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The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the …
Persistent link: https://www.econbiz.de/10013240577
Anecdotal evidence often points to aging as a cause for reduced work performance. This paper provides empirical evidence on this issue in a context where performance is measurable and there is variation in mandatory retirement policies: U.S. state supreme courts. We find that introducing...
Persistent link: https://www.econbiz.de/10014091105
During the 1840s, twelve American states adopted new constitutions. Eleven of the twelve states adopted new procedures for issuing government debt and for chartering corporations through general incorporation acts. These institutional innovations were American inventions, and today hard budget...
Persistent link: https://www.econbiz.de/10013218542
Hayek (1960) distinguishes the institutions of English freedom, which guarantee the independence of judges from political interference in the administration of justice, from those of American freedom, which allow judges to restrain law-making powers of the sovereign through constitutional...
Persistent link: https://www.econbiz.de/10013224310
electoral rules and forms of government for fiscal policy and rent extraction, even when non-random constitution selection is …
Persistent link: https://www.econbiz.de/10013233041
In this essay I review the new book by Torsten Persson and Guido Tabellini, The Economic Effects of Constitutions, which investigates the policy and economic consequences of different forms of government and electoral rules. I also take advantage of this opportunity to discuss the advantages and...
Persistent link: https://www.econbiz.de/10013212917
A self-enforcing constitution creates a political process that provides an alternative to civil conflict for resolving … possible to design such a self-enforcing constitution. The paper is also concerned with discovering generic features of a self …-enforcing constitution. The analysis yields the following theoretical propositions: If and only if (1) none of the parties to a dispute …
Persistent link: https://www.econbiz.de/10013228226
This paper examines the impact of jury racial composition on trial outcomes using a unique data set of felony trials in Florida between 2000 and 2010. We utilize a research design that exploits day-to-day variation in the composition of the jury pool to isolate quasi-random variation in the...
Persistent link: https://www.econbiz.de/10013138088
The literature on congressional committees has largely overlooked the impact of jurisdictional fights on policy proposals and outcomes. This paper develops a theory of how legislators balance the benefits of expanded committee jurisdiction against preferred policy outcomes. It shows why a)...
Persistent link: https://www.econbiz.de/10013123305
We develop a model where products liability trials provide information to consumers who are not parties to the litigation. Consumers use this information to take precautions against dangerous products. A critical assumption is that consumers cannot differentiate between firms that have never...
Persistent link: https://www.econbiz.de/10013125177