The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures …

interest expenses from their profits. In this case, the tax shifting results in an increase in the corporate risk premia, a …

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 …

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 …

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

analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach … in terms of identifying risks that are often overlooked before turining to the optimal risk-sharing between the public … and private partners, in particular with respect to information asymmetries in risk perceptions. This allows us to propose …

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