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Government agencies typically have a certain freedom to choose among different possible courses of action. This paper studies agency decision-making on priorities in a principal-agent framework with multi-tasking. The agency head (the principal) has discretion over part of the agency's budget to...
Persistent link: https://www.econbiz.de/10010532608
Democracies delegate substantial decision power to politicians. Using a model in which an incumbent can design, examine and implement public policies, we show that examination takes place in spite of, rather than thanks to, elections. Elections are needed as a carrot and a stick to motivate...
Persistent link: https://www.econbiz.de/10011334365
This paper explores the feasibility to extend the Standard Cost Model (SCM) for calculating the costs of government regulation by taking all transaction costs into account which stem from the principal/agent relationship between regulatory authorities and economic entities. From that perspective...
Persistent link: https://www.econbiz.de/10011377583
networks expanded in a less interior-to-coast way in periods of democracy. This result suggests that Africa's interior …-to-coast way in periods of democracy. This result suggests that Africa's interior-to-coast roads are at least in part the result of …
Persistent link: https://www.econbiz.de/10011960429
Cost-Benefit Analysis (CBA) is a widely applied economic appraisal t ool to support the planning and decision- making process for transport projects . However, in the planning literature CBA has been criticized for at least three reasons: 1) CBA focuses on traditional transport system related...
Persistent link: https://www.econbiz.de/10012026128
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We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the … access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the … long run the amount of liquid assets available to Italian firms. We argue that this reform, implemented in July 2007, will …
Persistent link: https://www.econbiz.de/10011377271
the policy reform on early retirement behaviour. We use a large administrative dataset, the Dutch Income Panel 1989 …-2000, to estimate hazard rate models for early retirement. We conclude that the policy reform induced workers to postpone early …
Persistent link: https://www.econbiz.de/10011348709
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