Showing 1 - 10 of 1,006
years of state commission regulation. Examples of an adaptive response pattern on the part of regulators, firms and …
Persistent link: https://www.econbiz.de/10012478245
Regulators and firms often use incentive schemes to attract skillful agents and to induce them to put forth effort in pursuit of the principals' goals. Incentive schemes that reward skill and effort, however, may also punish agents for adverse outcomes beyond their control. As a result, such...
Persistent link: https://www.econbiz.de/10012464967
This paper discusses the fundamental underpinnings and some implications of transaction cost regulation (TCR), a …. TCR sees regulation as the governance structure of these interactions, and thus, as in standard transaction cost economics … possible institutional alternative. In that sense, politics becomes fundamental to understanding regulation as the governance …
Persistent link: https://www.econbiz.de/10012461923
Scholars emphasize that poverty in Britain has risen sharply since the late 1970s. Meanwhile in the United States, both official figures and traditional poverty scholars report sharp declines in poverty. We seek to provide a comparison of poverty levels in Britain and the US based on a set of...
Persistent link: https://www.econbiz.de/10012470471
The extent to which households can self-insure and the government can help them to do so depends on the wage risk that they face and their family structure. We study wage risk in the UK and show that the persistence and riskiness of wages depends on one's age and position in the wage...
Persistent link: https://www.econbiz.de/10012482512
We provide causal evidence that regulatory shocks associated with drug safety label changes lead to aggregate demand declines of 16.9 percent within two years of a relabeling event. After accounting for all plausible substitution patterns by physicians along with competitor actions, aggregate...
Persistent link: https://www.econbiz.de/10012480610
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. However, the manager can use her...
Persistent link: https://www.econbiz.de/10012466463
quantitative estimates of the consequences of government regulation. We estimate the impact of restricting gender-based pricing in …
Persistent link: https://www.econbiz.de/10012466464
Regulations aimed at curbing the entry of large retail stores have been introduced in many countries to protect independent retailers. Analyzing a planning reform launched in the United Kingdom in the 1990s, I show that independent retailers were actually harmed by the creation of entry barriers...
Persistent link: https://www.econbiz.de/10012458867
The regulation of bank capital as a means of smoothing the credit cycle is a central element of forthcoming macro …-prudential regimes internationally. For such regulation to be effective in controlling the aggregate supply of credit it must be the case …
Persistent link: https://www.econbiz.de/10012460836