's endogenous choice of delegation, the central bank reveals its inflation target and conceals its output target. In contrast … should be part of the optimal delegation solution. …

sind. Die Umverteilung durch geldpolitische Maßnahmen ist eher indirekter Natur. Verstärkt wird die Tendenz zur Delegation … Einsatzmöglichkeiten. Die Delegation der Geldpolitik auf die supranationale Ebene lockert eher die Beschränkungen für die Fiskalpolitik, da …

the agent is protected by limited liability, delegation is never optimal. …

delegation to regional governments. (ii) Asymmetrically informed regional governments bargain about empowering a central … authority. Interestingly delegation outperforms bargaining on average in a setting with side payments but without information … payments delivers in expectation a better result than delegation. …

The paper studies the role of delegation and authority within a principal-agent relation in which a non … transferable utility and contractibility of messages and decision rights. While delegation leads to loss of control, it facilitates … the agent’s participation and leads to an informed decision. Moreover, message-contingent delegation creates incentives …

Applying the modern Property Rights Approach to depict employment and firm-internal delegation relationships, this … interaction effects between firm-internal delegation relationships, the possibly devilish side function of formal corporate ethics …

presidents in law-making. It is argued that the intense use of this legislative tool reflects a tacit delegation of agenda powers … from the Congress to the Executive branch, and that such delegation follows an informational logic, in the sense that it is …

implementation leads to more delegation, but only if workers have high costs of obstructing informed decisions. We further find that …