Across the Great Divide by Martin Neil Baily

Author:Martin Neil Baily
Language: eng
Format: epub
Tags: financial crisis, Brookings Institution, Hoover Institution, "too big to fail", economics, economic policy, American economy, Lehman Brothers, 2008, Federal Reserve, monetary policy, Chapter 14, Dodd-Frank
Publisher: Hoover Institution Press
Published: 2014-10-09T13:26:20+00:00

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*I thank the CRSP and the Guggenheim Foundation for research support, and I thank participants at the October 1, 2013, Brookings/Hoover Financial Crisis Conference for helpful comments.

1. Pigouvian taxes are designed to discourage undesirable activities, especially externalities such as pollution. Kocherlakota (2010), Jeanne and Korinek (2011), and Perotti and Suarez (2011) suggest Pigouvian taxes to limit debt. Stein (2012) explores their equivalence to a cap-and-trade proposal.

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