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Curbing Power or Progress? Governing with an Opposition Veto

Morgenstern, Albrecht - 2004

Veto institutions are often dominated by government opponents with rival electoral and policy interests (e.g. \divided government"). I investigate the tradeoff between policy control and policy blockade when both the government and the veto party may cater to opposing special interests. The...

Persistent link: https://www.econbiz.de/10010263107

Policies from Evidence that Risk Starvation Causes Dementias and Depressions and May Contribute to a Range of Other Brain Morbidities

Pope, Robin - 2009

In rich countries, the population percentage under drug therapy for depressions is rising rapidly decade by decade for children, adolescent and young adults with no evidence of any long term success for this chronic ailment. There is also in rich countries relative to most poor ones, for each...

Persistent link: https://www.econbiz.de/10010270003

Contests Among Bureaucrats

Bös, Dieter - 2002

This paper deals with double lobbying: several bureaucrats participate in joint lobbying to get a high total … departmental budget, but they also engage in antagonistic lobbying to reap as high a share of the total budget as possible. The … antagonistic lobbying constitutes a contest among the bureaucrats. This paper characterizes the Nash equilibria in lobbying and …

Persistent link: https://www.econbiz.de/10010263072

Self-Correcting Mechanisms in Public Procurement: Why Award and Contract Should be Separated

Bös, Dieter; Kolmar, Martin - 2000

agency is corrupt, but may also occur in the case of lobbying. …

Persistent link: https://www.econbiz.de/10010317661

Trader Anonymity, Price Formation and Liquidity

Theissen, Erik - 2002

Using data from the Frankfurt Stock Exchange we analyze price formation and liquidity in a non-anonymous environment with similarities to the floor of the NYSE. Our main hypothesis is that the non-anonymity allows the specialist to assess the probability that a trader trades on the basis of...

Persistent link: https://www.econbiz.de/10010263065

The Wage Policy of Firms: Comparative Evidence for the U.S. and Germany from Personnel Data

Grund, Christian - 2002

The wage policy of a German and a U.S. firm is comparatively analysed with a focus on the relation between wages and hierarchies. While prior studies examine only one particular firm, in this paper two plants of the same owners with similar production processes in different institutional...

Persistent link: https://www.econbiz.de/10010263074

Monetary Policy in Europe: Evidence from Time-Varying Taylor Rules

Wesche, Katrin - 2003

We estimate monetary policy reaction functions for France, Germany, Italy, the United Kingdom, and the United States using a Markov-switching model that incorporates switching in the monetary policy regime as well as an independent switching process for shifts in the state of the economy....

Persistent link: https://www.econbiz.de/10010263091

Cointegration and Regime-Switching Risk Premia in the U.S. Term Structure of Interest Rates

Tillmann, Peter - 2003

To date the cointegrating properties and the regime-switching behavior of the term structure are two separate strands of the literature. This paper integrates these lines of research and introduces regime shifts into a cointegrated VAR model. We argue that the short run dynamics of the...

Persistent link: https://www.econbiz.de/10010263095

Estimating the Probability of Informed Trading: Does Trade Misclassification Matter?

Grammig, Joachim G.; Theissen, Erik - 2002

Easley / Kiefer / O'Hara / Paperman (1996) (EKOP) have proposed an empirical methodology that allows to estimate the probability of informed trading and that has subsequently been used to address a wide range of issues in market microstructure. The data needed for estimation is the number of...

Persistent link: https://www.econbiz.de/10010274034