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Incentives in Markets, Firms and Governments

Acemoglu, Daron - 2003

Most government expenditure is on goods that yield primarily private benefits, such as education, pensions, and healthcare. We argue that markets are most advantageous in areas where high-powered incentives are desirable, but in areas where high-powered incentives stimulate unproductive...

Persistent link: https://www.econbiz.de/10012468896

Tradable Deficit Permits : Efficient Implementation of the Stability Pacin the European Monetary Union

Casella, Alessandra - 1999

Borrowing from the experience of environmental markets, this paper proposes a system of tradable deficit permits as an efficient mechanism for implementing fiscal constraints in the European Monetary Union: having chosen an aggregate target for the Union and an initial distribution of permits,...

Persistent link: https://www.econbiz.de/10012471505

Redistribution Policy : A European Model

Casella, Alessandra - 2002

Following the rationale for regional redistribution programs described in the official documents of the European Union, this paper studies a very simple multi-country model built around two regions: a core and a periphery. Technological spill-overs link firms' productivity in each of the two...

Persistent link: https://www.econbiz.de/10012469451

Storable Votes

Casella, Alessandra - 2002

Motivated by the need for more flexible decision-making mechanisms in the European Union, the paper proposes a simple but novel voting scheme for binary decisions taken by committees that meet regularly over time. At each meeting, committee members are allowed to store their vote for future use;...

Persistent link: https://www.econbiz.de/10012469521

Market Mechanisms for Policy Decisions : Tools for the European Union

Casella, Alessandra - 2000

. Economists have developed a large number of plausible market mechanisms for the efficient provision of public goods, and the …

Persistent link: https://www.econbiz.de/10012470703

Large Countries, Small Countries, and the Enlargement of Trade Blocs

Casella, Alessandra - 1995

diminishes the importance of the domestic market and improves the small countries' relative competitiveness. The theoretical … European Community yields mixed results. France and the U.K. appear to have lost market shares relative to the small countries …

Persistent link: https://www.econbiz.de/10012473504

Participation in a Currency Union

Casella, Alessandra - 1990

When countries of different sizes participate in a cooperative agreement, the potential gain from deviation determines the minimum power that each country requires in the common decision-making. <br><bR>This paper studies the problem in the context of a monetary union - multiple countries sharing a...

Persistent link: https://www.econbiz.de/10012475817

Management of a Common Currency

Casella, Alessandra - 1988

This paper presents a simple general equilibrium model of two countries using a common currency. The goal is to study how the monetary arrangement influences the optimum financing of a public good. If the two countries are allowed to print the common currency autonomously, they will finance...

Persistent link: https://www.econbiz.de/10012476320

Credit Market Imperfections and Persistent Unemployment

Acemoglu, Daron - 2000

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … industries is lower than in the U.S.. This suggests that although credit market imperfections are unlikely to have been the major …

Persistent link: https://www.econbiz.de/10012470798

Patterns of Skill Premia

Acemoglu, Daron - 1999

In this paper, I develop a model to analyze how skill premia differ over time and across countries, and use this model to study the impact of international trade on wage inequality. Skill premia are determined by technology and the relative supply of skills. An increase in the relative supply of...

Persistent link: https://www.econbiz.de/10012471782