1,720,971 research outputs found
No country for young people? The rise of anti-immigration politics in ageing societies
Full text linkWe investigate the effects of population ageing on immigration policies using a citizen-candidate model of elections. In each period, young people work and pay taxes while old people receive social security payments. Immigrants are all young, meaning they contribute significantly to financing the cost of public services and social security. Among natives, the elderly and the poor benefit the most from public spending. However, since these two types of voters do not internalise the positive fiscal effects of immigration, they have a common interest in supporting candidates who seek to curb immigration and increase the tax burden on high-income individuals. Population ageing increases the size and, in turn, the political power of such sociodemographic groups, resulting in more restrictive immigration policies, a larger public sector, higher tax rates, and lower societal well-being. Calibrating the model to UK data suggests that the magnitude of these effects is large. The implications of this model are shown to be consistent with the patterns observed in UK attitudinal data
No Country for Young People? The Rise of Anti-immigration Populism in Ageing Societies
Full text linkAbstract We investigate the effects of (i) population ageing and (ii) rising income inequality on immigration policies using an overlapping-generations model of elections with endogenous political parties. In each period, young people work and pay taxes while old people receive social security payments. Immigrants are generally young, meaning they contribute significantly to financing the cost of public services and social security. Among natives, the elderly and the poor benefit the most from public spending. However, because these two types of voters do not fully internalize the positive fiscal effects of immigration, they have a common interest in coalescing around a populist party (or multiple) seeking to curb immigration and increase the tax burden on high-income individuals. Population ageing and rising income inequality increase the size and, in turn, the political power of such parties, resulting in more restrictive immigration policies, a larger public sector, higher tax rates, and lower societal well-being. Calibrating the model to UK data suggests that the magnitude of these effects is large. The implications of this model are shown to be consistent with patterns observed in UK attitudinal data
No Country for Young People? The Rise of Anti-Immigration Politics in Ageing Societies
Full text linkWe investigate the effects of (1) population ageing and (2) rising income inequality on immigration policies using a citizen-candidate model of elections. In each period, young people work and pay taxes while old people receive social security payments. Immigrants are all young, meaning they contribute significantly to financing the cost of public services and social security. Among natives, the elderly and the poor benefit the most from public spending. However, because these two types of voters do not internalise the positive fiscal effects of immigration, they have a common interest in supporting candidates who seek to curb immigration and increase the tax burden on high income individuals. Population ageing and rising income inequality increase the size and, in turn, the political power of such sociodemographic groups, resulting in more restrictive immigration policies, a larger public sector, higher tax rates, and lower societal well-being. Calibrating the model to UK data suggests that the magnitude of these effects is large. The implications of this model are shown to be consistent with patterns observed in UK attitudinal data
Consistent flexibility: Enforcement of deficit rules through political incentives
Full text linkWe study the optimal design of a deficit rule in a model in which the government is present-biased, shocks to tax revenues make rule compliance stochastic, and a rule violation reduces the payoff from holding office. We show that: i) the benchmark policy of the social planner can be always implemented via an optimal nonlinear deficit rule and under certain conditions even under a linear rule; ii) the optimal rule prescribes a zero structural deficit but only partially accounts for shocks; and iii) a government with a stronger ex-ante deficit bias should be granted a higher degree of flexibility
The Shadow of Uncertainty: Climate Policy and the Value of Petroleum Resources
Full text linkWe study how uncertainty about future climate policy affects the valuation of oil resources. Using a structural model of extraction and exploration applied to field-level data from the Norwegian Continental Shelf, we estimate the impact of climate policy uncertainty (CPU) on the shadow prices of both discovered and undiscovered oil. We find that higher CPU lowers these marginal values, especially after the 2015 Paris Agreement, reducing incentives to extract and explore. This decline translates into an implicit carbon cost of 38 per tonne of carbon dioxide emitted. Unlike a Pigouvian tax, this shadow cost does not scale with emissions intensity or generate fiscal revenue. As a result, it reduces production and emissions in a diffuse and economically inefficient manner, without rewarding low emitters or financing green transition policies
The Marginal Oil Field
Full text linkThe recent diffusion of novel oil technologies has increased the variability
of petroleum resources. Today, it is possible to mine oil sands, to extract
liquids from tight rocks and to produce high-viscosity oils. Using the Rystad
dataset, we examine the sensitivity of 14343 deposits to a marginal change
in oil prices or in marginal extraction costs. According to our estimates the
variations in the crude properties combined with the value combined with
the differences in the marginal extraction costs shift the (median) value of
an extra barrel from 64.63 depending upon the type of oil. The
range between these two extremes suggests that different oils could respond
differently to common as well as specific shocks. Our findings are relevant
for the design of Pigouvian taxes affecting the oil sector
The Economic and Environmental Consequences of the Petroleum Industry Extensive Margin
Full text linkThe recent diffusion of novel oil technologies has increased the variability of petroleum resources. Today, it is possible to mine oil sands, to extract liquids from tight rocks, and to produce high-viscosity oils. Merging accounting and environmental data, we quantify the upstream emissions of the least profitable oilfields. According to our estimates thirteen fields, responsible for the production of 0.72 million barrels per day, represent the 1% extensive margin of the industry. These formations are Heavy & Extra Heavy and Sands deposits. Their average upstream carbon intensity is 114.61 KgCO2e per barrel versus a global average of 54.35. Similar results are obtained widening the extensive margin to 2.5% and 5%. This finding suggests that a fall in the global oil demand of 1% can reduce upstream emissions by 24.95 MMtCO2e per year, the annual footprint of 5.3% of all the cars registered in the United States
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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