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Vote-Buying and Growth
Gersbach, Hans; Mühe, Felix - 2008
Vote-buying is widely used by parties in developing countries to influence the outcome of elections. We examine the impact of vote-buying on growth. We consider a model with a poverty trap where redistribution can promote growth. We show that vote-buying contributes to the persistence of poverty...
Persistent link: https://www.econbiz.de/10011753158
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Forward Guidance for Monetary Policy: Is It Desirable?
Gersbach, Hans; Hahn, Volker - 2008
may reveal private information of the central bank. We argue that vague, non-binding statements may be desirable. Second …
Persistent link: https://www.econbiz.de/10011753148
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Signalling and commitment : monetary versus inflation targeting
Gersbach, Hans; Hahn, Volker - 2003
Persistent link: https://www.econbiz.de/10013424367
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Information Aggregation in Democratic Mechanisms
Britz, Volker - 2016
benefits only if they aggregate their private information. Some members of the society, however, are harmed by socially … desirable policies and aim at manipulating information aggregation by misrepresenting their private information. We show that … information can be aggregated and a socially desirable policy can be implemented under a new class of democratic mechanisms …
Persistent link: https://www.econbiz.de/10012994342
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Testing for trade-induced investment-led growth
Baldwin, Richard E.; Seghezza, Elena - 1996
Persistent link: https://www.econbiz.de/10000928508
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Trade-induced investment-led growth
Baldwin, Richard E. - 1996
Persistent link: https://www.econbiz.de/10013422230
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On the Design of Global Refunding and Climate Change
Gersbach, Hans; Winkler, Ralph - 2007
We design a global refunding scheme as a new international approach to address climate change. A global refunding system allows each country to set its carbon emission tax, while aggregate tax revenues are partially refunded to member countries in proportion to the relative emission reductions...
Persistent link: https://www.econbiz.de/10011753133
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Minority Voting and Long-term Decisions
Fahrenberger, Theresa; Gersbach, Hans - 2007
In this paper we propose minority voting as a scheme that can partially protect individuals from the risk of repeated exploitation. We consider a committee that meets twice to decide about projects where the first-period project may have a long-lasting impact. In the first period a simple open...
Persistent link: https://www.econbiz.de/10011753134
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On the Design of Basic-Research Policy
Gersbach, Hans; Schneider, Maik T.; Schneller, Olivier - 2008
We augment a Schumpeterian growth model with a public basic-research sector to examine how much a country should invest in basic research. We find that the closer the country is to the world’s technological frontier the more the government should invest in basic research. Basic-research...
Persistent link: https://www.econbiz.de/10011753143
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Banking with Contingent Contracts, Macroeconomic Risks, and Banking Crises
Gersbach, Hans - 2008
We examine banking competition when deposit or loan contracts contingent on macroeconomic shocks become feasible. We show that the risk allocation is efficient, provided that banks are not bailed out. In this case, banks may shift part of the risk to depositors. The private sector insures the...
Persistent link: https://www.econbiz.de/10011753157