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Delegation of Authority as an Optimal (In)complete Contract

Roider, Andreas - 2004

The present paper aims to contribute to the literature on the foundations of incomplete contracts by providing conditions under which simple delegation of authority is the solution to the complete-contracting problem of the parties. We consider a hold-up framework where both parties profit from...

Persistent link: https://www.econbiz.de/10010262045

Contracting with Private Information

Hagedorn, Marcus - 2003

This paper adds to the current literature on incomplete contracting that argues that deviating from a complete information, transaction-cost free environment may be may generate valuable insights. We achieve this by assuming bargaining with asymmetric information. We consider the consequences of...

Persistent link: https://www.econbiz.de/10010262108

Security of property as a public good: Institutions, socio-political environment and experimental behavior in five countries

Campos-Ortiz, Francisco; Putterman, Louis G.; Ahn, T. K.; … - 2012

We study experimentally the protection of property in five widely distinct countries - Austria, Mexico, Mongolia, South …

Persistent link: https://www.econbiz.de/10010289958

Maximum likelihood estimation and lagrange multiplier tests for panel seemingly unrelated regressions with spatial lag and spatial errors: An application to hedonic housing prices...

Baltagi, Badi H.; Bresson, Georges - 2010

This paper proposes maximum likelihood estimators for panel seemingly unrelated regressions with both spatial lag and spatial error components. We study the general case where spatial effects are incorporated via spatial errors terms and via a spatial lag dependent variable and where the...

Persistent link: https://www.econbiz.de/10010274576

Immigration and housing booms: evidence from Spain

González Luna, Libertad; Ortega, Francesc - 2009

We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across...

Persistent link: https://www.econbiz.de/10010269418

Change in the distribution of house prices across Spanish cities

Nicodemo, Catia; Raya, Josep M. - 2012

This paper presents the quantile estimation of house price between two years, 2004 and 2007 (a boom house price period) in several Spanish cities. We decompose the change in house price distribution into portions: changes in the distributions of the explanatory variables and changes in...

Persistent link: https://www.econbiz.de/10010282564

Immigration and housing rents in American cities

Saiz, Albert - 2006

Is there a local economic impact of immigration? Immigration pushes up rents and housing values in US destination cities. The positive association of rent growth and immigrant inflows is pervasive in time series for all metropolitan areas. I use instrumental variables based on a shift-share of...

Persistent link: https://www.econbiz.de/10010267724

The 'Soda Tax' is Unlikely to Make Mexicans Lighter: New Evidence on Biases in Elasticities of Demand for Soda

Andalón, Mabel; Gibson, John - 2017

Mexico's 'soda tax' has been predicted to reduce average weights by two to four pounds, based on extant estimates of an … own-price elasticity of quantity demand for soda of between −1.0 and −1.3. These estimates ignore consumer responses on … prices to estimate unrestricted demand models that correct for both errors. The corrected own-price elasticity of quantity …

Persistent link: https://www.econbiz.de/10011653493

Enlisting Employees in Improving Payroll-Tax Compliance: Evidence from Mexico

Kumler, Todd J.; Verhoogen, Eric; Frias, Judith A. - 2013

investigation. We then compare two independent sources of individual-level wage information from Mexico - firms' wage reports to the …

Persistent link: https://www.econbiz.de/10010329189

The Effects of Enforcement on Illegal Markets: Evidence from Migrant Smuggling along the Southwestern Border

Gathmann, Christina - 2004

drugs, the demand for border smugglers is however price elastic. We also show that illegal migrants have switched from …

Persistent link: https://www.econbiz.de/10010261774

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