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This paper presents a new framework for analyzing inequality that moves beyond the anonymity postulate. We estimate the determinants of sectoral choice and the joint distributions of outcomes across sectors. We determine which components of realized earnings variability are due to uncertainty...
Persistent link: https://www.econbiz.de/10012760644
The Great Migration from the US South is a prominent theme in economic history research not only because it was a prime example of large scale internal migration, but also because it had far-reaching ramifications for American economic, social, and political change. This article offers a concise...
Persistent link: https://www.econbiz.de/10014096644
What are the incentives faced by local officials in China? Without democratic institutions, there is no mechanism for … successes and the problems arising from local government activity in China …
Persistent link: https://www.econbiz.de/10013131309
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
Standard models of hierarchy assume that agents and middle managers are better informed than principals about how to implement a particular task. We estimate the value of the informational advantage held by supervisors – middle managers – when ministerial leadership – the principal –...
Persistent link: https://www.econbiz.de/10012913385
decrease child mortality in sub-Saharan Africa. There is, however, widespread concern that poor governance and in particular …
Persistent link: https://www.econbiz.de/10013019515
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
interest payments after the call date. We find that municipalities in states with poor governance generally destroy the most …
Persistent link: https://www.econbiz.de/10013075855
This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that...
Persistent link: https://www.econbiz.de/10013146270
A fundamental problem for economic development is that most poor countries have 'weak state' which are incapable or unwilling to provide basic public goods such as law enforcement, order, education and infrastructure. In Africa this is often attributed to the persistence of 'indirect rule' from...
Persistent link: https://www.econbiz.de/10013054513