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Rent-seeking competition from State coffers : a calibrated DSGE model of the Euro area

Angelopoulos, Konstantinos; Philippopoulos, Apostolis; … - 2006

This paper incorporates an uncoordinated struggle for extra fiscal favors into an otherwise standard Dynamic Stochastic General Equilibrium model. This reflects the popular belief that interest groups compete for privileged transfers and tax treatment at the expense of the general public...

Persistent link: https://www.econbiz.de/10010261402

A model of strategic delegation in contests between groups

Brandauer, Stefan; Englmaier, Florian - 2006

We analyze a contest between two groups where group members have differing valuations for the contested rent. Generically the pivotal group member with the median valuation of the rent will not act himself but will want to send a group member that has preferences different to her own into the...

Persistent link: https://www.econbiz.de/10010261408

Intergovernmental grants and bureaucratic power

Dahlberg, Matz; Lundqvist, Heléne; Mörk, Eva - 2008

In their role as agenda setters and implementers of political decisions, bureaucrats potentially have the power to influence decisions in their own favor. It is however difficult to empirically test whether bureaucrats actually are involved in such actions. In this paper we suggest and apply a...

Persistent link: https://www.econbiz.de/10010264462

Political Culture and Discrimination in Contests

Epstein, Gil S.; Mealem, Yosef; Nitzan, Shmuel - 2010

Many economic and political decisions are the outcome of strategic contests for a given prize. The nature of such contests can be determined by a designer who is driven by political considerations with a specific political culture. The main objective of this study is to analyze the effect of...

Persistent link: https://www.econbiz.de/10010274763

External sovereign debt in a monetary union: Bailouts and the role of corruption

Achury, Carolina; Koulovatianos, Christos; Tsoukalas, … - 2011

We build a tractable stylized model of external sovereign debt and endogenous international interest rates. In corrupt economies with rent-seeking groups stealing public resources, a politico-economic equilibrium is characterized by permanent fiscal impatience which leads to excessive issuing of...

Persistent link: https://www.econbiz.de/10010277405

Real convergence, price level convergence and inflation differentials in Europe

Égert, Balázs - 2007

economic convergence may push up inflation rates in transition economies. Cyclical effects and regulated prices are found to be … exchange rate plays a prominent (but declining) role in transition economies. …

Persistent link: https://www.econbiz.de/10010264234

Neutral taxation of shareholder income?: corporate responses to an announced dividend tax

Alstadsæter, Annette; Fjaerli, Erik - 2009

The introduction of the 2006 Norwegian shareholder income tax was announced in advance, and it increased top marginal tax rates on individual dividend income from zero to 28 percent. We document strong timing effects on dividend payout on a large panel of non-listed corporations, with a surge of...

Persistent link: https://www.econbiz.de/10010264543

Asymmetry in volatility: A comparison of developed and transition stock markets

Wdowiński, Piotr; Malecka, Marta - 2010

ARCH modelling framework of Engle (1982) and its GARCH generalization of Bollerslev (1986) gave a huge impetus to econometric model building in the field of financial time series with time-varying variance. The main idea of the models was to describe the most typical features of capital markets...

Persistent link: https://www.econbiz.de/10010270556

Modeling institutions, start-ups and productivity during transition

Brixiova, Zuzana; Égert, Balázs - 2010

The transition paths from plan to market have varied markedly across countries. Central and Eastern European and the … firms at an earlier stage of transition, underscoring the importance of reforms. The role of the state sector as an employer … during transition rises in countries where reforming institutions is particularly costly. …

Persistent link: https://www.econbiz.de/10010273819

Good institutions are not enough: Ongoing challenges of East German development

Carlin, Wendy - 2010

A major theme in accounts of the transitional recession and delayed convergence in post-communist economies is the role of institutions. Yet via unification, East Germany had immediate access to credible, high quality institutions. This paper argues that success in a capitalist economy depends...

Persistent link: https://www.econbiz.de/10010274948