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Rent-seeking with scarce talent: a model of preemptive hiring

Dakhlia, Sami; Pecorino, Paul - EconWPA - 2005

In the standard model of a rent-seeking contest, firms optimally employ resources in an attempt to win the contest and obtain the rent. Typically, it is assumed that these resources may be hired at any desired level at some fixed, exogenous per-unit cost. In many real-world rent-seeking...

Persistent link: https://www.econbiz.de/10005077062

Any Link Between Legal Central Bank Independence and Inflation? Evidence from Latin America and the Caribbean

Jácome, Luis; Vázquez, Francisco - EconWPA - 2005

panel regressions, the paper finds a negative relationship between legal central bank independence (CBI) and inflation. This … result holds for three alternative measures of CBI, and after controlling for international inflation, banking crises, and … paper fails, however, to find a causal relationship running from CBI to inflation. …

Persistent link: https://www.econbiz.de/10005126338

Do We Really Need Central Bank Independence? A Critical Re- examination

Hayo, Bernd; Hefeker, Carsten - EconWPA - 2001

correlated with low inflation rates. By taking the endogeneity of CBI into account, however, there is no reason to believe the … correlation between CBI and low inflation tells us anything about causality. …

Persistent link: https://www.econbiz.de/10005126298

Europe’s Quest for Monetary Stability: Central Banking Gone Astray

Bibow, Jorg - EconWPA - 2005

This paper provides an overview of central banking arrangements in those European countries that have adopted the euro. Issues addressed include the structure of the “Eurosystem” and its central banking functions, the kind of independence granted to the system and the role of monetary policy...

Persistent link: https://www.econbiz.de/10005126453

Central Bank Independence Promotes Budgetary Efficiency

Doi, Takero - EconWPA - 1998

This paper shows theoretically that inefficient public expenditure can be institutionally curtailed by an independent central bank. An advantage of our analysis is to employ a two-country model with cash-in- advance constraints. The model can deal with fiscal policy as well as monetary policy...

Persistent link: https://www.econbiz.de/10005556900

Investigating the Intellectual Origins of Euroland’s Macroeconomic Policy Regime: Central Banking Institutions and Traditions in West Germany After the War

Bibow, Jörg - EconWPA - 2004

economic theory had no decisive influence on the outcome, the central bank’s role as a political actor in its own right and in …

Persistent link: https://www.econbiz.de/10005561053

Reflections on the Current Fashion For Central Bank Independence

Bibow, Jörg - EconWPA - 2001

This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...

Persistent link: https://www.econbiz.de/10005561151

The feasibility of adopting inflation targeting in Malawi: an empirical analysis

Simwaka, Kisu - EconWPA - 2004

This study attempts to examine the minimum requirements for adopting an inflation targeting framework in Malawi. First …, we examined four pre- requisites of an inflation targeting framework: a fairy long track record of low and stable … inflation; a degree of independence; having a sole target; and the existence of a predictable and stable relationships between …

Persistent link: https://www.econbiz.de/10005561318

The Icelandic debate on the case for a fishing fee: A non- technical introduction

Matthiasson, Thorolfur - EconWPA - 2000

TResearch by J.D. Sachs and A.M. Warner, indicates that resource-rich countries are less successful in terms of economic growth than are resource-poor countries. The question of what measures Icelanders need to take to prevent their fishery wealth from limiting economic growth is posed. The main...

Persistent link: https://www.econbiz.de/10005076852

Sons of Something: Taxes, Lawsuits and Local Political Control in Sixteenth Century Castile

Drelichman, Mauricio - EconWPA - 2005

The widespread ennoblement of the Spanish bourgeoisie in the sixteenth century has been traditionally considered one of the main causes of Iberian decline. I document and quantify the surge in ennoblement through a new time series of nobility cases preserved in the Archive of the Royal Chancery...

Persistent link: https://www.econbiz.de/10005125846

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