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Ethical Foundations of Financial Regulation
Kane, Edward J. - 1997
Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … and efficiency across society as a whole. Agency-cost theory recognizes that incentive conflicts and coordination problems …
Persistent link: https://www.econbiz.de/10012472798
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Economic Analysis of Welfare Economics, Morality and the Law
Shavell, Steven - 2003
This paper contains the chapters on welfare economics, morality, and the law from a general, forthcoming book …, Foundations of Economic Analysis of Law (Harvard University Press, 2003). I begin in chapter 26 with a discussion of the normative …, which play an important, if dominant, role in much normative discourse about law, and I discuss the connections between …
Persistent link: https://www.econbiz.de/10012468998
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Moral Rules and the Moral Sentiments : Toward a Theory of an Optimal Moral System
Kaplow, Louis - 2001
We examine how moral sanctions and rewards, notably the moral sentiments involving feelings of guilt and virtue, would be employed to govern individuals' behavior if the objective were to maximize social welfare. In our model, we analyze how the optimal use of guilt and virtue is influenced by...
Persistent link: https://www.econbiz.de/10012470027
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The Economics of Cultural Transmission and Socialization
Bisin, Alberto - 2010
Cultural transmission arguably plays an important role in the determination of many fundamental preference traits (e.g., discounting, risk aversion and altruism) and most cultural traits, social norms, and ideological tenets ( e.g., attitudes towards family and fertility practices, and attitudes...
Persistent link: https://www.econbiz.de/10012462145
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A Soul's View of the Optimal Population Problem
De la Croix, David; Doepke, Matthias - National Bureau of Economic Research - 2021
A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
Persistent link: https://www.econbiz.de/10012496107
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Economic Development and the Regulation of Morally Contentious Activities
Elias, Julio J. - 2017
The regulation of many activities depends on whether societies consider them morally controversial or "repugnant". Not only have regulation and related ethical concerns changed over time, but there is also heterogeneity across countries at a given time. We provide evidence of this heterogeneity...
Persistent link: https://www.econbiz.de/10012455467
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On Optimal Legal Change, Past Behavior, and Grandfathering
Shavell, Steven - 2007
-based justification for the stability of the law, the literature on legal transitions, and economic writing on optimal legal standards …
Persistent link: https://www.econbiz.de/10012465084
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Financial development and growth in the short and long run
Fisman, Raymond - 2004
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10010523015
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The Effect of Health on Economic Growth : Theory and Evidence
Bloom, David E. - 2001
Macroeconomists acknowledge the contribution of human capital to economic growth, but their empirical studies define human capital solely in terms of schooling. In this paper, we extend production function models of economic growth to account for two additional variables that microeconomists...
Persistent link: https://www.econbiz.de/10012470129
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When Does Capital Account Liberalization Help More than It Hurts?
Arteta, Carlos - 2001
strong institutions, as measured by standard indicators of the rule of law, but only weak evidence that the benefits grow …
Persistent link: https://www.econbiz.de/10012470268