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The Political Economy of Corporate Governance

Pagano, Marco; Volpin, Paolo - C.E.P.R. Discussion Papers - 2001

The Paper analyses the political decision that determines the degree of investor protection. We show that entrepreneurs and workers can strike a political agreement by which low investor protection is exchanged for high employment protection. This ‘corporatist’ agreement is feasible if the...

Persistent link: https://www.econbiz.de/10005666907

On the Evolution of Credibility and Flexible Exchange Rate Target Zones

Avesani, Renzo; Gallo, Giampiero M; Salmon, Mark - C.E.P.R. Discussion Papers - 1995

simulation to provide substantial stabilization for the exchange rate while retaining considerable flexibility and robustness in …

Persistent link: https://www.econbiz.de/10005123996

The Macroeconomic Impact of Flexible Labour Contracts: An Application to Spain

Bentolila, Samuel; Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1991

This paper constructs a theoretical model to study the effects on employment of the introduction of flexible labour contracts (i.e. with low firing costs), which occurred in many European countries in the 1980s, which it then tests on Spanish data. The model predicts that such contracts increase...

Persistent link: https://www.econbiz.de/10005504305

Employment Protection and Globalization in Dynamic Oligopoly

Dewit, Gerda; Leahy, Dermot; Montagna, Catia - C.E.P.R. Discussion Papers - 2003

-stage game with uncertainty it is demonstrated that location is influenced by both flexibility and strategic concerns. We show …

Persistent link: https://www.econbiz.de/10005656238

Legal Institutions, Innovation and Growth

Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - C.E.P.R. Discussion Papers - 2011

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at...

Persistent link: https://www.econbiz.de/10009148877

Between Fordism and Flexibility: The Automobile Industry and its Workers - Past, Present and Future

Tolliday, Steven; Zeitlin, Jonathan - C.E.P.R. Discussion Papers - 1986

Since the days of Henry Ford the automobile industry has served as a model of economic expansion and technological progress based on mass production. But from the mid-1970s, sweeping changes in markets and technology have transformed international competitive conditions and spurred automobile...

Persistent link: https://www.econbiz.de/10005281388

Banking Permits: Economic Efficiency and Distributional Effects

Bosetti, Valentina; Carraro, Carlo; Massetti, Emanuele - C.E.P.R. Discussion Papers - 2008

Most analyses of the Kyoto flexibility mechanisms focus on the cost effectiveness of "where" flexibility (e.g. by … Annex 1 countries). Less attention has been devoted to "when" flexibility, i.e. to the benefits of allowing emission permit …

Persistent link: https://www.econbiz.de/10005114381

Rivalry in Uncertain Export Markets: Commitment versus Flexibility

Dewit, Gerda; Leahy, Dermot - C.E.P.R. Discussion Papers - 2001

flexibility in the firms’ investment decisions. When the government can commit to an export subsidy, it may choose to over- or …

Persistent link: https://www.econbiz.de/10005114444

Flexibility and Collusion with Imperfect Monitoring

Bigoni, Maria; Potters, Jan; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2012

Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection … before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment … after too few noisy signals. The combination of these forces predicts a non-monotonic relationship between flexibility and …

Persistent link: https://www.econbiz.de/10011084106

Why are European Countries Diverging in their Unemployment Experience?

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2004

During the nineties, unemployment fell in a number of European countries while it remained high in others. This Paper discusses potential causes for that evolution in light of recent economic research, emphasizing obstacles to reform due to political constraints, the prevalence of ideology, and...

Persistent link: https://www.econbiz.de/10005666504