Attempts to maintain prices different from those that would otherwise be determined by supply and demand are virtually guaranteed to result in illegal behaviour, including in the case of laws that determine the salaries of civil servants. In Indonesia, private sector salaries are highly...

The paper aims at assessing indicators and individual elements of e-government of selected countries in 2009-2010, and the interrelation of e-government with corruption in the public sector. The authors explore possible causal and dependency relations of the established interlink between...

I provide evidence that defined contribution (DC) pensions make retirement more positively correlated with stock market returns as compared to defined benefits (DB) pensions. To identify the effect, I exploit the U.S. federal government's switch in 1984 from a DB pension system (CSRS) to a...

An inadvertent consequence of asset quality review by the Reserve Bank of India is that it portrayed public sector banks as inefficient managers of the burgeoning non-performing asset crisis relative to their private sector peers. A study, which used panel data regression to investigate the NPAs...

This article explores how financing frictions that originated from the demise of municipal bond insurers affected public sector employment outcomes during the 2008-9 financial crisis. I construct a new data set that combines local governments' characteristics, reliance on bond insurance, bond...

This paper uses a unique data set of local governments’ bond issuance, expenditure, and employment to study the impact of the monoline insurance industry’s demise on local governments’ operations. To show causality, I use an instrumental variable approach that exploits persistent insurance...