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Skill Acquisition and Firm Creation in Transition Economies

Li, Wenli - 1999

The transition from plan to market has hinged on the development of a dynamic private sector that would serve as the engine of growth and employment creation. This paper examines the link between the availability of skilled workers and the creation of new private firms. Using a dynamic search...

Persistent link: https://www.econbiz.de/10014400529

The state and your hard-earned money : a survey on moral perspectives in public finance

Mauro, Paolo - 2021

This note provides an overview of recent studies that have begun to investigate how differing moral perspectives shape attitudes toward tax and spending policies. Recent advances in evolutionary moral psychology and their application to survey-based economic analysis yield promising insights....

Persistent link: https://www.econbiz.de/10012795085

Credibility dynamics and disinflation plans

Kostadinov, Rumen; Roldán, Francisco - 2020

We study the optimal design of a disinflation plan by a planner who lacks commitment. Having announced a plan, the Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief that the Central bank is committed to the plan. Some plans...

Persistent link: https://www.econbiz.de/10012251953

A Political Agency Theory of Central Bank Independence

Eggertsson, Gauti B. - 2003

We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks … to an independent agency. We apply this theory to monetary policy by extending a standard dynamic ""New …-Keynesian"" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the …

Persistent link: https://www.econbiz.de/10014400234

Dynamic Incentives and the Optimal Delegation of Political Power

Le Borgne, Eric - 2007

This paper proposes a theory to explain why a politician delegates policy tasks to a technocrat in an independent … opinion. One natural application of the theory is in the field of monetary policy where the model provides a new theory of …

Persistent link: https://www.econbiz.de/10014400341

A Principal-Agent Theory Approach to Public Expenditure Management Systems in Developing Countries

Leruth, Luc E. - 2006

countries using an analytical framework based on principal-agent theory. This simple model can be applied to various PEM systems …

Persistent link: https://www.econbiz.de/10014402932

Towards a Principal-Agent Based Typology of Risks in Public-Private Partnerships

De Palma, André - 2009

analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach …

Persistent link: https://www.econbiz.de/10014403060

IMF Conditionality and Country Ownership of Programs

Khan, Mohsin S. - 2001

The paper uses finance and agency theory to establish two main propositions: First, that the conditionality attached to …

Persistent link: https://www.econbiz.de/10014403611

The Impact of Corporate Governance Structureson the Agency Cost of Debt

Chan-Lau, Jorge A. - 2001

This paper uses a stochastic continuous time model of the firm to study how different corporate governance structures affect the agency cost of debt. In the absence of asymmetric information, it shows that control of the firm by debtholders with a minority stake delays the exit decision and...

Persistent link: https://www.econbiz.de/10014401371

Investor information and bank instability during the European debt crisis

Iorgova, Silvia; Ross, Chase P. - 2021

Persistent link: https://www.econbiz.de/10012487211

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