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Dynastic management
Caselli, Francesco; Gennaioli, Nicola - London School of Economics (LSE) - 2006
The most striking difference in corporate-governance arrangements between rich and poor countries is that the latter rely much more heavily on the dynastic family firm, where ownership and control are passed on from one generation to the other. We argue that if the heir to the family firm has no...
Persistent link: https://www.econbiz.de/10010928662
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Environmental policy and the economic downturn
Bowen, Alex; Stern, Nicholas - London School of Economics (LSE) - 2010
This paper considers how environmental policies should respond to macroeconomic downturns. It first explores the implications of the global economic downturn of 2008-09 for environmental policies, focusing in particular on the example of action against climate change. The arguments for and...
Persistent link: https://www.econbiz.de/10010744909
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Central banks and financial crises
Buiter, Willem H. - London School of Economics (LSE) - 2008
The paper draws lessons from the experience of the past year for the conduct of central banks in the pursuit of macroeconomic and financial stability. Macroeconomic stability is defined as either price stability or as price stability and sustainable output or employment growth. Financial...
Persistent link: https://www.econbiz.de/10010745389
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Publicity of debate and the incentive to dissent: evidence from the US federal reserve
Meade, Ellen E.; Stasavage, David - London School of Economics (LSE) - 2004
When central banks are transparent about their decision making, there may be clear benefits in terms of credibility, policy effectiveness, and improved democratic accountability. While recent literature has focused on all of these advantages of transparency, in this paper we consider one...
Persistent link: https://www.econbiz.de/10011071288
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Trade crisis? What trade crisis?
Behrens, Kristian; Mion, Giordano - London School of Economics (LSE) - 2010
We provide an analysis of the 2008-2009 trade collapse using microdata from a small open economy,Belgium. First, we …
Persistent link: https://www.econbiz.de/10010744902
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Does family control affect trade performance?: evidence for Italian firms
Navaretti, Giorgio Barba; Faini, Riccardo; Tucci, Alessandra - London School of Economics (LSE) - 2008
This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to...
Persistent link: https://www.econbiz.de/10010745788
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Political competition and the limits of political compromise
Cunha, Alexandre B.; Ornelas, Emanuel - London School of Economics (LSE) - 2014
We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents … debt, vigorous political competition can render a compromise unsustainable and drive the economy to a low-welfare, high …
Persistent link: https://www.econbiz.de/10011126506
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Monetary policy and welfare in a small open economy
De Paoli, Bianca - London School of Economics (LSE) - 2004
This paper characterizes welfare in a small open economy and derives the corresponding optimal monetary policy rule. It … shows that the utility-based loss function for a small open economy is a quadratic expression in domestic inflation, output … gap and real exchange rate. In contrast to previous works, this paper demonstrates that welfare in a small open economy …
Persistent link: https://www.econbiz.de/10010745516
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The Maastricht convergence criteria and optimal monetary policy for the EMU accession countries
Lipinska, Anna - London School of Economics (LSE) - 2007
a two-sector small open economy. First, I derive the micro founded loss function that represents the objective function …
Persistent link: https://www.econbiz.de/10010746639
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The British cycling economy: 'gross cycling product' report
Grous, Alexander - London School of Economics (LSE) - 2011
We believe this is the first-ever attempt to chart the full extent of cycling’s contribution to the British economy …
Persistent link: https://www.econbiz.de/10010746688