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To a very large extent, politics is agency. Indeed, agent-principal relationships pervade public and public-private behavior. This paper reviews the extensive but not yet integrated literature applying agency concepts to political settings. This includes agency in definitions of politics or...
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Empirical evidence on the causes and effects of inequality suggests the existence of a vicious circle of mutually reinforcing inequality and corruption. Despite the broad empirical evidence, there are only a few formal theoretical models on these dynamics. Relying on a game-theoretic approach,...
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The matching efficiency of the standard matching function is known to follow a pro-cyclical pattern. An observed rightward shift in the UK's Beveridge Curve after the Great Recession, suggests a decrease in the matching efficiency between vacancies and unemployed workers. This paper studies the...
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In this paper we analyze the sources of German unemployment within a structural vector error correction model (SVECM …, productivity and unemployment which is interpreted as a wage setting relation. From a Subset VECM we identify meaningful structural … shocks and assess their importance for unemployment by impulse response analysis and forecast error variance decompositions …
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