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also highlighted their pathological problems. This paper studies the case of China for pitfalls of a state … within China is low. Furthermore, to the extent some capital moves around the country, the government (as opposed to the …
Persistent link: https://www.econbiz.de/10012467471
Motivated by growing concerns about the risks and instability of China's financial system, this article reviews several … commonly perceived financial risks and discusses their roots in China's politico-economic institutions. We emphasize the need … to evaluate these risks within China's unique economic and financial systems, in which the state and non-state sectors …
Persistent link: https://www.econbiz.de/10012453483
the face of what they consider the incoherent era of "pluralism" or "postmodernism" that began in the late twentieth …
Persistent link: https://www.econbiz.de/10012463576
Research has repeatedly shown that altruism is lower in diverse communities. Can this phenomenon be counteracted by government intervention? To answer this question, this paper introduces diversity to the canonical model of "warm glow" giving. Diversity may have two effects on incentives: it may...
Persistent link: https://www.econbiz.de/10012465304
of a pluralism without privilege, but they also had doubts about its possibility. They offered some reasons to prefer … pluralism with privilege to the absence of both. They worried that centralization, democratic or otherwise, might be the … preeminent fact of modern state consolidation, and that purely voluntary, equal, associational pluralism might not be powerful …
Persistent link: https://www.econbiz.de/10012457413
Many studies find that presentation of balanced information, offering competing positions, can promote polarization and thus increase preexisting social divisions. We offer two explanations for this apparently puzzling phenomenon. The first involves what we call asymmetric Bayesianism: the same...
Persistent link: https://www.econbiz.de/10012459687
Despite evidence to the contrary, three common myths persist about federal regulations. The first myth is that many regulations concern the environment, but in fact only a small minority of regulations are environmental. The second myth is that most regulations contain quantitative estimates of...
Persistent link: https://www.econbiz.de/10012481816
This paper investigates the extent to which strategic objectives of the U.S. government influenced news coverage during the Cold War. We establish two relationships: 1) strategic objectives of the U.S. government cause the State Department to under-report human rights violations of strategic...
Persistent link: https://www.econbiz.de/10012462913
Government guarantees of private debt deplete equity. The depletion is greatest during periods when the probability of a guarantee payoff is highest. In a setting otherwise subject to Modigliani-Miller neutrality, firms issue guaranteed debt up to the limit the government permits. Declines in...
Persistent link: https://www.econbiz.de/10012464068
Current account imbalances have steadily increased in rich countries over the last 20 years. While the U.S. current account deficit dominates the numbers and the news, other countries, especially within the Euro area, are also running large deficits. These deficits are different from the Latin...
Persistent link: https://www.econbiz.de/10012465731