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Tenancy Rent Control and Credible Commitment in Maintenance

Arnott, Richard J. - 2014

Under tenancy rent control, rents are regulated within a tenancy but not between tenancies. This paper investigates the … effects of tenancy rent control on housing quality and maintenance. Since the discounted revenue received over a fixed …-duration tenancy depends only on the starting rent, intuitively the landlord has an incentive to spruce up the unit between tenancies …

Persistent link: https://www.econbiz.de/10013058510

The Impact of City Contracting Set-Asides on Black Self-Employment and Employment

Chatterji, Aaron K.; Chay, Kenneth Y.; Fairlie, Robert W. - CESifo - 2013

In the 1980s, many U.S. cities initiated programs reserving a proportion of government contracts for minority-owned businesses. The staggered introduction of these set-aside programs is used to estimate their impacts on the self-employment and employment rates of African-American men. Black...

Persistent link: https://www.econbiz.de/10010636597

Financial Constraints and Moral Hazard: The Case of Franchising

Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - CESifo - 2013

Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...

Persistent link: https://www.econbiz.de/10010877784

Labor Market Pooling, Outsourcing and Labor Contracts

Picard, Pierre M.; Wildasin, David E. - 2014

Economic regions, such as urban agglomerations, face external demand and price shocks that produce income risk. Workers in large and diversified agglomerations may benefit from reduced wage volatility, while firms may outsource the production of intermediate goods and realize benefits from...

Persistent link: https://www.econbiz.de/10014204210

The Economics of a Multilateral Investment Agreement

Che, Jiahua - 2012

This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement,...

Persistent link: https://www.econbiz.de/10012754890

Cross-Country Income Differences and Technology Diffusion in a Competitive World

Irmen, Andreas - 2012

This paper develops a new open-economy endogenous growth model where technology diffusion allows for a stable and non-degenerate world income distribution. In accordance with the empirical literature, I find that country characteristics such as the social infrastructure, the degree of openness,...

Persistent link: https://www.econbiz.de/10012754962

Enlargement versus Deepening : The Trade-Off Facing Economic Unions

Lorz, Oliver - 2012

This paper analyzes the relationship between the size of an economic union and the degree of policy centralization. We consider a political economy setting in which elected representatives bargain about the degree of centralization within the union. In our model strategic delegation affects the...

Persistent link: https://www.econbiz.de/10012754994

The Customs Union Issue : Why Do We Observe so Few of Them?

Facchini, Giovanni - 2012

The number of preferential trade agreements has greatly increased over the past two decades, yet most existing bilateral arrangements take the form of free trade areas, and less than ten percent can be considered to be fully fledged customs unions. This paper develops a political economy model...

Persistent link: https://www.econbiz.de/10012755036

Variable Selection and Inference for Multi-Period Forecasting Problems

Pesaran, M. Hashem - 2011

This paper conducts a broad-based comparison of iterated and direct multi-step forecasting approaches applied to both univariate and multivariate models. Theoretical results and Monte Carlo simulations suggest that iterated forecasts dominate direct forecasts when estimation error is a...

Persistent link: https://www.econbiz.de/10012756285

Forecasting Random Walks Under Drift Instability

Pesaran, M. Hashem - 2011

This paper considers forecast averaging when the same model is used but estimation is carried out over different estimation windows. It develops theoretical results for random walks when their drift and/or volatility are subject to one or more structural breaks. It is shown that compared to...

Persistent link: https://www.econbiz.de/10012756639

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