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Distributive Politics and the Costs of Centralization
Lockwood, Ben - C.E.P.R. Discussion Papers - 1998
This paper integrates the distributive politics literature with the literature on decentralization by incorporating …. The efficiency of decentralization and the performance of 'constitutional rules' (such as majority voting) which may be … used to choose between decentralization and centralization are then discussed in this framework. Stronger externalities and …
Persistent link: https://www.econbiz.de/10005789145
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The Architecture of Federations: Constitutions, Bargaining, and Moral Hazard
Kessler, Anke; Luelfesmann, Christoph; Myers, Gordon M - C.E.P.R. Discussion Papers - 2009
centralization and decentralization are suboptimal as long as political bargaining does not take place. With bargaining, however, the … first best can often be achieved under decentralization, but not under centralization. At the root of this result is the …
Persistent link: https://www.econbiz.de/10005662248
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Strategic Asset Allocation in Money Management
Basak, Suleyman; Makarov, Dmitry - C.E.P.R. Discussion Papers - 2011
Money managers behave strategically when competing for fund flows within relatively small groups. We study strategic interaction between two risk-averse managers in continuous time, characterizing analytically their unique equilibrium dynamic investments. Driven by chasing and contrarian...
Persistent link: https://www.econbiz.de/10009144728
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Social Networks and Crime Decisions: The Role of Social Structure in Facilitating Delinquent Behaviour
Calvó-Armengol, Antoni; Zenou, Yves - C.E.P.R. Discussion Papers - 2003
We develop a model in which delinquents compete with each other in criminal activities but may benefit from being friends with other criminals (by learning and acquiring proper know-how in the crime business). We first study the Nash equilibrium of this game by taking the social network...
Persistent link: https://www.econbiz.de/10005114148
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Opportunistic Political Cycles: Test in a Young Democracy Setting
Akhmedov, Akhmed; Ravitchev, Alexei; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2003
Despite the fact that theoretical research on opportunistic political cycles is very intuitive and well developed, empirical literature has found fairly weak evidence of opportunistic political cycles. This Paper tests the theory in a decade-old democracy – Russia. We find strong evidence of...
Persistent link: https://www.econbiz.de/10005662200
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Curbing Cream-Skimming: Evidence on Enrolment Incentives
Courty, Pascal; Kim, Do Han; Marschke, Gerald - C.E.P.R. Discussion Papers - 2009
Using data from a large, U.S. federal job training program, we investigate whether enrolment incentives that exogenously vary the ‘shadow prices’ for serving different demographic subgroups of clients influence case workers’ intake decisions. We show that case workers enroll more clients...
Persistent link: https://www.econbiz.de/10005666832
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How Elections Matter: Theory and Evidence from Environmental Policy
List, John; Sturm, Daniel M - C.E.P.R. Discussion Papers - 2004
In this Paper we explore to what extent secondary policy issues are influenced by electoral incentives. We develop a political agency model in which a politician decides on both a frontline policy issue, such as the level of public spending, and a secondary policy issue, such as environmental...
Persistent link: https://www.econbiz.de/10005789133
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Gender Interactions Within Hierarchies: Evidence from the Political Arena
Gagliarducci, Stefano; Paserman, M. Daniele - C.E.P.R. Discussion Papers - 2009
This paper studies gender interactions within hierarchical organizations using a large data set on the duration of Italian municipal governments elected between 1993 and 2003. A municipal government can be viewed as a hierarchy, whose stability over time depends on the degree of cooperation...
Persistent link: https://www.econbiz.de/10005791679
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Fiscal Conservatism in a New Democracy: 'Sophisticated' versus 'Naïve' Voters
Arvate, Paulo; Avelino, George; Tavares, José - C.E.P.R. Discussion Papers - 2008
Several authors claim that voters in new democracies reward deficits at the polls and this fact is due to a lack of 'voter sophistication'. We test this claim for gubernatorial elections in Brazil, an important case study since it is the fourth most populous democracy in the world, displays a...
Persistent link: https://www.econbiz.de/10005792186
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Do Oil Windfalls Improve Living Standards? Evidence from Brazil
Caselli, Francesco; Michaels, Guy - C.E.P.R. Discussion Papers - 2009
We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while onshore oil has only modest effects on non-oil GDP...
Persistent link: https://www.econbiz.de/10008509470