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Reforming Pensions in Europe: Economic Fundamentals and Political Factors

Schneider, Ondrej - CESifo - 2009

This paper analyzes pension reforms in Europe and their determinants. As pension reforms are intrinsically difficult to define and pinpoint, we introduce an alternative measure of pension reforms by comparing long-term forecasts of pension expenditures for seventeen European countries. The...

Persistent link: https://www.econbiz.de/10005051528

Evidence on the Political Principal-Agent Problem from Voting on Public Finance for Concert Halls

Potrafke, Niklas - CESifo - 2013

Principal-agent problems can arise when preferences of voters are not aligned with preferences of political representatives. Often the consequence of the political principal-agent problem is political catering to special interests. In this paper I provide examples of principal-agent problems...

Persistent link: https://www.econbiz.de/10010877857

Fiscal Rules and the Opportunistic Behaviour of the Incumbent Politician: Evidence from Italian Municipalities

Bartolini, David; Santolini, Raffaella - CESifo - 2009

Previous studies on electoral competition show that fiscal variables are manipulated by incumbent politicians in order to be re-elected. This phenomenon has been addressed by the literature on electoral budget cycle and, in a decentralised economy, by the literature on yardstick competition. Our...

Persistent link: https://www.econbiz.de/10005000400

How to Tame two Leviathans? Revisiting the Effect of Direct Democracy on Local Public Expenditure

Galletta, Sergio; Jametti, Mario - CESifo - 2012

We explore how the vertical structure of direct democracy in a federal context affects expenditure decisions of sub-central governments. In so doing we revisit previous research on the effect of direct democratic institution on public policies. Particularly, the effect of upper-level (state)...

Persistent link: https://www.econbiz.de/10010592132

The Power of Parties

Fiva, Jon H.; Folke, Olle; Sørensen, Rune J. - CESifo - 2013

As with the market for goods and services, democratic competition involves political parties offering their services (policy programs) to citizen-consumers who vote for their preferred partisan supplier. Little is known about the partial effect of a shift in parties’ seat shares for given...

Persistent link: https://www.econbiz.de/10010627555

Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - CESifo - 2011

We document that trust in public institutions—and particularly trust in banks, business and government—has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...

Persistent link: https://www.econbiz.de/10008872215

Is the Political Business Cycle for Real?

Blomberg, S. Brock; Hess, Gregory D. - CESifo - 2001

This paper constructs and examines a macroeconomic model which combines features from both real and political business cycle models. We augment a standard real business cycle tax model by allowing for varying levels of government partisanship and competence in order to replicate two important...

Persistent link: https://www.econbiz.de/10005416501

Pass-through of CO2 Emission Costs to Hourly Electricity Prices in Germany

Hintermann, Beat - CESifo - 2014

I estimate the level of emissions cost pass-through to hourly wholesale electricity prices in Germany, based on spot … generation, and intersecting it with residual demand for fossil-based electricity for every hour. Determining the marginal … electricity prices by at least 84 %, with a central range of 98 %–104 % for different load periods. My results suggest that there …

Persistent link: https://www.econbiz.de/10010948833

Powering Up Developing Countries through Integration?

Auriol, Emmanuelle; Biancini, Sara - CESifo - 2012

Power market integration is analyzed in a two countries model with nationally regulated firms and costly public funds. If generation costs between the two countries are too similar negative business-stealing outweighs efficiency gains so that following integration welfare decreases in both...

Persistent link: https://www.econbiz.de/10010556079

Privatising Network Industries

Newbery, David - CESifo - 2004

Persistent link: https://www.econbiz.de/10005765806

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