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-monetary disincentives to corruption. In doing so, we also test the Beckarian prediction that at the same level of expected payoff, a low … probability of detection with high penalty is a stronger deterrent to corruption than a high probability of detection with low …
Persistent link: https://www.econbiz.de/10012960284
corruption, using a harassment bribery game. In doing so, we also test the Beckerian prediction that at the same level of … expected payoff, a low probability of detection with high fine is a stronger deterrent to corruption than a high probability of …
Persistent link: https://www.econbiz.de/10012931515
Corruption among central banks induces distorted policies by, first, increasing the inflation bias and, second … bankers with similar preferences, corruption might be tolerated as an instrument of bringing factual policies more in line …
Persistent link: https://www.econbiz.de/10009424461
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reports new theory and tests related to delegation of monetary policy to an independent central bank. The authors find that …
Persistent link: https://www.econbiz.de/10010524515
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In this paper I investigate the trade-off a legislature faces in the choice of instruments to ensure accountability by bureaucrats with private information. The legislature can either design a state-contingent incentive scheme or “menu law” to elicit the bureau's information or it can simply...
Persistent link: https://www.econbiz.de/10013151463
theory and tests related to delegation of monetary policy to an independent central bank. The authors find that delegation …
Persistent link: https://www.econbiz.de/10014130509