Similar Search Results

The U.S. Constitution and Monetary Powers: An Analysis of the 1787 Constitutional Convention and Constitutional Transformation of the Nation's Monetary System Emerged

Grubb, Farley - National Bureau of Economic Research (NBER) - 2005

The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the nation's monetary structure. They included determining what monies could be legal tender, who could emit fiat paper money, and who could incorporate banks. How the debate at the...

Persistent link: https://www.econbiz.de/10005087446

The Origins of State Capacity: Property Rights, Taxation, and Politics

Besley, Timothy; Persson, Torsten - National Bureau of Economic Research (NBER) - 2007

Economists generally assume the existence of sufficient institutions to sustain a market economy and tax the citizens. However, this starting point cannot easily be taken for granted in many states, neither in history nor in the developing world of today. This paper develops a framework where...

Persistent link: https://www.econbiz.de/10005829304

Lost Decades: Lessons from Post-Independence Latin America for Today's Africa

Williamson, Jeffrey Gale; Bates, Robert H.; Coatsworth, … - National Bureau of Economic Research (NBER) - 2006

Africa and Latin America secured their independence from European colonial rule a century and half apart: most of Latin … America after 1820 and most of Africa after 1960. Despite the distance in time and space, they share important similarities … about a half-century (lost decades). The parallels suggest that Africa might be exiting from a period of post …

Persistent link: https://www.econbiz.de/10005718756

The Prospects for Sustained Growth in Africa: Benchmarking the Constraints

Johnson, Simon; Ostry, Jonathan David; Subramanian, Arvind - National Bureau of Economic Research (NBER) - 2007

sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems -- broad … institutions, macroeconomic stability, trade openness, education, and inequality -- may not nowbe binding constraints in Africa … Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of "escape from underdevelopment …

Persistent link: https://www.econbiz.de/10005718867

Institutions and Behavior: Experimental Evidence on the Effects of Democracy

Dal Bó, Pedro; Putterman, Louis; Foster, Andrew - National Bureau of Economic Research (NBER) - 2008

A novel experiment is used to show that the effect of a policy on the level of cooperation is greater when it is chosen democratically by the subjects than when it is exogenously imposed. In contrast to the previous literature, our experimental design allows us to control for selection effects...

Persistent link: https://www.econbiz.de/10005830529

Smart Machines and Long-Term Misery

Kotlikoff, Laurence; Sachs, Jeffrey D. - National Bureau of Economic Research (NBER) - 2012

Are smarter machines our children's friends? Or can they bring about a transfer from our relatively unskilled children to ourselves that leaves our children and, indeed, all our descendants - worse off? This, indeed, is the dire message of the model presented here in which smart machines...

Persistent link: https://www.econbiz.de/10010951178

The Euro and Structural Reforms

Alesina, Alberto; Ardagna, Silvia; Galasso, Vincenzo - National Bureau of Economic Research (NBER) - 2008

This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of...

Persistent link: https://www.econbiz.de/10005248810

Fiduciary Duties and Equity-Debtholder Conflicts

Becker, Bo; Stromberg, Per - National Bureau of Economic Research (NBER) - 2011

We use an important legal event as a natural experiment to examine the effect of management fiduciary duties on equity-debt conflicts. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors' fiduciary duties in firms incorporated in that state. This change limited managers'...

Persistent link: https://www.econbiz.de/10009652869

A Fiscal Union for the Euro: Some Lessons from History

Bordo, Michael David; Markiewicz, Agnieszka; Jonung, Lars - National Bureau of Economic Research (NBER) - 2011

The recent financial crisis 2007-2009 was the longest and the deepest recession since the Great Depression of 1930. The crisis that originated in subprime mortgage markets was spread and amplified through globalised financial markets and resulted in severe debt crises in several European...

Persistent link: https://www.econbiz.de/10009278243

Trust in Public Finance

Slemrod, Joel - National Bureau of Economic Research (NBER) - 2002

Using data on trust and trustworthiness from the 1990 wave of the World Values Survey, I first investigate a model of the extent of tax cheating and the size of government that recognizes the interdependence of the two. The results reveal that tax cheating is lower in countries that exhibit more...

Persistent link: https://www.econbiz.de/10005714602

1
2
3
4
5
6
7
8
9
10
Next
Last