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Presents a complete and detailed constitutional framework applying the rational self-interest model and market mechanisms to intra and inter- governmental behaviour and collective decisions. In particular, the paper presents an enabling mechanism for the creation, adjustment and dissolution of...
Persistent link: https://www.econbiz.de/10005076593
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first … difficult to implement corporatism, although it generally increases social welfare, since it often reduces the union’s utility …. In particular, we show that a micro-founded union will never find it profitable to co- operate with the Government …
Persistent link: https://www.econbiz.de/10005076716
indicate that the original results are not very robust and the relationship between government size and output volatility is …
Persistent link: https://www.econbiz.de/10005125003
Corruption scandals seem to abound in countries that have recently undergone reform. Despite the proliferation of stories in the news media, no one has examined whether reform—be it democratization or economic liberalization or both—actually causes an increase in corruption. Theory provides...
Persistent link: https://www.econbiz.de/10005125949
If bigger objects go into a jar, then there will be space to fill it with smaller objects in sequence. If the order of the objects are reversed, then it ends in filling it at the starting point. Happiness in life is similar to this. Fill high priority needs in the life, and smaller needs can be...
Persistent link: https://www.econbiz.de/10005408439
OIL AS AN ENERGY PROPELLER, IS THE LARGEST INTERNATIONALLY TRADED COMMODITY THAT SHOWS HIGHLY VISIBLE INTERPLAY OF POLITICS AND ECONOMICS IN THE DETERMINATION OF ITS INVESTMENT, PRODUCTION, TRADE AND PRICING POLICIES. THIS UNIQUENESS, NO DOUBT DEMANDS A WELL ARTICULATED OIL POLICY FOR AN OIL...
Persistent link: https://www.econbiz.de/10005412462
or reduce many of the coercive elements of government. …
Persistent link: https://www.econbiz.de/10005412496
standard policy game between the government and a monopoly union. We stress the shortcomings of the traditional way used to … welfare, since it often reduces the union’s utility. In particular, we show that an inflation-neutral union will never find it … profitable to cooperate with the government, unless side-payments are considered. The study of this issue is however beyond the …
Persistent link: https://www.econbiz.de/10005412619
MAKERS AND GOVERNMENT TO CHECK THE OBSERVED UGLY SITUATION. …
Persistent link: https://www.econbiz.de/10005412927
Time is ripe to look at the bonding institutions of Europe in a different way: as instruments able to change the internal dynamics of an economic system. These institutions will put a country attracted by a low and stable equilibrium output onto a path of economic growth. Questions such as under...
Persistent link: https://www.econbiz.de/10005556706