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Diermeier, Daniel - 2013

It is often argued that additional checks and balances provide economic agents with better protection from expropriation of their wealth or productive capital. We demonstrate that in a dynamic political economy model this intuition may be flawed. Surprisingly, increasing the number of veto...

Persistent link: https://www.econbiz.de/10013071791

Property Rights to Frontier Land and Minerals : Us Exceptionalism

Libecap, Gary D. - 2018

Property rights are the most fundamental institution in any society. They determine who has decision-making authority over assets and who bears the costs and benefits of those decisions. They assign ownership, wealth, political influence, and social standing. They make markets possible; define...

Persistent link: https://www.econbiz.de/10012920373

Securing Property Rights

Glaeser, Edward L. - 2016

A central challenge in securing property rights is the subversion of justice through legal skill, bribery, or physical force by the strong—the state or its powerful citizens—against the weak. We present evidence that undue influence on courts is a common concern in many countries, especially...

Persistent link: https://www.econbiz.de/10012982019

Idea Diffusion and Property Rights

Jovanovic, Boyan; Wang, Zhu - 2022

We study the innovation and diffusion of technology at the industry level. We derive the full dynamic paths of an industry's evolution, from birth to its maturity, and we characterize the impact of diffusion on the incentive to innovate. The model implies that protection of innovators should be...

Persistent link: https://www.econbiz.de/10014091108

Measuring Property Rights Institutions

Djankov, Simeon; Glaeser, Edward L.; Perotti, Valeria; … - 2022

How do the different elements in the standard bundle of property rights – such as the right of possession or the right of transfer – differentially impact outcomes, such as urban development? This paper incorporates insecure property rights into a standard model of urban land prices and...

Persistent link: https://www.econbiz.de/10013404197

Producers and Predators

Grossman, Herschel I. - 2021

This paper explores a series of general-equilibrium models in which people can choose to be either producers or predators, and in which producers can allocate their resources either to production or to guarding their production against predators. The analysis shows how the ratio of predators to...

Persistent link: https://www.econbiz.de/10013235281

The Creation of Effective Property Rights

Grossman, Herschel I. - 2021

with analysing the allocation of resources among productive uses and the distribution of the resulting product. But, this … effective property rights that inform allocation and distribution are themselves an alternative use of scarce resources ….This paper develops two canonical general-equilibrium models of resource allocation and income distribution that allow for the …

Persistent link: https://www.econbiz.de/10013249352

Tax Shelters or Efficient Tax Planning? a Theory of the Firm Perspective on the Economic Substance Doctrine

Borek, T. Christopher - 2013

Courts have articulated a number of legal tests to distinguish corporate transactions that have a legitimate business or economic purpose from those carried out largely, if not solely, for favorable tax treatment. We outline an approach to analyzing the economic substance of corporate...

Persistent link: https://www.econbiz.de/10013081258

When Knowledge is an Asset : Explaining the Organizational Structure of Large Law Firms

Rebitzer, James B. - 2007

We study the economics of employment relationships through theoretical and empirical analysis of an unusual set of firms, large law firms. Our point of departure is the quot;property rightsquot; approach that emphasizes the centrality of ownership's legal rights to control important, non-human...

Persistent link: https://www.econbiz.de/10012778263

Economic Growth and Decline with Endogenous Property Rights

Tornell, Aaron - 2002

This paper introduces endogenous property rights into a neoclassical growth model. 1t identifies a mechanism that generates growth rates which are increasing at low levels of capital. and decreasing at high levels of capital. The driving force behind changes in property rights is the attempt of...

Persistent link: https://www.econbiz.de/10012787491

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