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Do Large Cabinets Favor Large Governments? Evidence from Swiss Sub-federal Jurisdictions

Feld, Lars P.; Schaltegger, Christoph A. - Volkswirtschaft Abteilung, Fachbereich … - 2004

The fiscal commons problem is one of the most prominent explanations of excessive spending and indebtedness in political economics. The more fragmented a government, the higher its spending, deficits and debt. In this paper we investigate to what extent this problem can be mitigated by different...

Persistent link: https://www.econbiz.de/10005209058

Comparing Public Attitudes Towards Providing for the Livelihood of the Elderly in Two aging Sodieties: Germany and Japan

Hayo, Bernd; Ono, Hiroyuki - Volkswirtschaft Abteilung, Fachbereich … - 2007

Germany and Japan. Applying an ordered logit model to individual data from representative public opinion surveys, it is … inclination towards a government-based pension system in the case of Japan but positively in Germany. Other significant influences … are the pensioner status of the respondents in Japan and their political position in the case of German data. …

Persistent link: https://www.econbiz.de/10005685638

Is European Monetary Policy Appropriate for the EMU Member Countries? A Counterfactual Analysis

Hayo, Bernd - Volkswirtschaft Abteilung, Fachbereich … - 2006

This paper analyses whether interest rate paths in the EMU member countries would have been different if the previous national central banks had not handed over monetary policy to the ECB. Using estimates of monetary policy reaction functions over the last 20 years before the formation of EMU,...

Persistent link: https://www.econbiz.de/10005685622

Comparing Monetary Policy Reaction Functions: ECB versus Bundesbank

Hayo, Bernd; Hofmann, Boris - Volkswirtschaft Abteilung, Fachbereich … - 2005

This paper compares the ECB’s conduct of monetary policy with that of the Bundesbank. Estimated monetary policy reaction functions for the Bundesbank (1979:4-1998:12) and the European Central Bank (1999:1-2004:5) show that, while the ECB and the Bundesbank react similarly to expected...

Persistent link: https://www.econbiz.de/10005685637