Kimiko Terai

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The equilibrium redistributive policy proposals of two parties with policy preferences is studied. Each party’s ideal policy coincides with that of citizens having a particular income level, and the party’s utility function reflects its attitude to the trade-off between choice of preferred policy and likelihood of victory. When parties face uncertainty(More)
We consider international negotiations on the level of global pollution, and examine the Lindahl solution which determines the distribution of the pollution permits with unanimous agreement. We show various properties to clarify difficulties to achieve a Pareto efficient allocation as an agreement. The Lindahl solution may result in an unfair allocation,(More)
Two districts with divergent productivity levels engage in policy-making on the provision of local public goods that enhance future income and hence create a dynamic linkage across periods. The policy choices of district representatives are derived under alternative fiscal systems, and the problem of system selection is examined. It is shown that a(More)
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