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Intergenerational Fiscal Constitutions : How to Protect Future Generations Using Land Taxes and Federalism

Conley, John P. - 2001

This paper studies how to design a fiscal constitution that, by capitalizing intergenerational spillovers into land values, is able to protect future generations from expropriation and to generate optimal investment in intergenerational public goods. In particular, we study how to accomplish...

Persistent link: https://www.econbiz.de/10012470326

Small Countries in Monetary Unions : A Two-Tier Model

de Macedo, Jorge Braga - 1985

In a previous analysis of the West African Monetary Union, Macedo(1985a), size is taken to be a major structural characteristic of a country in the sense that large countries are not affected by disturbances originating in small countries but small countries are affected by large countries'...

Persistent link: https://www.econbiz.de/10012477446

National Sovereignty in an Interdependent World

Bagwell, Kyle - 2004

national sovereignty. In this paper, we propose answers to these two questions. We do so by first developing formal definitions … of national sovereignty that capture features of sovereignty emphasized in the political science literature. We then … utilize these definitions to describe the degree and nature of national sovereignty possessed by governments in a benchmark …

Persistent link: https://www.econbiz.de/10012468444

"Make Us a King" : Anarchy, Predation, and the State

Grossman, Herschel I. - 1997

In order to enforce a collective choice to allocate resource to guarding against predators producers must subject themselves to the state's sovereign power to tax and to spend. But these sovereign powers in hand the state can exploit the producers by taxing and spending for its" own purposes....

Persistent link: https://www.econbiz.de/10012472524

Currency crises

Krugman, Paul R. (ed.) - 2000

Persistent link: https://www.econbiz.de/10001465257

Suppressing Asset Price Inflation : The Confederate Experience, 1861-1865

Weidenmier, Marc D. - 2002

Confederate monetary reforms encouraged holders of Treasury notes to exchange these notes for bonds by imposing deadlines on their convertibility. We show that Confederate funding acts aimed at precipitating the conversion of currency into bonds did temporarily suppress currency depreciation....

Persistent link: https://www.econbiz.de/10012469479

Why Not Taxation and Representation? A Note on the American Revolution

Galiani, Sebastian - 2016

Why did the most prosperous colonies in the British Empire mount a rebellion? Even more puzzling, why didn't the British agree to have American representation in Parliament and quickly settle the dispute peacefully? At first glance, it would appear that a deal could have been reached to share...

Persistent link: https://www.econbiz.de/10012455956

The Paradox of Civilization : Pre-Institutional Sources of Security and Prosperity

Dal Bó, Ernesto - 2015

The rise of civilizations involved the dual emergence of economies that could produce surplus ("prosperity") and states that could protect surplus ("security"). But the joint achievement of security and prosperity had to escape a paradox: prosperity attracts predation, and higher insecurity...

Persistent link: https://www.econbiz.de/10012456842

Acquisitions, Productivity, and Profitability : Evidence from the Japanese Cotton Spinning Industry

Braguinsky, Serguey - 2014

We explore how changes in ownership and managerial control affect the productivity and profitability of producers. Using detailed operational, financial, and ownership data from the Japanese cotton spinning industry at the turn of the last century, we find a more nuanced picture than the...

Persistent link: https://www.econbiz.de/10012458762

Global Hegemony and Exorbitant Privilege

Pflueger, Carolin E.; Yared, Pierre - National Bureau of Economic Research - 2024

We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...

Persistent link: https://www.econbiz.de/10015056136