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Diversity and Public Goods: a Natural Experiment with Exogeneous Residential Allocation

Algan, Yann; Hémet, Camille; Laitin, David - C.E.P.R. Discussion Papers - 2011

This paper demonstrates the effects of ethnic and religious diversity on the quality of public spaces. Its identification strategy relies on the exogeneity of public housing allocations in France, and thereby eliminates the bias from endogenous sorting. The paper uses micro evidence of social...

Persistent link: https://www.econbiz.de/10009351515

Democratic Public Good Provision

Hassler, John; Storesletten, Kjetil; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2003

This Paper analyses an overlapping generation model of public good provision under repeated voting. The public good is financed through age-dependent taxation that distorts human capital investment. Taxes redistribute income both across different skill groups and across generations. We contrast...

Persistent link: https://www.econbiz.de/10005123612

An impure public good model with lotteries in large groups

Cabrales, Antonio; Lugo, Haydée - C.E.P.R. Discussion Papers - 2011

We analyze the effect of a large group on an impure public goods model with lotteries. We show that as populations get large, and with selfish preferences, the level of contributions converges to the one given by voluntary contributions. With altruistic preferences (of the warm glow type), the...

Persistent link: https://www.econbiz.de/10008921774

How to Win a Decision in a Confederation

Jehiel, Philippe; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 2002

This Paper deals with collective decision making within a group of independent jurisdictions. The right to choose the public policy is delegated from the central authority of one of the jurisdictions through a bidding procedure among the group members. We identify the following trade-off:...

Persistent link: https://www.econbiz.de/10005661614

Market Mechanisms for Policy Decisions

Casella, Alessandra - C.E.P.R. Discussion Papers - 2001

The thesis of this Paper is that more transparent, rule-bound and subtle mechanisms for policy coordination will be needed to ensure the success of an enlarged European Union. A common policy is a public good with distributional implications. Economists have developed a large number of plausible...

Persistent link: https://www.econbiz.de/10005123572

The European Contribution to International Financial Stability

Portes, Richard - C.E.P.R. Discussion Papers - 2001

This Paper considers how the European Union, and more specifically the euro area, can contribute to international … financial stability. It sets the issues in the broader framework of financial globalization and international capital mobility …. Sections 1-3 discuss globalization, international financial stability, and current threats to it – notably, potential crises in …

Persistent link: https://www.econbiz.de/10005114310

Does a Currency Union Affect Trade? The Time Series Evidence

Glick, Reuven; Rose, Andrew K - C.E.P.R. Discussion Papers - 2001

Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set …

Persistent link: https://www.econbiz.de/10005666714

Basel II and Bank Lending to Emerging Markets: Micro Evidence from German Banks

Liebig, Thilo; Porath, Daniel; Weder di Mauro, Beatrice; … - C.E.P.R. Discussion Papers - 2005

This paper investigates whether the new Basel Accord will induce a change in bank lending to emerging markets using a new loan level data set on German banks' foreign exposure. We test two interlinked hypotheses on the conditions under which the change in the regulatory capital would leave...

Persistent link: https://www.econbiz.de/10005788885

Multinational Banking in Europe: Financial Stability and Regulatory Implications Lessons from the Financial Crisis

Barba Navaretti, Giorgio; Calzolari, Giacomo; Levi, Micol; … - C.E.P.R. Discussion Papers - 2010

This paper examines whether multinational banks have a stabilising or a destabilising role during times of financial distress. With a focus on Europe, it looks at how these banks’ foreign affiliates have been faring during the recent financial crisis. It finds that retail and corporate lending...

Persistent link: https://www.econbiz.de/10008468703

Regulatory Capture by Sophistication

Hakenes, Hendrik; Schnabel, Isabel - C.E.P.R. Discussion Papers - 2014

One explanation for the poor performance of regulation in the recent financial crisis is that regulators had been captured by the financial sector. We present a micro-founded model with rational agents in which banks capture regulators by their sophistication. Banks can search for arguments of...

Persistent link: https://www.econbiz.de/10011083329

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