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Are optimistic expectations keeping the Chinese happy?

Frijters, Paul; Liu, Amy Y.C.; Meng, Xin - In: Journal of Economic Behavior & Organization 81 (2012) 1, pp. 159-171

In this paper we study the effect of optimistic income expectations on life satisfaction amongst the Chinese population … strong in the countryside and amongst rural-to-urban migrants. The importance of these expectations for life satisfaction is … particularly pronounced in the urban areas, though also highly significant for the rural area. If expectations were to reverse from …

Persistent link: https://www.econbiz.de/10010597452

Optimal Prudential Regulation of Banks and the Political Economy of Supervision

Tressel, Thierry; Verdier, Thierry - International Monetary Fund (IMF) - 2014

We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive risk taking. Because of a pecuniary externality, the market equilibrium may not be optimal and...

Persistent link: https://www.econbiz.de/10010790384

How to commit (if you must): Commitment contracts and the dual-self model

Peysakhovich, Alexander - In: Journal of Economic Behavior & Organization 101 (2014) C, pp. 100-112

This paper studies how dual-self (Fudenberg and Levine, 2006) decision-makers can use commitment technologies to combat temptation and implement long-run optimal actions. I consider three types of commitment technologies: carrot contracts (rewards for ‘good’ behavior financed by borrowing...

Persistent link: https://www.econbiz.de/10010942998

Do customers return excessive change in a restaurant?

Azar, Ofer H.; Yosef, Shira; Bar-Eli, Michael - In: Journal of Economic Behavior & Organization 93 (2013) C, pp. 219-226

The article reports the results of a field experiment used to study dishonest behavior in a natural setting. Customers in a restaurant in tables of one or two diners who paid with cash received excessive change of either 10 or 40 Shekels (about $3 or $12). A majority of customers (128 out of...

Persistent link: https://www.econbiz.de/10010702955

The Making of a Continental Financial System: Lessons for Europe from Early American History

Gaspar, Vitor - International Monetary Fund (IMF) - 2014

in default. During his tenure, U.S. Treasuries became the ultimate safe asset. He successfully managed expectations …

Persistent link: https://www.econbiz.de/10010959479

Interest-group size and legislative lobbying

Schneider, Maik T. - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 29-41

We develop a model of legislative decision making in which lobbying and public policy are jointly determined. We examine how policy outcomes depend on the sizes of the interest groups. While a larger size typically involves favorable effects on policy, we also identify threshold levels of...

Persistent link: https://www.econbiz.de/10010930947

Do Interest Groups Affect U.S. Immigration Policy?

Mishra, Prachi; Facchini, Giovanni; Mayda, Anna Maria - International Monetary Fund (IMF) - 2008

While anecdotal evidence suggests that interest groups play a key role in shaping immigration policy, there is no systematic empirical analysis of this issue. In this paper, we construct an industry-level dataset for the United States, by combining information on the number of temporary work...

Persistent link: https://www.econbiz.de/10005263794

Politics, Government Size, and Fiscal Adjustment in Industrial Countries

Annett, Anthony - International Monetary Fund (IMF) - 2002

It is now well established that political and institutional factors matter for fiscal outcomes. Following a review of the literature, this paper examines the relationship between a variety of political-institutional variables and fiscal aggregates-encompassing the overall balance as well as...

Persistent link: https://www.econbiz.de/10005599740

Financial Supervisory Independence and Accountability-Exploring the Determinants

Masciandaro, Donato; Quintyn, Marc; Taylor, Michael - International Monetary Fund (IMF) - 2008

We analyze recent trends in, and determinants of, financial supervisory governance. We first calculate levels of supervisory independence and accountability in 55 countries. The econometric analysis of the determinants indicates that the quality of public sector governance plays a decisive role...

Persistent link: https://www.econbiz.de/10010790276

Rules, Discretion, and Macro-Prudential Policy

Agur, Itai; Sharma, Sunil - International Monetary Fund (IMF) - 2013

The paper examines the implementation of macro-prudential policy. Given the coordination, flow of information, analysis, and communication required, macro-prudential frameworks will have weaknesses that make it hard to implement policy. And dealing with the political economy is also likely to be...

Persistent link: https://www.econbiz.de/10010790438