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The thesis of this paper is that more transparent, rule-bound and subtle mechanisms for policy coordination will be needed to ensure the success of an enlarged European Union. A common policy is a public good with distributional implications. Economists have developed a large number of plausible...
Persistent link: https://www.econbiz.de/10012470703
Institutional constraints to counter potential abuses in the use of political power have been viewed as essential to … power and use collective action to discipline them. We study how the relative homogeneity and solidarity of Islamic society …
Persistent link: https://www.econbiz.de/10014226113
We study the volunteer's dilemma in environments with heterogeneous preferences and private information. We characterize the efficiency properties of equilibrium, which is a departure from all the previous literature that focuses only on the probability of group success. While the probability of...
Persistent link: https://www.econbiz.de/10015072940
political power decides the allocation of resources. We show that Pareto efficient allocations take a quasi-Markovian structure … and can be represented recursively as a function of the identity of the group in power and updated Pareto weights. For … disappear and labor supply and consumption levels fluctuate over time. The labor supply of groups that are not in power are …
Persistent link: https://www.econbiz.de/10012463249
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
recent economics research on prominent ideas in moral psychology. First, the theory that morality is ultimately economically …
Persistent link: https://www.econbiz.de/10014512133
Entitlement programs have become an increasing component of total government spending in the US over the last six … the bottom 50 percent remained stagnant. Richer agents would like the government to provide more public goods as the … programs. Sustained bargaining power by a party that represents the latter, amid budget rules, results in a rising share of …
Persistent link: https://www.econbiz.de/10013210072
We propose a new model of legislative bargaining in which coalitions have different values, reflecting the fact that the policies they can pursue are constrained by the identity of the coalition members. In the model, a formateur picks a coalition and negotiates for the allocation of the surplus...
Persistent link: https://www.econbiz.de/10012479615
bargaining power is durable and changes only due to important events such as elections. Players know their current bargaining … powers, but they can be optimistic that events will shift the bargaining power in their favor. We define congruence (in … political negotiations, political capital) as the extent to which a party's current bargaining power translates into its …
Persistent link: https://www.econbiz.de/10012456391
This paper employs a new empirical approach for identifying the impact of government spending on the private sector … impact of government spending on private sector economic activity …
Persistent link: https://www.econbiz.de/10012462813