This research project aims at performing an economic analysis of three mciroeconomic specific public policies. These haousing policy, environmental policy and innovation policy. Housing policies hava both allocative and distributional effects. Our purpose is to analyze how tax policies and changes in exogenous variables such as income and interest rates interact and affect housing prices and residential capital stock. Tax policy will be interpreted in a wide sense, including both fiscal subsides and taxes on housing ownership or on trade. As for the distributional effects of housing policy, we intend to use both econometric tools and microsimulation techniques to evaluate the impact of a set of alternative policies. The design of environmental policies faces several problems. We intend to address two of them. The first is deciding the weight given to future generations in projects that have long term effects, such as policies intended to mitigate the greenhouse effect. We intend to propose a method that would yield a set of weights and rights that differ from those implicit in conventional evaluation methods. The second problem is that of identifying the contribution of different economic sectors to the consumption of energy and to global warming emissions. We plan to approach this issue, and to analyze the international distribution of per capita emissions of C2. The third policy to be studied is the use of tax credits for R and D and innovation expenditures carried out by firms as a tool of technology policy. R and D tax credits have been used for some time in several OECD countries, and recently they have been increased in countries such as Spain and the UK. Evidence on their effectiveness, however, is limited and controversial, and practically non-existing in Spain. We intend to fill that gap by using econometric and simulation methods with a sample of Spanish firms
|Effective start/end date||28/11/03 → 27/11/06|
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