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Fiscal and other macroeconomic effects of privatization
Katsoulakos, Yannis; Likoyanni, Elissavet - 2002
impact on public debt and the impact on other macroeconomic variables (unemployment and growth). The main results are the … have been used as a means of reducing government deficit in Spain, Greece, Italy and Portugal. Their results indicate that … find that there exists a statistically significant and negative relation between privatization receipts and public debt for …
Persistent link: https://www.econbiz.de/10011335780
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Endogenous Price Mechanisms,Capture and Accountability Rules: Theory and Evidence
Guerriero, Carmine - 2006
This paper analyzes the constitutional determinants of cost reimbursement rules. In order to design the optimal incentive schemes, a possibly partisan planner will take into account the market cost structure, the institutional design of the supervision hierarchical structure and its technology....
Persistent link: https://www.econbiz.de/10010312604
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Debt, poverty and resource management in a rural smallholder economy
Barbier, Edward B.; López, Ramón - 1998
This paper explores the link between poverty and resource allocation, including the management of natural resources, by chronically indebted rural smallholders in developing countries. The paper proposes a formal intertemporal model of a credit constrained farm household that can invest in...
Persistent link: https://www.econbiz.de/10011608455
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Behavioral Biases of Dealers in U.S. Treasury Auctions
Goldreich, David - 2004
This paper provides evidence of bounded rationality by large dealers in U.S. Treasury auctions. I argue that these dealers use a heuristic of yield-space bidding which leads to biases manifested in three ways: they submit dominated bids, i.e., those that could be improved without raising the...
Persistent link: https://www.econbiz.de/10011325017
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Government debt, agent heterogeneity and wealth displacement in a small open economy
Petrucci, Alberto R. - 2002
The consequences of government debt on capital formation, financial wealth and labor are investigated in a small open … debt and the financial crowding out morphology strictly depend on the type of demographic heterogeneity. While in the SS … economy debt crowds out capital, increases net foreign assets and contracts labor, in the OLG economy it generates the exact …
Persistent link: https://www.econbiz.de/10011335750
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Russia: The Long Road to Ratification. Internal Institution and Pressure Groups in the Kyoto Protocol's Adoption Process
Buchner, Barbara; Dall'Olio, Silvia - 2004
The Russian Federation played a crucial role in the ratification of the Kyoto Protocol. Indeed, after the US decision not to comply with the treaty, its ratification turned out to be indispensable for the Protocol to become legally binding. In early 2002, the Russian government decided to...
Persistent link: https://www.econbiz.de/10011325025
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The political economy of incentive regulation: Theory and evidence from US states
Guerriero, Carmine - 2008
The determinants of incentive regulation are a key issue in industrial policy. I study an asymmetric information model of incentive rules selection by a political principal endowed with an information-gathering technology whose efficiency increases with the effort exerted by two accountable...
Persistent link: https://www.econbiz.de/10010270939
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The causes of corruption: evidence from China
Dong, Bin; Torgler, Benno - 2010
In this study we explore in detail the causes of corruption in China using two different sets of data at the regional level (provinces and cities). We observe that regions with more anti-corruption efforts, histories of British rule, higher openness, more access to media and relatively higher...
Persistent link: https://www.econbiz.de/10010272395
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Interactions between state and federal climate change policies
Goulder, Lawrence H.; Stavins, Robert N. - 2010
Federal action addressing climate change is likely to emerge either through new legislation or via the U.S. EPA's authority under the Clean Air Act. The prospect of federal action raises important questions regarding the interconnections between federal efforts and state-level climate policy...
Persistent link: https://www.econbiz.de/10010272431
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The consequences of corruption: evidences from China
Dong, Bin; Torgler, Benno - 2010
With complementary Chinese data sets and alternative corruption measures, we explore the consequences of corruption. Adopting a novel approach we provide evidence that corruption can have both, positive and negative effects, on economic development. The overall impact of corruption might be the...
Persistent link: https://www.econbiz.de/10010272486