From Decentralisation of Planning to Peoples Planning - Experiences of the Indian States of Kerala and West Bengal by Charvak, 2000: The Discussion Paper attempts a comparison of the process of decentralisation of planning in the two States that have made significant progress in this area. The...

Lack of coordination among agencies at project level and scarce promotion of contracts at micro-scale are critical gaps widely spread in many Latin American regions. We discuss some specific and feasible mechanisms, namely: (i) alliances for rural development and (ii) contract promoters; that...

Using quarterly data for the period since 1987 this paper explores, in the context of a small model of the EU economy, the degree to which monetary policy has been asymmetric. It shows in particular that monetary policy has been much more responsive to threats that inflation would lie outside...

This paper examines and estimate the three GARCH(1,1) models (GARCH, EGARCH and GJR-GARCH) using the daily price data. Two Asian stock indices KLCI and STI are studied using daily data over a 14-years period. The competing Models include GARCH, EGARCH and GJR-GARCH used with three different...

Agency costs are a cost of production, and firms that do a better job of minimizing these costs should exhibit better performance. This paper tests this hypothesis by calculating the performance elasticity of average employee hourly compensation for U.S. manufacturing firms. This elasticity...

This paper deals with the optimality of teacher incentive contracts in the presence of costly or limited government resources. It considers educational production under asymmetric information as a function of teacher effort and class size. In the presence of costly government resources and...

For groups that must make several decisions of similar form, we define a simple and general mechanism that is designed to promote social efficiency. The mechanism links the various decisions by forcing agents to budget their representations of preferences so that the frequency of preferences...