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Profit distribution and loss coverage rules for central banks

Bunea, Daniela; Karakitsos, Polychronis; Merriman, Niall; … - 2016

The issue of central bank profit distribution is both complex and often politically controversial. Based on the replies of 57 central banks worldwide to an ECB questionnaire, this paper analyses how profit distribution rules can affect the amounts distributed and the financial strength of...

Persistent link: https://www.econbiz.de/10011606321

Financial Independence of Central Bank through the Balance Sheet Prism

Ivanović, Valentina - In: Journal of Central Banking Theory and Practice 3 (2014) 2, pp. 37-59

The main reason for central bank independence lies in the fact that it is necessary to clearly distinguish spending money from the ability of making money. Independence of central banks is now a characteristic of almost all developed and highly industrialized countries. In this respect, it...

Persistent link: https://www.econbiz.de/10012217793

Mechanisms for efficient voting with private information about preferences

Engelmann, Dirk; Grimm, Veronika - 2008

inefficiency. We analyze an exogenous linking mechanism suggested by Jackson and Sonnenschein (2007) as well as repeated … mechanism captures nearly all achievable efficiency gains, whereas repeated interaction leads to significant gains in truthful …

Persistent link: https://www.econbiz.de/10010299751

Information feedback in a dynamic tournament

Aoyagi, Masaki - 2003

This paper studies the problem of information revelation in a multi-stage tournament where the agents' effort in each stage gives rise to a stochastic performance signal privately observed by the principal. The principal controls the agents' effort incentive through the use of a feedback policy,...

Persistent link: https://www.econbiz.de/10010332399

Implementability of correlated and communication equilibrium outcomes in incomplete information games

Milchtaich, Igal - 2009

receive from an outside source, or mechanism. This allows for more equilibrium outcomes than without such messages (pure … affect the types (correlated equilibrium) or because the players themselves report their types to the mechanism …

Persistent link: https://www.econbiz.de/10010336013

Information gaps, information systems, and the WTO's trade policy review mechanism

Ghosh, Arunabha - 2008

collecting, analysing and disseminating information about members' actions and the regime's effectiveness. The multilateral trade … regime's information system, including the Trade Policy Review Mechanism as its latest and most institutionalised form, has … countries' participation in the mechanism to outline several challenges that prevent the TPRM from fulfilling its stated …

Persistent link: https://www.econbiz.de/10012004281

Optimal income taxation and public goods provision in a large economy with aggregate uncertainty

Bierbrauer, Felix - 2009

priori unknown. The analysis is based on a mechanism design approach that imposes a requirement of robustness with respect to …

Persistent link: https://www.econbiz.de/10010266057

On the legitimacy of coercion for the financing of public goods

Bierbrauer, Felix - 2009

The literature on public goods has shown that efficient outcomes are impossible if participation constraints have to be respected. This paper addresses the question whether they should be imposed. It asks under what conditions efficiency considerations justify that individuals are forced to pay...

Persistent link: https://www.econbiz.de/10010266972

Optimal income taxation, public goods provision and robust mechanism design

Bierbrauer, Felix - 2008

public goods preferences. A mechanism design approach is used to establish the following result: If policies are required to …

Persistent link: https://www.econbiz.de/10010266981

A unified approach to the revelation of public goods preferences and to optimal income taxation

Bierbrauer, Felix - 2008

preferences for public goods. A mechanism design approach is used to characterize implementable tax and expenditure policies. A …

Persistent link: https://www.econbiz.de/10010266987

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