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Can a ban on child labour be self-enforcing, and would it be efficient?
Cigno, Alessandro - 2024
credit-backed policy including a subsidy to parents, and a tax on skilled adults. A First Best is out of reach of the use …
Persistent link: https://www.econbiz.de/10014505309
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Wage posting as a positive selection device : theory and empirical evidence
Gartner, Hermann; Holzner, Christian - 2015
We use the German Job Vacancy Survey to investigate whether firms are able to attract more suitable applicants by offering bargain wages rather than posting fixed wages. Contrary to the theoretical predictions provided by the literature, we find that the offer to bargain over pay decreases the...
Persistent link: https://www.econbiz.de/10011310001
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Income tax buyouts and income tax evasion
Goerke, Laszlo - 2014
A tax buyout is a contract between tax authorities and a tax payer which reduces the marginal income tax rate in exchange for a lump-sum payment. While previous contributions have focussed on labour supply, we consider the interaction with tax evasion and show that a buyout can increase expected...
Persistent link: https://www.econbiz.de/10010237195
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Second-degree moral hazard in a real-world credence goods market
Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013 - This version: 16 October 2013
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...
Persistent link: https://www.econbiz.de/10010199693
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Corporate taxation and financial strategies under asymmetric information
Cohen, Francesco; Fedele, Alessandro; Panteghini, Paolo - 2014
In this article we study the corporate tax effects on credit market equilibria. In particular, we develop a model that … leverage and profitability, iii) the existence of asymmetric information in credit markets, iv) the screening activity of … corporate loans. Assuming the existence of two types of firms, we show that either a separating or a pooling credit market …
Persistent link: https://www.econbiz.de/10010347029
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Regulatory arbitrage and the efficiency of banking regulation
Boyer, Pierre C.; Kempf, Hubert - 2016
We study the efficiency of banking regulation under financial integration. Banks freely choose the jurisdiction where to locate their activities and have private information about their efficiency level. Regulators non-cooperatively offer any regulatory contract that satisfies information and...
Persistent link: https://www.econbiz.de/10011458020
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Optimal design of intergovernmental grants under asymmetric information
Huber, Bernd; Runkel, Marco - 2003
This paper develops a theoretical explanation why it may be optimal for higher-level governments to pay categorical block grants or closed-ended matching grants to local governments. We consider a federation with two types of local governments which differ in the cost of providing public goods....
Persistent link: https://www.econbiz.de/10011507744
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Legal uncertainty as a welfare enhancing screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011557794
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Softening competition by enhancing entry : an example from the banking industry
Bouckaert, Jan; Degryse, Hans - 2002
We show that competing firms relax overall competition by lowering future barriers to entry. We illustrate our findings in a two-period model with adverse selection where banks strategically commit to disclose borrower information. By doing this, they invite rivals to enter their market....
Persistent link: https://www.econbiz.de/10011541031
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Cake-eating with private information
Gerlagh, Reyer; Liski, Matti - 2014
consumers' inability to immediately adjust demand. Two puzzles that a standard exhaustible-resource theory cannot explain are …
Persistent link: https://www.econbiz.de/10010428833