Showing 1 - 10 of 2,550
The connections between globalization and democracy are a classic question in international political economy and a … positive relationships running both ways between globalization and democracy, though exceptions obtain at particular times …
Persistent link: https://www.econbiz.de/10012466214
In this paper we revisit the relationship between democracy, redistribution and inequality. We first explain the … theoretical reasons why democracy is expected to increase redistribution and reduce inequality, and why this expectation may fail … to be realized when democracy is captured by the richer segments of the population; when it caters to the preferences of …
Persistent link: https://www.econbiz.de/10012458917
This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...
Persistent link: https://www.econbiz.de/10012463319
Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...
Persistent link: https://www.econbiz.de/10012480205
When will a monopolist have incentives to foreclose a complementary market by degrading compatibility/interoperability of his products with those of rivals? We develop a framework where leveraging extracts more rents from the monopoly market by "restoring" second degree price discrimination. In...
Persistent link: https://www.econbiz.de/10012461485
incentives to invest in R&D by internalizing potential externalities. They may also enhance efficiency of standardization by …
Persistent link: https://www.econbiz.de/10012460481
methodological challenges by measuring standardization via national penetration of ISO 9000, allowing standardization to manifest via …-signaling augmenting country-pair trade. Yet, ISO-rich nations (most notably European) benefit the most from standardization, while ISO …
Persistent link: https://www.econbiz.de/10012460527
Persistent link: https://www.econbiz.de/10001791053
most effective ones for processing and aggregating local knowledge. Democracy is a meta-institution for building good …
Persistent link: https://www.econbiz.de/10012471235
-30 percent were Mexico to attain a level of democracy comparable to that prevailing in the U.S …
Persistent link: https://www.econbiz.de/10012472453