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Externalities, incentives, and economic reforms

Aizenman, Joshua; Isard, Peter - 1990

Persistent link: https://www.econbiz.de/10000794725

Externalities, incentives, and failure to achieve national objectives in decentralized economies

Aizenman, Joshua; Isard, Peter - 1991

Persistent link: https://www.econbiz.de/10000811943

Externalities, Incentives and Failure to Achieve National Objectives in Decentralized Economies

Aizenman, Joshua - 1991

The purpose of this paper is to study why decentralized economies often fail to achieve national objective in the presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its tax revenues among a larger number of individual...

Persistent link: https://www.econbiz.de/10012475365

Externalities, Incentives, and Economic Reforms

Aizenman, Joshua - 1990

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

Persistent link: https://www.econbiz.de/10012475638

Country Risk and Incentives Schemes

Aizenman, Joshua - 1986

The purpose of this paper is to address the role of endogenous default penalties that are contingent upon the intensity of default on the part of the borrowing nation, and to evaluate the effects of contingency plans that make the interest rate dependent upon variables that are correlated with...

Persistent link: https://www.econbiz.de/10012477039