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Contracting for Government Services : Theory and Evidence from U.S. Cities
Levin, Jonathan - 2010
Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this quot;make-or-buyquot; choice that highlights the trade-off between productive efficiency and the costs of contract administration. We construct a...
Persistent link: https://www.econbiz.de/10012759893
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The Economics of Cultural Transmission and Socialization
Bisin, Alberto - 2010
Cultural transmission arguably plays an important role in the determination of many fundamental preference traits (e.g., discounting, risk aversion and altruism) and most cultural traits, social norms, and ideological tenets ( e.g., attitudes towards family and fertility practices, and attitudes...
Persistent link: https://www.econbiz.de/10013136354
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The Life Cycles of Modern Artists : Theory, Measurement, and Implications
Galenson, David W. - 2021
There have been two very different life cycles for important modern artists: some, including Picasso, have made their greatest contributions early in their careers, whereas others, like C‚zanne, have produced their best work late in their lives. Art's young geniuses have worked deductively to...
Persistent link: https://www.econbiz.de/10013218301
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Multiple Equilibria in Open Economy Models with Collateral Constraints : Overborrowing Revisited
Schmitt-Grohé, Stephanie - 2016
This paper establishes the existence of multiple equilibria in infinite-horizon open- economy models in which the value of tradable and nontradable endowments serves as collateral. In this environment, the economy displays self-fulfilling financial crises in which pessimistic views about the...
Persistent link: https://www.econbiz.de/10012990790
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When are Anonymous Congestion Charges Consistent with Marginal Cost Pricing?
Arnott, Richard J.; Kraus, Marvin - 2021
these constraints undermine the feasibility of marginal cost pricing, and hence the applicability of the first-best theory …
Persistent link: https://www.econbiz.de/10013225057
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Ownership and Use Taxes as Congestion Correcting Instruments
Chia, Ngee-Choon; Tsui, Albert K.C; Whalley, John - 2021
In countries, such as Singapore, that have implemented vehicle congestion policies, recent years have seen a shift towards motor vehicle taxes based on car use. Ownership taxes reduce the number of cars on the road, leaving the price per trip largely unaffected. Use taxes such as fuel taxes and...
Persistent link: https://www.econbiz.de/10013247191
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Educational Production
Lazear, Edward P. - 2021
their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …
Persistent link: https://www.econbiz.de/10013249228
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Toll Competition Among Congested Roads
Engel, Eduardo M. R. A.; Galetovic, Alexander; Fischer, … - 2021
A growing number of roads are currently financed by the private sector via Build-Operate-and -Transfer (BOT) schemes. When the franchised road has no close substitute, the government must regulate tolls. Yet when there are many ways of getting from one point to another, regulation may be avoided...
Persistent link: https://www.econbiz.de/10013245129
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Safe Asset Scarcity and Aggregate Demand
Caballero, Ricardo J. - 2016
We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a “safety trap” recession. In the open economy, safe asset scarcity spreads from one country to the other via capital...
Persistent link: https://www.econbiz.de/10012997884
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Migration, Congestion Externalities, and the Evaluation of Spatial Investments
Dinkelman, Taryn - 2015
The direct benefits of infrastructure in developing countries can be large, but if new infrastructure induces in-migration, congestion of other local publicly provided goods may offset the direct benefits. Using the example of rural household electrification in South Africa, we demonstrate the...
Persistent link: https://www.econbiz.de/10013030141