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Political Competition and the Limits of Political Compromise

Cunha, Alexandre B.; Ornelas, Emanuel - C.E.P.R. Discussion Papers - 2014

We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit to future policies, but they can forge a political compromise where each...

Persistent link: https://www.econbiz.de/10011083364

The Role of the Annuity's Value on the Decision (Not) to Annuitize: Evidence from a Large Policy Change

Bütler, Monika; Staubli, Stefan; Zito, Maria Grazia - C.E.P.R. Discussion Papers - 2008

This paper presents new evidence on how the annuitization decision is affected by changes in the annuity's value. We take advantage of an unprecendented change in policy, which in 2004 moderated the super-mandatory Swiss occupational pension scheme: The 20 percent reduction in the rate at which...

Persistent link: https://www.econbiz.de/10005504637

How Changes in Financial Incentives Affect the Duration of Unemployment

Lalive, Rafael; Ours, Jan C van; Zweimüller, Josef - C.E.P.R. Discussion Papers - 2005

This paper studies how changes in the two key parameters of unemployment insurance – the benefit replacement rate (RR) and the potential duration of benefits (PBD) – affect the duration of unemployment. In 1989, the Austrian government made unemployment insurance more generous by changing,...

Persistent link: https://www.econbiz.de/10005114414

The Institutional Foundations of China’s Reforms and Development

Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2010

China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper … analyses China’s institution - a regionally decentralized authoritarian system. The central government has control over …

Persistent link: https://www.econbiz.de/10008468688

Rebalancing Growth in China: A Three-Handed Approach

Blanchard, Olivier J; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2006

Our paper is an attempt to define the contours of the right macroeconomic strategy for China. In a nutshell, we believe …

Persistent link: https://www.econbiz.de/10005114183

Russia's Regions: Income Volatility, Labour Mobility and Fiscal Policy

Kwon, Goohoon; Spilimbergo, Antonio - C.E.P.R. Discussion Papers - 2005

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labour and lacks fiscal instruments to deal with regional shocks. We assess...

Persistent link: https://www.econbiz.de/10005661764

Theoretical and Empirical Determinants of International Labour Mobility: A Greek-German Perspective

Glytsos, Nicholas; Katseli, Louka Tarsitsa - C.E.P.R. Discussion Papers - 1986

Emigration of labour and its subsequent repatriation can best be understood as phases of an intertemporal exchange process, of a relatively abundant factor, namely unskilled labour, for a relatively scarce factor, namely capital. This capital flow initially consists of financial capital, that is...

Persistent link: https://www.econbiz.de/10005662201

Labour Mobility and Fiscal Coordination: Setting Growth Agenda for an Economic Union

Razin, Assaf; Yuen, Chi-Wa - C.E.P.R. Discussion Papers - 1996

Using a human-capital-based growth model, we show the essential role of labour mobility and cross-country tax harmonization in equalizing income levels of countries that start off from different initial income positions. Knowledge spillovers cum labour mobility are the driving forces behind the...

Persistent link: https://www.econbiz.de/10005666441

Eastern Germany Since Unification: Wage Subsidies Remain a Better Way

Begg, David; Portes, Richard - C.E.P.R. Discussion Papers - 1992

In Spring 1991, we argued that the centrepiece of German policy towards unification should be a universal, temporary wage subsidy in Eastern Germany and the elimination of all other subsidies. Subsequent events have strengthened the analytical case for and practical importance of this policy....

Persistent link: https://www.econbiz.de/10005666856

Why Russian Workers Do Not Move: Attachment Of Workers Through In-Kind Payments

Friebel, Guido; Guriev, Sergei - C.E.P.R. Discussion Papers - 2000

We relate the phenomena of sluggish interregional labour reallocation and in-kind compensation in Russia to 'attachment' strategies of firms: Paying wages in non-monetary forms makes it hard for workers to raise the cash needed for quitting their region in order to find better jobs in more...

Persistent link: https://www.econbiz.de/10005788929