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Despite the extensive international experience with the assignments of revenue sources to different levels of government, the public finance literature still lacks a general theory of revenue assignments. Two sets of arguments have been separately developed in the literature to explain and guide...
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Philanthropy is one of the enduring areas of economic research. Why would people work hard only to give their earnings away? The paper explores the theoretical foundations, as well as the empirical and policy research on philanthropy. This paper reviews over 25 years worth of economic research,...
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Contract enforcement and institutional stability play an important role in determining the level and maturity of … international debt. Contract enforcement is modeled as a fixed cost that investors incur to obtain the contracted, gross returns on … international investments. Institutional stability is modeled as the probability that the same contract enforcement cost will …
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