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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 …-lasting impact. In the first period a simple open majority voting scheme takes place. Voting splits the committee into three groups …: voting winners, voting losers, and absentees. Under minority voting only voting losers keep the voting right in the second …

Persistent link: https://www.econbiz.de/10011753134

Tax Contracts and Elections

Gersbach, Hans; Schneider, Maik T. - 2009

In this paper we examine the impact of tax contracts as a novel institution on elections, policies, and welfare. We consider a political game in which three parties compete to form the government. Parties have policy preferences about the level of public-good provision and benefit from perks...

Persistent link: https://www.econbiz.de/10011753187

Rules vs. Targets: Climate Treaties under Uncertainty

Gersbach, Hans; Oberpriller, Quirin - 2012

We demonstrate the advantages of a climate treaty based solely on rules for international permit markets when there is uncertainty about abatement costs and environmental damages. Such a ‘Rules Treaty’ comprises a scaling factor and a refunding rule. Each signatory can freely choose the...

Persistent link: https://www.econbiz.de/10011753223

A Reform Dilemma in Polarized Democracies

Gersbach, Hans; Tejada, Oriol - 2016

We study the feasibility and efficiency of policy reforms in polarized democracies. We develop a simple election model where (i) reforms are costly for voters and politicians and these costs increase with the extent of policy change, and (ii) politicians differ in their ability to carry out...

Persistent link: https://www.econbiz.de/10011753319

Co-voting Democracy

Gersbach, Hans - 2016

We outline a new voting procedure for representative democracies. This procedure should be used for important decisions … only and consists of two voting rounds: a randomly-selected subset of the citizens is awarded a one-time voting right. The …

Persistent link: https://www.econbiz.de/10011753320

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

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

Forward Guidance for Monetary Policy: Is It Desirable?

Gersbach, Hans; Hahn, Volker - 2008

In this paper we assess whether forward guidance for monetary policy regarding the future path of interest rates is desirable. We distinguish between two cases where forward guidance for monetary policy may be helpful. First, forward guidance may reveal private information of the central bank....

Persistent link: https://www.econbiz.de/10011753148

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

Vote-Buying and Growth

Gersbach, Hans; Mühe, Felix - 2008

rotating agenda setting, a taxpayer-protection rule and repeated voting. The latter rule makes vote buying prohibitively costly. …

Persistent link: https://www.econbiz.de/10011753158