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Information Transmission within Federal Fiscal Architectures: Theory and Evidence
Dreher, Axel; Gehring, Kai; Kotsogiannis, Christos; … - CESifo - 2013
of unverifiable information and the quality of communication depends on the conflict of interests between the government …
Persistent link: https://www.econbiz.de/10010693469
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Information Transmission and Ownership Consolidation in Aid Programs
Dreher, Axel; Marchesi, Silvia - CESifo - 2013
This paper explores the role of information transmission in explaining donors’ choice between project aid and budget support. Budget support increases the involvement of recipient governments in the decision-making process and can thus be an example of a “delegation-scheme.” Conversely,...
Persistent link: https://www.econbiz.de/10010701088
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Agency and Communication in IMF Conditional Lending: Theory and Empirical Evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - CESifo - 2009
We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...
Persistent link: https://www.econbiz.de/10005051565
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Let's Talk: How Communication Affects Contract Design
Brandts, Jordi; Charness, Gary; Ellman, Matthew - CESifo - 2012
shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent … and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts … considerably more from flexible with communication than rigid without communication. Our results show quite strongly that …
Persistent link: https://www.econbiz.de/10010558687