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The (economic) effects of lay participation in courts: a cross-country analysis
Voigt, Stefan - 2008
Legal philosophers like Montesquieu, Hegel and Tocqueville have argued that lay participation in judicial decision-making would have benefits reaching far beyond the realm of the legal system narrowly understood. From an economic point of view, lay participation in judicial decision-making can...
Persistent link: https://www.econbiz.de/10010264411
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Monetary Policy Transparency
Geraats, Petra - 2014
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper …. Furthermore, it reviews the theoretical literature on monetary policy transparency and relevant empirical findings. The focus is …
Persistent link: https://www.econbiz.de/10010333377
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Transparency, Flexibility and Macroeconomic Stabilization
Geraats, Petra - 2014
. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic …
Persistent link: https://www.econbiz.de/10010333384
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Who do you blame in local finance? An analysis of municipal financing in Italy
Bordignon, Massimo; Piazza, Santino - 2010
A 1999 reform allowed Italian Mayors to partially substitute a more accountable source of tax revenue (the property tax) with a less transparent one (a surcharge on the personal income tax). Theoretical analysis suggests this should give incompetent Mayors a less costly way to hide themselves,...
Persistent link: https://www.econbiz.de/10010270475
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Transparency of monetary policy : theory and practice
Geraats, Petra Maria - 2005
Transparency has become one of the main features of monetary policymaking during the last decade. This paper … establishes some stylized facts. In addition, it provides a systematic overview of the practice of monetary policy transparency … framework, including inflation targeting. Nevertheless, the paper finds significant differences in transparency across monetary …
Persistent link: https://www.econbiz.de/10010274033
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Trends in monetary policy transparency
Geraats, Petra Maria - 2009
Transparency has become a prominent feature of monetary policy. This paper provides an overview of central bank … communication practices and is the first to systematically analyze transparency trends throughout the world and across monetary … inflation and economic development have undergone larger increases in transparency. Moreover, it shows that greater transparency …
Persistent link: https://www.econbiz.de/10010274045
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Central bank independence and conservatism under uncertainty: Substitutes or complements?
Hefeker, Carsten; Zimmer, Blandine - 2011
The paper examines the optimal combination of central bank independence and conservatism in the presence of uncertain central bank preferences. We develop a model of endogenous monetary policy delegation in which government chooses the central bank's degree of inde-pendence and conservatism so...
Persistent link: https://www.econbiz.de/10010274857
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Strategic complementarity, fragility, and regulation
Vives, Xavier - 2011
The paper analyzes a very stylized model of crises and demonstrates how the degree of strategic complementarity in the actions of investors is a critical determinant of fragility. It is shown how the balance sheet composition of a financial intermediary, parameters of the information structure...
Persistent link: https://www.econbiz.de/10010277386
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Paid to Quit
Dur, Robert; Schmittdiel, Heiner - 2015
Inspired by a recent observation about an online retail company, this paper explains why a firm may find it optimal to offer an exit bonus to recent hires so as to induce self-selection. We study a double adverse selection problem, in which the principal can neither observe agents’ commitment...
Persistent link: https://www.econbiz.de/10011431184
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Transparency in Parliamentary Voting
Benesch, Christine; Bütler, Monika; Hofer, Katharina E. - 2015
We use a change in the voting procedures of one of the two chambers of the Swiss parliament to explore how transparency …
Persistent link: https://www.econbiz.de/10011431222