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regulation when policy is determined in a lobbying game between a government and firm. We compare the resulting regulation levels … lobbying, but that lobbying can reverse the welfare ordering. …
Persistent link: https://www.econbiz.de/10010315488
We analyze the determinants of environmental policy when two firms engage in two types of lobbying against a … restriction on allowed pollution: General lobbying increases the total amount of allowed pollution, which is beneficial for both … firms. Private lobbying increases the individual pollution standard of the lobbying firm, but has a negative or zero effect …
Persistent link: https://www.econbiz.de/10010315572
This paper investigates if multinationals in.uence the political process through lobbying more effectively than … national firms. First, I introduce a model which contrasts a multinational's incentives for lobbying with those of a national … firm. Then the effect of lobbying on the political decision is analyzed. I conclude that multinationals have smaller …
Persistent link: https://www.econbiz.de/10010315594
This paper surveys recent approaches towards lobbying if interest groups influence the decision of an incumbent … transmission of information through lobbying. Recent extensions to the two basic lobbying models are discussed in great detail … into a general lobbying model. The survey concludes with a summary of the main insights and indicates promising directions …
Persistent link: https://www.econbiz.de/10010315606
size and find a large negative council size effect. This pattern provides indirect evidence for the occurrence of lobbying …. The direction of the effect could be explained by free-riding incentives in individual lobbying effort contribution caused …
Persistent link: https://www.econbiz.de/10010321552
How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and hence the benefits of a reform. It also increases...
Persistent link: https://www.econbiz.de/10010321824
Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...
Persistent link: https://www.econbiz.de/10011545308
This paper provides an overview of central banking arrangements in those European countries that have adopted the euro. Issues addressed include the structure of the Eurosystem and its central banking functions, the kind of independence granted to the system and the role of monetary policy that...
Persistent link: https://www.econbiz.de/10010266508
This paper critically assesses the rise of central bank independence (CBI) as an apparent success story in modern monetary economics. As to the observed rise in CBI since the late 1980s, we single out the role of peculiar German traditions in spreading CBI across continental Europe, while its...
Persistent link: https://www.econbiz.de/10010286503
This paper explores the level of independence of the National Bank of the Republic of Macedonia by primarily focusing on the legal provisions that pertain to the key aspects for achieving and maintaining price stability. It provides a historical perspective of the evolution of the independence...
Persistent link: https://www.econbiz.de/10012109769