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The idea of "common good" and the role of the state in present day social economics

Mastromatteo, Giuseppe; Solari, Stefano - In: Rivista internazionale di scienze sociali 122 (2014) 1, pp. 85-102

Persistent link: https://www.econbiz.de/10010374521

Quantifying and sustaining welfare gains from monetary commitment

Levine, Paul; McAdam, Peter; Pearlman, Joseph G. - 2007

The objectives of this paper are: first, to quantify the stabilization welfare gains from commitment; second, to … examine how commitment to an optimal rule can be sustained as an equilibrium and third, to find a simple interest rate rule … that closely approximates the optimal commitment one. We utilize an influential empirical micro-founded DSGE model, the …

Persistent link: https://www.econbiz.de/10011604755

Auction Design without Commitment

Vartiainen, Hannu - 2003

We study auction design when parties cannot commit themselves to the mechanism. The seller may change the rules of the game and the buyers choose their outside option at all stages. We assume that the seller has a leading role in equilibrium selection at any stage of the game. Stationary...

Persistent link: https://www.econbiz.de/10011325053

Environmental enforcement with endogenous ambient monitoring

Franckx, Laurent - 2002

commitment power has a very strong impact on the value of prior information. …

Persistent link: https://www.econbiz.de/10011335754

Vertical Integration and Market Foreclosure with Convex Downstream Costs

Baake, Pio; Kamecke, Ulrich; Normann, Hans-Theo - 2001

In a framework with an upstream monopoly and a downstream duopoly, we analyze the impact of convex costs on the downstream level. In contrast to the case of constant marginal costs, vertical integration does not imply complete market foreclosure. While the non-integrated downstream firm receives...

Persistent link: https://www.econbiz.de/10010260776

Privacy, time consistent optimal labor income taxation and education policy

Konrad, Kai A. - 1999

Incomplete information is a commitment device for time consistency problems. In the context of time consistent labor …

Persistent link: https://www.econbiz.de/10010262302

Human Capital Investment and Globalization in Extortionary States

Andersson, Fredrik; Konrad, Kai A. - 2001

This paper considers education investment and public education subsidies in closed and open economies with an extortionary government. The extortionary government in a closed economy has incentives to subsidize education in order to overcome a hold-up problem of time consistent taxation, similar...

Persistent link: https://www.econbiz.de/10010262447

Globalization and Human Capital Formation

Andersson, Fredrik; Konrad, Kai A. - 2001

This paper compares education investment in closed and open economies without government and with a benevolent government. The fact that the time consistency problem in taxation can make labor mobility beneficial even if governments are fully benevolent – which is known from other contexts –...

Persistent link: https://www.econbiz.de/10010262452

Optimal fiscal policy over the business cycle

Occhino, Filippo - 2005

is driven by exogenous technology shocks. We first consider the commitment case, and characterize the Ramsey equilibrium … positively correlated with production. Then, we relax the commitment assumption, and we show how to determine numerically whether …, Commitment, Time-consistency, Ramsey equilibrium, Markov perfect equilibria, Sustainable equilibria. …

Persistent link: https://www.econbiz.de/10010263265

Board Independence and CEO Turnover

Laux, Volker - 2005

follows because a lack of board independence serves as a substitute for commitment. Boards that are dependent on the incumbent …

Persistent link: https://www.econbiz.de/10010263315

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