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Constitutions and Central Bank Independence: An Objection to McCallum's Second Fallacy
Giordani, Paolo; Spagnolo, Giancarlo - Economics Institute for Research (SIR), … - 2001
Most of the literature on monetary policy delegation assumes that the government can credibly commit to the delegation contract, an assumption criticized by McCallum. This paper provides foundations for the assumption that renegotiating a delegation contract can be costly by illustrating how...
Persistent link: https://www.econbiz.de/10005649136
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A Revisionist View of the Separation of Powers
Brennan, Geoffrey; Hamlin, Alan - In: Journal of Theoretical Politics 6 (1994) 3, pp. 345-368
constitution designed to protect citizens against governmental power. However, there is little agreement on, or analysis of, the …
Persistent link: https://www.econbiz.de/10010777760
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The Revision of the Romanian Constitution: Current Issues (English version)
BOC, Emil - In: Revista de cercetare si interventie sociala 35 (2011) December, pp. 149-170
The process of revision the Romanian Constitution is initiated by the President of Romania on the proposal of the … Constitution responds exclusively to the need to modernize the Romanian society, as it is a new Member State of the European Union … Constitution. The revision of any constitution at a given time responds to the needs of development of the society itself. Unlike …
Persistent link: https://www.econbiz.de/10010586103
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Challenges and Risks of Centralization of Powers in Education Management
Mayorov, Aleksey - In: Educational Studies (2012) 3, pp. 274-287
, Moscow, Russian Federation. Email: anmayorov@hse.ru The author uses the fundamental management theory to analyze how the …
Persistent link: https://www.econbiz.de/10010894357
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Discretional political budget cycles and separation of powers
Streb, Jorge; Lema, Daniel; Torrens, Gustavo - Universidad del CEMA - 2005
In contrast to previous empirical work on electoral cycles, which implicitly assumes the executive has full discretion over fiscal policy, this paper contends that under separation of powers an unaligned legislature may have a moderating role. Focusing on the budget surplus, we find that...
Persistent link: https://www.econbiz.de/10005668831
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КОНСТИТУЦИОННО-ПРАВОВЫЕ МЕХАНИЗМЫ ВОЗДЕЙСТВИЯ ИЗРАИЛЯ И ПАЛЕСТИНЫ НА ОСУЩЕСТВЛЕНИЕ ИСПОЛНИТЕЛЬНОЙ ВЛАСТИ...
КАВАСМИ, БАССАМ АХМЕД - In: Бизнес в законе. … (2009) 3, pp. 218-224
Данная статья посвящена основным особенностям Конституционно-правового механизма Израиля и Палестинской автономии на современном этапе. Рассматриваются...
Persistent link: https://www.econbiz.de/10011224656
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Bank-runs und Moral-hazard
Gontermann, Andreas - Wirtschaftswissenschaftliche Fakultät, Universität … - 2003
Im klassischen Modell von Diamond und Dybvig (1983) werden Bank-runs durch sich selbst erfüllende pessimistische Erwartungen der Anleger provoziert. Sie sind damit ein Sonnenflecken-Phänomen. Die spekulativen Runs können u.a. durch eine Einlagenversicherung vermieden werden. Allerdings...
Persistent link: https://www.econbiz.de/10005063023
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Capital Adequacy Requirements and the Bank Lending Channel of Monetary Policy
Gontermann, Andreas - Wirtschaftswissenschaftliche Fakultät, Universität … - 2003
In this paper a modified version of Bernanke and Blinder�s (1988) model of the bank lending channel of monetary policy under asymmetric information is presented. If, aside from reserve requirements, banks have to meet capital adequacy requirements as well, then the results suggested by...
Persistent link: https://www.econbiz.de/10005063024
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On the Possibility of Credit Rationing in the Stiglitz-Weiss Model
Arnold, Lutz G. - Wirtschaftswissenschaftliche Fakultät, Universität … - 2005
Contrary to what is consistently assumed in the literature, the return function cannot be hump-shaped in the Stiglitz-Weiss (1981) model. This has important consequences for the possible occurrence of credit rationing and redlining. With a single class of borrowers, banks offer credit in two...
Persistent link: https://www.econbiz.de/10005063028
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Would you like to be a prosumer? Information revelation, personalization and price discrimination in electronic markets
Morasch, Karl; Bandulet, Martin - Fakultät für Wirtschafts- und … - 2003
Electronic commerce and flexible manufacturing allow personalization of initially standardized products at low cost. Will customers provide the information necessary for personalization? Assuming that a consumer can control the amount of information revealed, we analyze how his decision...
Persistent link: https://www.econbiz.de/10008462102