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Agency and Communication in IMF Conditional Lending : Theory and Empirical Evidence

Marchesi, Silvia - 2014

We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...

Persistent link: https://www.econbiz.de/10012750944

Should Easier Access to International Credit Replace Foreign Aid?

Bandyopadhyay, Subhayu - 2011

We examine the interaction between foreign aid and binding borrowing constraint for a recipient country. We also analyze how these two instruments affect economic growth via non-linear relationships. First of all, we develop a two-country, two-period trade-theoretic model to develop testable...

Persistent link: https://www.econbiz.de/10013119295

Repayment Versus Investment Conditions and Exclusivity in Lending Contracts

Bougheas, Spiros - 2010

Lenders condition future loans on some index of past performance. Typically, banks condition future loans on repayments of earlier obligations whilst international organizations (official lenders) condition future loans on the implementation of some policy action ('investment'). We build an...

Persistent link: https://www.econbiz.de/10013149943

Moody Choice

Manzini, Paola - 2011

If choices depend on the decision maker's mood, is the attempt to derive any consistency in choice doomed? In this paper we argue that, even with full unpredictability of mood, the way choices from a menu relate to choices from another menu exhibits some structure. We present two alternative...

Persistent link: https://www.econbiz.de/10013133371

Democratization and civil liberties : the role of violence during the transition

Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - 2011

This paper investigates the role of violent civil conflicts during the process of democratization for the quality of emerging democracies, and in particular, the protection of civil (political and economic) liberties. A simple theory in which different groups may engage in violent conflict in...

Persistent link: https://www.econbiz.de/10009124075

Asabiyya : Re-Interpreting Value Change in Globalized Societies

Heshmati, Almas; Tausch, Arno - 2009

. The World Values Survey provided a data framework of global value change, whose quantitative results led members of the … parcel of a larger set of traditional values. With the free available country-wide data from the World Values Survey, we re …/Welzel, 2003, 2003. A frequently asked question is whether “modernization” without “spiritual values” in a globalized world economy …

Persistent link: https://www.econbiz.de/10014203179

Temperature and Joint Time Use

Cosaert, Sam; Nieto, Adrián; Tatsiramos, Konstantinos - 2023

We combine exogenous variation in temperature at the county-day level in the U.S. with daily time use data to examine the effect of temperature on joint time use. We show that low temperatures reduce time spent with friends but increase time spent with family. Conversely, high temperatures...

Persistent link: https://www.econbiz.de/10014348455

Precious Metal Prices : A Tale of Four U.S. Recessions

Agnese, Pablo; Garcia-del-Barrio, Pedro; Gil-Alana, Luis A. - 2023

This paper empirically examines the degree of persistence in four precious metal prices (i.e., gold, palladium, platinum, and silver) during the last four U.S. recessions. Unit root tests and fractional integration techniques suggest that gold still is the most prominent safe haven asset within...

Persistent link: https://www.econbiz.de/10014351417

Minimum Global Tax : Winners and Losers in the Race for Mergers and Acquisitions

Amendolagine, Vito; Bruno, Randolph Luca; Cipollina, Maria - 2023

This study aims to quantify the impact of the global minimum corporate tax rate a pillar of the OECD's reform of international taxation on cross-border mergers and acquisitions (M&A) involving large multinational enterprises (MNEs). First, the influence of differences in capital taxation on...

Persistent link: https://www.econbiz.de/10014354666

Globalization, Productivity Growth, and Labor Compensation

Dreger, Christian; Fourné, Marius; Holtemöller, Oliver - 2023

We analyse how changes in international trade integration affect productivity and the functional income distribution. To account for endogeneity, we construct a leave-out measure for international trade integration for country-industry pairs using international input-output tables. First, we...

Persistent link: https://www.econbiz.de/10014355913

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