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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/10012466888
We propose a framework to explain why some societies may end up with different constitutional solutions to the problem of maintaining order in the face of self-interested behavior. Though the salient intellectual tradition since Hobbes has focused on how institutional design is used to eradicate...
Persistent link: https://www.econbiz.de/10014322888
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/10012467450
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/10012468242
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/10012468524
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/10012469982
, college, and earnings registries spanning the state of Texas, we identify relative college value-added by comparing the … the wide diversity of Texas public universities. Selectivity poorly predicts value-added within student choice sets, with …
Persistent link: https://www.econbiz.de/10012629496
Persistent link: https://www.econbiz.de/10013465344
We examine the labor supply decisions of substitute teachers - a large, on-demand market with broad shortages and inequitable supply. In 2018, Chicago Public Schools implemented a targeted bonus program designed to reduce unfilled teacher absences in largely segregated Black schools with...
Persistent link: https://www.econbiz.de/10013477206
of ability tracking in the US. To fill this gap, we use detailed administrative data from Texas to estimate the extent of …
Persistent link: https://www.econbiz.de/10013362024