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Incentives and the delegation of decision making power in sovereign wealth funds
Grigoryan, Artur - 2011
independent external manager. It formalizes the learning-effects as well as the increase of transparency of the SWF and the rise … of investment possibilities associated with higher transparency. It also focuses on the role of elections as a basic … socially optimal and under which circumstances it takes place. -- Sovereign Wealth Fund (SWF) ; Transparency ; Policy …
Persistent link: https://www.econbiz.de/10008990540
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Incentives and the delegation of decision making power in sovereign wealth funds
Grigoryan, Artur - 2011
independent external manager. It formalizes the learning-effects as well as the increase of transparency of the SWF and the rise … of investment possibilities associated with higher transparency. It also focuses on the role of elections as a basic … socially optimal and under which circumstances it takes place. -- Sovereign Wealth Fund (SWF) ; Transparency ; Policy …
Persistent link: https://www.econbiz.de/10009008096
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Signaling in Political Cycles : How Far are You Willing to Go?
Streb, Jorge M. - 2007
Previous results on political cycles as a signal of competency assumed that opportunism was common knowledge. If opportunism is not common knowledge, there may be a partially pooling equilibrium where cycles indicate opportunism rather than competency. Insofar as more discretionality increases...
Persistent link: https://www.econbiz.de/10012728709
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Political Party Negotiations Income Distribution and Endogenous Growth
Chang, Roberto - 2015
This paper examines the determination of the rate of growth in an economy in which two political parties, each representing a different social class, negotiate the magnitude and allocation of taxes. Taxes may increase growth if they finance public services but reduce growth when used to...
Persistent link: https://www.econbiz.de/10013032252
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Elections, Fiscal Policy and Fiscal Illusion
Mourao, Paulo; Veiga, Linda G. - 2010
This paper tests the joint hypotheses that policymakers engage in fiscal policy opportunism and that voters respond by rewarding that opportunism with higher vote margins. Furthermore, it investigates the impact of fiscal illusion on the previous two dimensions. Empirical results, obtained with...
Persistent link: https://www.econbiz.de/10014192600
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Fairness and Redistribution : Us Versus Europe
Alesina, Alberto F.; Angeletos, George-Marios - 2016
Different beliefs about how fair social competition is and what determines income inequality, influence the redistributive policy chosen democratically in a society. But the composition of income in the first place depends on equilibrium tax policies. If a society believes that individual effort...
Persistent link: https://www.econbiz.de/10014103828
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From "what New Political Economy is" to "why is everything New Political Economy?"
Almeida, Rafael Galvão de - In: Economic thought 10 (2021) 2, pp. 28-46
In this paper, I aim to discuss New Political Economy as a label for the economic analysis of politics, in the English language. The term ‘political economy’ itself, although it has ceased to be the preferred term by which economists refer to their discipline, it is still being used by a...
Persistent link: https://www.econbiz.de/10013173054
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From "what is new political economy" to "why is everything new political economy?"
Almeida, Rafael Galvão de - 2018
In this paper I aim to try defining New Political Economy (NEP) as the economic study of politics, with a macroeconomic focus. It emerged from the influences mainly from the criticism of theory of economic policy, political business cycle research, public choice theory and new institutional...
Persistent link: https://www.econbiz.de/10011922303
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Preferences for collective versus individualised wage setting
Boeri, Tito (contributor); Burda, Michael C. (contributor) - 2008
Standard models of equilibrium unemployment assume exogenous labour market institutions and flexible wage determination. This paper models wage rigidity and collective bargaining endogenously, when workers differ by observable skill and may adopt either individualised or collective wage...
Persistent link: https://www.econbiz.de/10003641613
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The scapegoat of heterogeneity : how fragmentation influences political decisionmaking
Ahlfeld, Corinna - 2009
It is regularly stated that political fragmentation has negative effects on reforms leading to delays or even blockades. This connection is reflected in the ‘weak government hypothesis’ arguing that fragmented governments create higher budget deficits. Although the assumption seems logical,...
Persistent link: https://www.econbiz.de/10003867692