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Uncertain booms and fragility
Lee, Michael Junho - 2018
I develop a framework of the buildup and outbreak of financial crises in an asymmetric information setting. In equilibrium, two distinct economic states arise endogenously: "normal times", periods of modest investment, and "booms", periods of expansionary investment. Normal times occur when the...
Persistent link: https://www.econbiz.de/10011880642
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Alternative Liberalisierungsmodelle für die Stromwirtschaft : eine komparative Institutionenanalyse
Kumkar, Lars - 1999
The future of Germanys electricity regulation is still an open question. This paper deals with alternative …
Persistent link: https://www.econbiz.de/10011475164
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Alternative Liberalisierungsmodelle für die Stromwirtschaft : eine komparative Institutionenanalyse
Kumkar, Lars - 1999
Persistent link: https://www.econbiz.de/10013261039
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Agency and communication in IMF conditional lending : theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...
Persistent link: https://www.econbiz.de/10003908576
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Information transmission and ownership consolidation in aid programs
Dreher, Axel; Marchesi, Silvia - 2013
This paper explores the role of information transmission in explaining donors ́choice between project aid and budget support. Budget support increases the involvement of recipient governments in the decision-making process and can thus be an example of a "delegation-scheme." Conversely, project...
Persistent link: https://www.econbiz.de/10010199746
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Information transmission within federal fiscal architectures : theory and evidence
Gehring, Kai; Kotsogiannēs, Chrēstos; Marchesi, Silvia - 2013
This paper explores the role of information transmission and misaligned interests across levels of government in explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal-agent framework, it analyzes two alternative...
Persistent link: https://www.econbiz.de/10010126407
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Wettbewerb in vernetzten Märkten : [... Beiträge zum 44. Symposium der Ludwig-Erhard-Stiftung, das am 11. Mai 2000 im Wissenschaftszentrum Bonn stattfand]
Sillich, Berthold (revision); Schaub, Alexander (contributor) - 2001
Persistent link: https://www.econbiz.de/10001559902
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Net neutrality: a fast lane to understanding the trade-offs
Greenstein, Shane M.; Peitz, Martin; Valletti, Tommaso M. - 2016
The "net neutrality" principle has triggered a heated debate and advocates have proposed policy interventions. In this paper, we provide perspective by framing issues in terms of the positive economic factors at work. We stress the incentives of market participants, and highlight the economic...
Persistent link: https://www.econbiz.de/10011491740
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Speeding up the internet : regulation and investment in European fiber optic infrastructure
Briglauer, Wolfgang; Cambini, Carlo; Grajek, Michał - 2017
incentives to invest in network infrastructure. To this end, we develop a theoretical model explaining investment incentives by … empirical part, we use a novel data set including information on physical fiber network investments, legacy network access … regulation and recently imposed fiber access regulations. Our main finding is that more stringent access regulations for both the …
Persistent link: https://www.econbiz.de/10011687904
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Speeding up the internet : regulation and investment in European fiber optic Infrastructure
Briglauer, Wolfgang; Cambini, Carlo; Grajek, Michał - 2017
incentives to invest in network infrastructure. To this end, we develop a theoretical model explaining investment incentives by … empirical part, we use a novel data set including information on physical fiber network investments, legacy network access … regulation and recently imposed fiber access regulations. Our main finding is that more stringent access regulations for both the …
Persistent link: https://www.econbiz.de/10011774721