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The Political Economy of Bank- and Market Dominance

Perotti, Enrico; Thadden, Ernst Ludwig von - Tinbergen Instituut - 2004

Legislation affects corporate governance and the return to human and financial capital. We allow the preference of a political majority to determine both the governance structure and the extent of labor rents. In a society where median voters have relatively more at stake in the form of human...

Persistent link: https://www.econbiz.de/10011255512

Washington meets Wall Street: A Closer Examination of the Presidential Cycle Puzzle

Kraeussl, R.; Lucas, A.; Rijsbergen, D.; Sluis, P.J. van der - Tinbergen Instituut - 2008

This paper tests the policitcal dimensions of the presidential cycle effect in U.S. financial markets. The presidential cycle effect states that average stock market returns are significantly higher in the last two years compared to the first two years of a presidential term. We confirm the...

Persistent link: https://www.econbiz.de/10011255919

The Political Economy of Corporate Control

Perotti, Enrico; Thadden, Ernst-Ludwig von - Tinbergen Instituut - 2005

In a democracy, a political majority can influence both the corporategovernance structure and the return to human and financial capital.We argue that when financial wealth is sufficiently diffused, thereis political support for a strong governance role for dispersed equitymarket investors, and...

Persistent link: https://www.econbiz.de/10011256718

Growth and Inequality: A Meta-Analysis

Dominicis, Laura de; Groot, Henri L.F. de; Florax, … - Tinbergen Instituut - 2006

In recent years there has been a growing interest in the impact of inequality on economic growth. Both theoretical and … part of the literature that considers inequality detrimental to growth, more recent studies have challenged this result and … found a positive effect of inequality on growth. This paper contributes to the debate by using meta-analytical techniques to …

Persistent link: https://www.econbiz.de/10011255579

Inflation Stabilization, Fiscal Deficits and Public Debt Management in Poland

Wijnbergen, Sweder van; Budina, Nina - Tinbergen Instituut - 1999

Poland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assessPoland's domestic and foreign debt management policies and...

Persistent link: https://www.econbiz.de/10011257121

Favoritism in the Public Provision of Goods in Developing Countries

Batabyal, Amitrajeet A.; Nijkamp, Peter - Tinbergen Instituut - 2004

group of citizens should a corrupt government official favor? In addition,what should be the basis for this favoritism? To … citizens. Next, we show that the nature of this favoritism depends not only on the bribes receivedby the corrupt government …

Persistent link: https://www.econbiz.de/10011257438

Do Floods have Permanent Effects? Evidence from the Netherlands

Husby, Trond G.; Groot, Henri L.F. de; Hofkes, Marjan W.; … - Tinbergen Instituut - 2013

This study investigates the short- and long-run impact on population dynamics of the major flood in the Netherlands in 1953. A dynamic difference-in-differences analysis reveals that the flood had an immediate negative impact on population growth, but limited long term effects. In contrast, the...

Persistent link: https://www.econbiz.de/10011257252

The Political Economy of Financial Systems

Haber, Stephen; Perotti, Enrico - Tinbergen Instituut - 2008

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...

Persistent link: https://www.econbiz.de/10011255875

What to put on and what to keep off the Table? A Politician's Choice of which Issues to address

Sayag, Rei S.; Swank, Otto H. - Tinbergen Instituut - 2012

At the start of their term, politicians often announce which issue they intend to address. To shed light on this agenda setting, we develop a model in which a politician has to decide whether or not to address a public issue. Addressing an issue means that the politician investigates the issue...

Persistent link: https://www.econbiz.de/10011256020

The Political Economy of Finance

Perotti, Enrico - Tinbergen Instituut - 2013

This survey reviews how a recent political economy literature helps explaining variation in governance, competition, funding composition and access to credit. Evolution in political institutions can account for financial evolution, and appear critical to explain rapid changes in financial...

Persistent link: https://www.econbiz.de/10011256233