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Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics
Acemoglu, Daron - 2021
Do societies choose inefficient policies and institutions, in contrast to what would be suggested by a reasoning extending the Coase Theorem to politics? Do societies choose inefficient policies and institutions because of differences in the beliefs and ideologies of their peoples or leaders? Or...
Persistent link: https://www.econbiz.de/10013216095
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The Euro and Structural Reforms
Alesina, Alberto F. - 2010
, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the …
Persistent link: https://www.econbiz.de/10012758159
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What Have Two Decades of British Economic Reform Delivered?
Card, David; Freeman, Richard B. - 2021
Beginning in 1979 with the newly electted Thatcher Government and continuing under successive Conservative and Labour Governments, the United Kingdom has embarked on a two-decade-long experiment in economic reform. We present evidence that the reform process has succeeded in making the UK more...
Persistent link: https://www.econbiz.de/10013218893
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Democracy and Development : The Devil in the Details
Persson, Torsten; Tabellini, Guido - 2021
Does democracy promote economic development? We review recent attempts to address this question, which exploit the within-country variation associated with historical transitions in and out of democracy. The answer is positive, but depends %u2013 in a subtle way %u2013 on the details of...
Persistent link: https://www.econbiz.de/10013234089
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Deregulation, Consolidation, and Efficiency : Evidence from U.S. Nuclear Power
Davis, Lucas W. - 2011
markets. Deregulation has been accompanied by substantial market consolidation and today the three largest companies control … more than one-third of all U.S. nuclear capacity. We find that deregulation and consolidation are associated with a 10 … percent increase in operating efficiency, achieved primarily by reducing the frequency and duration of reactor outages. At …
Persistent link: https://www.econbiz.de/10013121046
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Transaction Cost Regulation
Spiller, Pablo T. - 2011
This paper discusses the fundamental underpinnings and some implications of transaction cost regulation (TCR), a framework to analyze the interaction between governments and investors fundamentally, but not exclusively, in utility industries. TCR sees regulation as the governance structure of...
Persistent link: https://www.econbiz.de/10013130971
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Marketplace Institutions Related to the Timing of Transactions
Roth, Alvin E. - 2010
inefficiencies, and that marketplace institutions play a role in restoring efficiency. I'll conclude with open questions about the …
Persistent link: https://www.econbiz.de/10013135760
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Numerical Solution of Dynamic Portfolio Optimization with Transaction Costs
Cai, Yongyang - 2013
We apply numerical dynamic programming to multi-asset dynamic portfolio optimization problems with proportional transaction costs. Examples include problems with one safe asset plus two to six risky stocks, and seven to 360 trading periods in a finite horizon problem. These examples show that it...
Persistent link: https://www.econbiz.de/10013088400
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Vertical Integration and Market Structure
Bresnahan, Timothy - 2014
Contractual theories of vertical integration derive firm boundaries as an efficient response to market transaction costs. These theories predict a relationship between underlying features of transactions and observed integration decisions. There has been some progress in testing these...
Persistent link: https://www.econbiz.de/10013066521
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Coasean Bargaining to Address Environmental Externalities
Libecap, Gary D. - 2016
I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I elaborate some of Coase's key points and discuss opportunities for Coasean exchange as an alternative mitigation approach. Regulation, tax, and Coasean exchange, such as through...
Persistent link: https://www.econbiz.de/10013000533