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Back, Kerry - 2013

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm … governance. Empirical tests using three distinct sources of exogenous variation in liquidity confirm the negative relation …

Persistent link: https://www.econbiz.de/10013072575

Sharing a Government

Ventura, Jaume - 2019

This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a large number of projects that produce local benefits for the region that...

Persistent link: https://www.econbiz.de/10012864805

Federalism's Values and the Value of Federalism

Inman, Robert P. - 2010

What is it about federal governance that makes it so attractive to economists, political philosophers, and legal … definition of federal governance and classifies a sample of 73 countries as either a constitutionally-based federal democracy, an … administratively-based federal democracy, a unitary democracy, a federal dictatorship, or a unitary dictatorship. Governance is then …

Persistent link: https://www.econbiz.de/10012759607

The Indigenous Roots of Representative Democracy

Bentzen, Jeanet Sinding; Hariri, Jacob Gerner; … - 2015

We document that rules for leadership succession in ethnic societies that antedate the modern state predict contemporary political regimes; leadership selection by election in indigenous societies is associated with contemporary representative democracy. The basic association, however, is...

Persistent link: https://www.econbiz.de/10013022172

Why Some Times are Different : Macroeconomic Policy and the Aftermath of Financial Crises

Romer, Christina D. - 2017

Analysis based on a new measure of financial distress for 24 advanced economies in the postwar period shows substantial variation in the aftermath of financial crises. This paper examines the role that macroeconomic policy plays in explaining this variation. We find that the degree of monetary...

Persistent link: https://www.econbiz.de/10012945611

Misallocation, Establishment Size, and Productivity

Bento, Pedro - 2016

We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...

Persistent link: https://www.econbiz.de/10012979762

International Coordination of Economic Policies : Scope, Methods, and Effects

Frenkel, Jacob A.; Goldstein, Morris; Masson, Paul R. - 2021

actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule …

Persistent link: https://www.econbiz.de/10013232745

Economic Convergence and Economic Policies

Sachs, Jeffrey D.; Warner, Andrew M. - 2021

Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards? Some recent research on endogenous growth has...

Persistent link: https://www.econbiz.de/10013234056

Political Instability, Political Weakness and Inflation : An Empirical Analysis

Edwards, Sebastian; Tabellini, Guido - 2021

In this paper we analyze empirically the most important implications of two family political economy models of inflation: the "myopic? government approach and the "weak" government approach. In myopic government models inflation is the deliberate outcome of politicians strategic behavior, while...

Persistent link: https://www.econbiz.de/10013244087

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

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