We test some positive implications of the commitment hypothesis for the design of monetary institutions in open economies, by studying the determinants of Central Bank independence on a sample of 55 countries, for the period 1980-1989. We document fairly consistent empirical evidence in support...

D78, H72, H77 </AbstractSection> Copyright Russo and Senatore; licensee Springer. 2013

Decisions on joint funding of continuous public goods between two agents often involve heterogeneous targets. We introduce loss functions in a contribution game in order to study the effect of this conflict. Unlike Varian (1994), joint contribution occurs only if the players’ targets are...

In the current competitive scenario, services now pervade all business activities, involving every production system and every organization. The emerging importance of services and their decisive role, compared to goods, in every business transaction in the global economy encourages scholars,...