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Political Selection and Persistence of Bad Governments

Acemoglu, Daron - 2010

We study dynamic selection of governments under different political institutions, with a special focus on institutional "flexibility". A government consists of a subset of the individuals in the society. The competence level of the government in office determines collective utilities (e.g., by...

Persistent link: https://www.econbiz.de/10013151384

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James Alan - 2014

, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …

Persistent link: https://www.econbiz.de/10013039764

Fiscal Policies, Capital Formation, and Capitalism

Feldstein, Martin S. - 2011

may weaken capitalism itself. In the US a decade of slow growth has increased protectionist tendencies in international … private capitalism to government-dominated economy more likely …

Persistent link: https://www.econbiz.de/10013118689

Can't We All Be More Like Scandinavians? Asymmetric Growth and Institutions in an Interdependent World

Acemoglu, Daron; Robinson, James Alan; Verdier, Thierry - 2012

"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others … will free- ride on the cutthroat incentives of the leaders and choose a more "cuddly" form of capitalism. Paradoxically … equilibrium, it is not a best response for the cutthroat capitalists to switch to a more cuddly form of capitalism. We also show …

Persistent link: https://www.econbiz.de/10013099537

The Emergence of Weak, Despotic and Inclusive States

Acemoglu, Daron - 2017

Societies under similar geographic and economic conditions and subject to similar external influences nonetheless develop very different types of states. At one extreme are weak states with little capacity and ability to regulate economic or social relations. At the other are despotic states...

Persistent link: https://www.econbiz.de/10012950052

The 2006 Economic Report of the President : Comment on Chapter One (the Year in Review) and Chapter Six (the Capital Account Surplus)

Feldstein, Martin S. - 2021

This paper is an analytic comment on two chapters of the Economic Report of the President for 2006. Chapter One deals with the economy in 2005 and the outlook for the future. The chapter provides a detailed analysis of the expansion in 2005 but not an explanation of why the expansion occurred...

Persistent link: https://www.econbiz.de/10013235896

The Euro and European Economic Conditions

Feldstein, Martin S. - 2011

The creation of the euro should now be recognized as an experiment that has led to the sovereign debt crisis in several countries, the fragile condition of major European banks, the high levels of unemployment, and the large trade deficits that now exist in most Eurozone countries. Although the...

Persistent link: https://www.econbiz.de/10013118129

When Does Policy Reform Work? the Case of Central Bank Independence

Acemoglu, Daron; Johnson, Simon; Querubín Borrero, Pablo; … - 2008

We argue that the question of whether and when policy reform works should be investigated together with the political economy factors responsible for distortionary policies in the first place. These not only determine the initial distortions, but also often shape policy in the post-reform...

Persistent link: https://www.econbiz.de/10012771805

Emergence and Persistence of Inefficient States

Acemoglu, Daron - 2006

Inefficiencies in the bureaucratic organization of the state are often viewed as important factors in retarding economic development. Why certain societies choose or end up with such inefficient organizations has received very little attention, however. In this paper, we present a simple theory...

Persistent link: https://www.econbiz.de/10012778981

Political Economy in a Changing World

Acemoglu, Daron - 2013

We provide a general framework for the analysis of the dynamics of institutional change (e.g., democratization, extension of political rights or repression of different groups), and how these dynamics interact with (anticipated and unanticipated) changes in the distribution of political power...

Persistent link: https://www.econbiz.de/10013080197