The euro crisis has sparked changes in the EU's economic governance framework and a crisis of legitimacy across the union. While the institutional repercussions of the crisis have been studied before, the democratic impact at the national level has received much less attention. This paper aims...

Transportation economists apply different labor supply models when studying anti-congestion policy: (i) endogenous working hours; (ii) endogenous workdays but given daily working hours; (iii) labor supply as a residual. We study whether the outcome of anti-congestion policies that change the...

We use Adaptive Weights Smoothing (AWS) of Polzehl and Spokoiny (2000, 2003, 2006) to estimate a map of land values for Berlin, Germany. Our data are prices of undeveloped land that was transacted between 1996-2009. Even though the observed land price is an indicator of the respective land...

The price for a single-family house depends both on the characteristics of the building and on its location. We propose a novel semiparametric method to extract location values from house prices. After splitting house prices into building and land components, location values are estimated with...

The transport and urban economics literature applies different labor supply approaches when studying economic or planning instruments. Some studies assume that working hours are endogenous while the number of workdays is given, whereas others model only decisions on workdays. Unfortunately,...

We investigate the effect of fiscal institutions such as the strength of the finance minister in the budget process and deficits on interest spreads contained in bond yields of the countries now belonging to the Eurozone. Deficits significantly increase risk premia measured by relative swap...

This article aims to assess the impact of federal budget institutions on the primary deficit of the Brazilian Federal Government from 1985 to 2009, a period marked by important changes in these institutions. Based on the methodology established in the literature on political economy that is...

While it is recognized that effective state institutions are pivotal for economic development, it is not well understood what their origins are and what explains their cross-country differences. We focus on budget institutions in developing economies, as efficient public finance planning in such...

Conflicts of interest within hierarchic government organizations regarding the importance of fiscal discipline create the need for institutions that curb the bargaining power of units in charge of implementing policy and align their incentives to the interests of the whole organization. We...

This paper develops an index measuring the adequacy of the institutions, rules and procedures governing the budget process in 46 African countries, presenting the most comprehensive analysis of African budget institutions hitherto conducted. The index includes the three stages of the budget...