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来源类型Working Paper
规范类型报告
DOI10.3386/w23887
来源IDWorking Paper 23887
Optimal Regulation with Exemptions
Louis Kaplow
发表日期2017-10-02
出版年2017
语种英语
摘要Despite decades of research on mechanism design and on many practical aspects of cost-benefit analysis, one of the most basic and ubiquitous features of regulation as actually implemented throughout the world has received little theoretical attention: exemptions for small firms. These firms may generate a disproportionate share of harm due to their being exempt and because exemption induces additional harmful activity to be channeled their way. This article analyzes optimal regulation with exemptions where firms have different productivities that are unobservable to the regulator, regulated and unregulated output each cause harm although at different levels, and the regulatory regime affects entry as well as the output choices of regulated and unregulated firms. In many settings, optimal schemes involve subtle effects and have counterintuitive features: for example, higher regulatory costs need not favor higher exemptions, and the incentives of firms to drop output to become exempt can be too weak as well as too strong. A final section examines the optimal use of output taxation alongside regulation, which illustrates the contrast with the mechanism design approach that analyzes the optimal use of instruments of a type that are not in widespread use.
主题Microeconomics ; Welfare and Collective Choice ; Public Economics ; Taxation ; Labor Economics ; Other ; Law and Economics ; Industrial Organization ; Regulatory Economics ; Environmental and Resource Economics ; Environment
URLhttps://www.nber.org/papers/w23887
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/581559
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Louis Kaplow. Optimal Regulation with Exemptions. 2017.
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