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The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …
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The purpose of this paper is to analyze the argument that debt relief would increase the incentive of a debtor country to make an adjustment effort (to invest) and that for this reason creditors may benefit by granting relief. It is shown that there are actually opposing incentive effects of...
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Fewer 15-year-olds in East Asian countries reported that they use memorisation than did 15‑year‑olds in some of the English-speaking countries to whom they are often compared. In no PISA-participating education system did boys report more intensive use of memorisation than girls when...
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Some 65% of socio-economically advantaged students reported that they know well or have often heard of the concept of quadratic function, on average across OECD countries; but only 43% of disadvantaged students so reported. On average across OECD countries, the 20% of students who are most...
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