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Welfare State vs. Market Forces in a Globalization Era
Razin, Assaf - 2019
Globalization radically changes income distribution and triggers intense international tax competition. Therefore, globalization entails an extensive restructuring of the welfare state. We analyze a parsimonious model of an open economy, in its trade and finance transactions with the rest of the...
Persistent link: https://www.econbiz.de/10012480145
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Culture, Institutions & the Long Divergence
Bisin, Alberto; Rubin, Jared; Seror, Avner; Verdier, Thierry - National Bureau of Economic Research - 2021
Recent theories of the Long Divergence between Middle Eastern and Western European economies focus on Middle Eastern (over-)reliance on religious legitimacy, use of slave soldiers, and persistence of restrictive proscriptions of religious (Islamic) law. These theories take as exogenous the...
Persistent link: https://www.econbiz.de/10012482703
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Federalism's Values and the Value of Federalism
Inman, Robert P. - 2008
policy-making does have a unique contribution to make to a society's ability to enforce property rights, to protect political …
Persistent link: https://www.econbiz.de/10012464912
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The New Comparative Economics
Djankov, Simeon - 2003
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand...
Persistent link: https://www.econbiz.de/10012469090
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The Indigenous Roots of Representative Democracy
Bentzen, Jeanet Sinding; Hariri, Jacob Gerner; … - 2015
We document that rules for leadership succession in ethnic societies that antedate the modern state predict contemporary political regimes; leadership selection by election in indigenous societies is associated with contemporary representative democracy. The basic association, however, is...
Persistent link: https://www.econbiz.de/10012457474
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On the Ends of the State : Stationary Bandits and the Time Horizon in Eastern Congo
Henn, Soeren J.; Mugaruka, Christian M.; Ortiz, Miguel; … - National Bureau of Economic Research - 2021
armed actors' property rights over stealing from that economy are secure. By 2009, armed actors taxed, administered, and … violently expropriating the same villages. The findings suggest that the security of property rights over stealing, hence the …
Persistent link: https://www.econbiz.de/10012510510
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Hold-up, Asset Ownership, and Reference Points
Hart, Oliver - 2007
We study two parties who desire a smooth trading relationship under conditions of value and cost uncertainty. A rigid contract fixing price works well in normal times since there is nothing to argue about. However, when value or cost is exceptional, one party will hold up the other , damaging...
Persistent link: https://www.econbiz.de/10012465106
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How Large Is the Housing Wealth Effect? A New Approach
Carroll, Christopher D. - 2006
This paper presents a simple new method for estimating the size of 'wealth effects' on aggregate consumption. The method exploits the well-documented sluggishness of consumption growth (often interpreted as 'habits' in the asset pricing literature) to distinguish between short-run and long-run...
Persistent link: https://www.econbiz.de/10012465914
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Real and Private-Value Assets
Goetzmann, William N.; Spaenjers, Christophe; … - National Bureau of Economic Research - 2021
Real and private-value assets--defined here as the sum of real estate, infrastructure, collectibles, and non-corporate business equity--is an investment class worth an estimated $85 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such...
Persistent link: https://www.econbiz.de/10012496134
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Property Rights and Urban Form
Djankov, Simeon; Glaeser, Edward L.; Perotti, Valeria; … - National Bureau of Economic Research - 2021
density, and makes predictions about investment in land and property, informality, and the efficiency of land use. Our …How do the different elements in the standard bundle of property rights, including those of possession and transfer …, influence the shape of cities? This paper incorporates insecure property rights into a standard model of urban land prices and …
Persistent link: https://www.econbiz.de/10012533342