BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//Vancouver School of Economics//NONSGML Events//EN
CALSCALE:GREGORIAN
X-ORIGINAL-URL:https://economics.ubc.ca/events/event/
X-WR-CALDESC:Vancouver School of Economics - Events
BEGIN:VEVENT
UID:20230226T0935Z-1677404143.9093-EO-30870-38@10.19.146.15
STATUS:CONFIRMED
DTSTAMP:20260516T190022Z
CREATED:20230222T174219Z
LAST-MODIFIED:20230309T185814Z
DTSTART;TZID=America/Vancouver:20230317T153000
DTEND;TZID=America/Vancouver:20230317T170000
SUMMARY: Ben Golub\, Northwestern (Micro Theory Seminar)
DESCRIPTION: Title: Taxes and Market Power: A Principal Components Approach
  Abstract: Suppliers of differentiated goods strategically make simultaneou
 s pricing decisions. We analyze which cost changes (e.g.\, shocks to commod
 ity prices) are most amplified by strategic behavior. We also investigate t
 he policy question of designing welfare-improving deliberate cost changes—m
 arginal taxes and subsidies. A key tool simplifying the […]
X-ALT-DESC;FMTTYPE=text/html: <p>Title:<a href="https://bengolub.net/wp-con
 tent/uploads/2022/04/tax2.pdf"> Taxes and Market Power: A Principal Compone
 nts Approach</a></p><p>Abstract:<br />Suppliers of differentiated goods str
 ategically make simultaneous pricing decisions. We analyze which cost chang
 es (e.g.\, shocks to commodity prices) are most amplified by strategic beha
 vior. We also investigate the policy question of designing welfare-improvin
 g deliberate cost changes---marginal taxes and subsidies. A key tool simpli
 fying the problem is a certain ordered basis for the goods space\, determin
 ed by the network of interactions among suppliers. Costs and prices are dec
 omposed into principal components\, which can be thought of as independent 
 fictitious goods. Volatility analysis is very simple in this basis. The ord
 ered basis also permits a simple cutoff characterization of optimal tax-and
 -subsidy interventions\, which subsidizes the first principal components an
 d taxes the last ones. The gain in welfare achievable by an optimal tax sch
 eme is increasing in a measure of the intensity of strategic interactions. 
 The results permit us to leverage the theory of spectral approximation to d
 esign optimal interventions even when the demand system is observed with co
 nsiderable noise.</p>
LOCATION:IONA 533
GEO:49.260872;-123.113952
URL;VALUE=URI:https://economics.ubc.ca/events/event/ben-golub-northwestern-
 micro-theory-seminar/
END:VEVENT
BEGIN:VTIMEZONE
TZID:America/Vancouver
BEGIN:DAYLIGHT
TZOFFSETFROM:-0800
TZOFFSETTO:-0700
DTSTART:20230312T100000
TZNAME:PDT
END:DAYLIGHT
END:VTIMEZONE
END:VCALENDAR