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An Institutional Theory of Public Contracts : Regulatory Implications
Spiller, Pablo T. - 2008
are perceived to be less "efficient." In this paper I develop a theory of public contracting that accommodates these stark …
Persistent link: https://www.econbiz.de/10012464415
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Breach, Remedies and Dispute Settlement in Trade Agreements
Maggi, Giovanni - 2009
We provide a simple but novel model of trade agreements that highlights the role of transaction costs, renegotiation and dispute settlement. The model allows us to characterize the appropriate remedy for breach and whether the agreement should be structured as a system of "property rights" or...
Persistent link: https://www.econbiz.de/10012463189
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Anticipations of Foreign Exchange Volatility and Bid-Ask Spreads
Wei, Shang-Jin - 1994
The paper studies the effect of the market's perceived exchange rate volatility on bid-ask spreads. The anticipated volatility is extracted from currency options data. An increase in the perceived volatility is found to widen bid-ask spreads. The direction of the effect is consistent with an...
Persistent link: https://www.econbiz.de/10012474188
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Addressing Global Environmental Externalities : Transaction Costs Considerations
Libecap, Gary D. - 2013
Is there a way to understand why some global environmental externalities are addressed effectively whereas others are not? The transaction costs of defining the property rights to mitigation benefits and costs is a useful framework for such analysis. This approach views international cooperation...
Persistent link: https://www.econbiz.de/10012459162
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The Political Resource Curse
Brollo, Fernanda - 2010
politicians, both with theory and data. The theory is based on a version of the career concerns model of political agency with … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … features of political candidates at the municipal level. In accordance with the predictions of the theory, we find that larger …
Persistent link: https://www.econbiz.de/10012462947
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The Determinants of the Choice between Fixed and Flexible Exchange-Rate Regimes
Edwards, Sebastian - 1996
In recent years, analysts and policy makers alike have been evaluating the nexus between exchange rates and macroeconomic stability. Among the most important questions is why have some countries adopted rigid, including fixed, exchange-rate paper addresses this question from a political economy...
Persistent link: https://www.econbiz.de/10012473078
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Political Instability, Political Weakness and Inflation : An Empirical Analysis
Edwards, Sebastian - 1991
In this paper we analyze empirically the most important implications of two family political economy models of inflation: the "myopic? government approach and the "weak" government approach. In myopic government models inflation is the deliberate outcome of politicians strategic behavior, while...
Persistent link: https://www.econbiz.de/10012475286
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The Political Economy of Weak Treaties
Battaglini, Marco - 2016
puzzle in standard economic models. To study this phenomenon, we propose a positive theory of IEAs in which the political … (might not be implemented in full). The theory also provides a new perspective for understanding investments in green …
Persistent link: https://www.econbiz.de/10012455712
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On a World Climate Assembly and the Social Cost of Carbon
Weitzman, Martin - 2016
This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a single worldwide price on carbon emissions via the basic democratic principle of one-person one-vote majority rule. If this WCA framework can be accepted in the first place,...
Persistent link: https://www.econbiz.de/10012455867
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The Supply of Environmentalism
Glaeser, Edward L. - 2013
Long before economics turned to psychology, environmentalists were nudging and framing and pushing their cause like highly gifted amateur psychologists. Their interventions seem to have changed behavior by altering beliefs, norms and preferences, but because psychological interventions are often...
Persistent link: https://www.econbiz.de/10012459303