Arbeitspapier
Risk Sharing in the Presence of a Public Good
This paper studies an economy where agents can spend resources on consuming a private good and on funding a public good. There is asymmetric information regarding agents' relative preference for private versus public good consumption. I show how private good consumption should be coordinated across agents within each period to ensure efficient contributions to fund the public good. If agents contributed similar amounts in the past, then coordination takes the form of positively correlated contributions in the current period. If an agent contributed more in the past, then coordination prescribes statecontingent socially wasteful private good consumption in the current period for that agent.
- Sprache
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Englisch
- Erschienen in
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Series: Bank of Canada Working Paper ; No. 2015-27
- Klassifikation
-
Wirtschaft
Fiscal Policy
Taxation and Subsidies: Efficiency; Optimal Taxation
Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Intergovernmental Relations; Federalism; Secession
Asymmetric and Private Information; Mechanism Design
Economics of Contract: Theory
- Thema
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Fiscal policy
Financial stability
Financial system regulation and policies
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schroth, Josef
- Ereignis
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Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
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Ottawa
- (wann)
-
2015
- DOI
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doi:10.34989/swp-2015-27
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Schroth, Josef
- Bank of Canada
Entstanden
- 2015
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