistics for Imperfect Externality-Correcting Policies. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22063.pdf（762KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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