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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
We show that armed actors refrain from using their power to arbitrarily steal from an economy if, and only if, the armed actors' property rights over stealing from that economy are secure. By 2009, armed actors taxed, administered, and protected various villages in Democratic Republic of the...
Persistent link: https://www.econbiz.de/10012510510
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Hold-up, Asset Ownership, and Reference Points
Hart, Oliver - 2007
cooperation. We show that a judicious allocation of asset ownership can help by reducing the incentives to engage in hold up. In …
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 …
Persistent link: https://www.econbiz.de/10012533342
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State Versus Private Ownership
Shleifer, Andrei - 1998
Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of … addressed through government contacting and regulation without resort to government ownership. The case for private provision …
Persistent link: https://www.econbiz.de/10012472146
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Property Rights to Frontier Land and Minerals : US Exceptionalism
Libecap, Gary D. - 2018
over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence …
Persistent link: https://www.econbiz.de/10012453172
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Religious Competition and Reallocation : The Political Economy of Secularization in the Protestant Reformation
Cantoni, Davide - 2017
Using novel microdata, we document an unintended, first-order consequence of the Protestant Reformation: a massive reallocation of resources from religious to secular purposes. To understand this process, we propose a conceptual framework in which the introduction of religious competition shifts...
Persistent link: https://www.econbiz.de/10012453780
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Wealth and Property Taxation in the United States
Dray, Sacha; Landais, Camille; Stantcheva, Stefanie - National Bureau of Economic Research - 2023
We study the history and geography of wealth accumulation in the US, using newly collected historical property tax records since the early 1800s. The US General Property Tax was a comprehensive tax on all types of property (real, personal, and financial), making it one of the first "wealth...
Persistent link: https://www.econbiz.de/10014247998
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The Bail-In Problem : Systematic Goals, Ad Hoc Means
Eichengreen, Barry - 2000
, Ecuador, Romania and Ukraine. We show that because default and restructuring are so painful and costly, it is simply not time …
Persistent link: https://www.econbiz.de/10012471114