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Demougin, Dominique; Fluet, Claude - Centre Interuniversitaire sur le Risque, les Politiques … - 2003

We consider the cost of providing incentives through tournaments when workers are inequity averse and performance … envy depending on the costs of assessing performance. More envious employees are preferred when these costs are high, less …

Persistent link: https://www.econbiz.de/10005696268

Incentives Versus Sorting in Tournaments: Evidence from a Field Experiment

Leuven, Edwin; Oosterbeek, Hessel; Sonnemans, Joep; van … - C.E.P.R. Discussion Papers - 2008

A vast body of empirical studies lends support to the incentive effects of rank-order tournaments. Evidence comes from … tournaments may bias these non-experimental studies, whereas short task duration or lack of distracters may limit the external … where students selected themselves into tournaments with different prizes. Within each tournament the best performing …

Persistent link: https://www.econbiz.de/10005136509

Contingent Capital; Economic Rationale and Design Features

Pazarbasioglu, Ceyla; Zhou, Jian-Ping; Leslé, Vanessa Le; … - International Monetary Fund (IMF) - 2011

The causes of the global financial crisis were multi-faceted but revealed still unresolved weaknesses in national and international financial oversight and resolution frameworks. In particular, many governments in the crisis-hit countries had to provide unprecedented levels of support to contain...

Persistent link: https://www.econbiz.de/10011245888

Crisis Management and Resolution; Early Lessons from the Financial Crisis

Pazarbasioglu, Ceyla; Laeven, Luc; Nedelescu, Oana M.; … - International Monetary Fund (IMF) - 2011

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience...

Persistent link: https://www.econbiz.de/10011245897

Equilibrium Limited Liability Contracts in a Landlord-Tenant Market

Dam, Kaniska; Pérez-Castrillo, David - Barcelona Graduate School of Economics (Barcelona GSE) - 2003

We propose a model based on competitive markets in order to analyse an economy with several homogeneous landlords and heterogeneous tenants. We model the landlord- tenant economy as a two-sided matching game and characterise the equilibrium of this market. In equilibrium, contracts are Pareto...

Persistent link: https://www.econbiz.de/10010851498

Qatar; 2010 Article IV Consultation-Staff Report; Staff Statement and Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Direct...

International Monetary Fund (IMF); International … - 2011

Qatar has weathered the global economic crisis well. Enhancement of liquefied natural gas capacity (LNG), government support to the banking system, and increase in public spending sustain the high growth rates. There is a need to monitor aggregate demand to prevent the resurgence of inflation...

Persistent link: https://www.econbiz.de/10011245523

The Too-Important-to-Fail Conundrum; Impossible to Ignore and Difficult to Resolve

Ötker, Inci; Narain, Aditya; Ilyina, Anna; Surti, Jay - International Monetary Fund (IMF) - 2011

DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...

Persistent link: https://www.econbiz.de/10011245890

Bond Restructuring and Moral Hazard; Are Collective Action Clauses Costly?

Becker, Törbjörn I.; Richards, Anthony J.; … - International Monetary Fund (IMF) - 2001

Many official groups have endorsed the wider use by emerging market borrowers of contract clauses which allow for a qualified majority of bondholders to restructure repayment terms in the event of financial distress. Some have argued that such clauses will be associated with moral hazard and...

Persistent link: https://www.econbiz.de/10005248328

Moral Hazard and International Crisis Lending: A Test

Dell'Ariccia, Giovanni; Zettelmeyer, Jeromin; Schnabel, … - International Monetary Fund (IMF) - 2002

We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailout of Russia in August 1998 is interpreted as an event that decreased the perceived...

Persistent link: https://www.econbiz.de/10005263951

A Model of the Imf As a Coinsurance Arrangement

Chami, Ralph; Shim, Ilhyock; Sharma, Sunil - International Monetary Fund (IMF) - 2004

The paper shows that a coinsurance arrangement among countries can, in principle, play a useful role in helping countries bear the risks involved in developing their economies and integrating into the global financial system. The operation of the coinsurance arrangement is examined under...

Persistent link: https://www.econbiz.de/10005264158