Showing 31 - 40 of 51
. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic …
Persistent link: https://www.econbiz.de/10010333384
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
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
This paper studies the social value of public information in environments without common knowledge of data-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret private or public signals in the way that they...
Persistent link: https://www.econbiz.de/10010281863
This paper investigates the effects on tacit collusion of increased market transparency on the consumer side of a … market in a differentiated Hotelling duopoly. Increasing market transparency increases the benefits to a firm from … sustain. In the limiting homogeneous market, the effect vanishes. Here market transparency does not affect the possibilities …
Persistent link: https://www.econbiz.de/10010315263
This paper reports the results of a survey among private sector economists about credibility and transparency of …
Persistent link: https://www.econbiz.de/10010315933
This paper studies how pay transparency affects organizations that reward employees based on their efforts (i.e., using … “subjective performance evaluation”). First, we show that transparency triggers social comparisons that require the organization …, we show that transparency enables the employees to collectively sanction the organization for reneging on subjective …
Persistent link: https://www.econbiz.de/10012492995
markets. Finally, we study how the intermediary responds to policies designed to enhance transparency or consumer privacy, and …
Persistent link: https://www.econbiz.de/10012657905
We consider ultimatum bargaining over the provision of a public good. Offer-maker and responder can delegate their decisions to agents, whose actual decision rules are opaque. We show that the responder will benefit from strategic opacity, even with bilateral delegation. The incomplete...
Persistent link: https://www.econbiz.de/10013353483
We run an online experiment to study the origins of algorithm aversion. Participants are either in the role of workers or of managers. Workers perform three real-effort tasks: task 1, task 2, and the job task which is a combination of tasks 1 and 2. They choose whether the hiring decision...
Persistent link: https://www.econbiz.de/10013427754