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unpleasant policy choices. -- emotions ; political economics ; unrest ; riots ; fairness ; public debt ; procrastination …This paper formulates a general theory of how political unrest influences public policy. Political unrest is motivated … by emotions. Individuals engage in protests if they are aggrieved and feel that they have been treated unfairly. This …
Persistent link: https://www.econbiz.de/10009722397
Austerity is a concept that is often used in the public debate. It refers to fiscal policy measures that reduce government spending and raise taxes for the purposes of closing a government budget deficit. This paper analyzes the concept in the context of the current European economic crisis and...
Persistent link: https://www.econbiz.de/10013107161
The controversy about sovereign debt cuts loomed prominently throughout crisis in the European Union (EU), as the EU legal rules were viewed to impose strict limitations on debt restructuring involving public creditors due to moral hazard concerns enshrined in the legal ban on bailouts. This...
Persistent link: https://www.econbiz.de/10012866369
Persistent link: https://www.econbiz.de/10011696421
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This paper uses a large cross-country survey of business firms to assess their influence on government policies. It is found that influence is associated with larger, government-owned firms that have a high degree of ownership concentration. In contrast, foreign ownership matters little. It is...
Persistent link: https://www.econbiz.de/10003776333
The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation...
Persistent link: https://www.econbiz.de/10009557657
Institutions that potentially have a positive impact on economic performance rarely exist outside of a system of institutions; rather they are embedded in the economic order of a country. It is thus imperative to investigate bundles of performance-enhancing institutions, particularly those...
Persistent link: https://www.econbiz.de/10011392841
In diesem Beitrag wird das kontrafaktische Szenario betrachtet, dass die ganze Erde einen globalen Bundesstaat nach dem Vorbild der Bundesrepublik Deutschland bilden würde, in dem das Grundgesetz analog für alle Menschen und Länder Geltung hätte. Grundgesetz und Organisation der...
Persistent link: https://www.econbiz.de/10011301968
The role of money in producing sustained subjective well-being seems to be seriously compromised by social comparisons and habituation. But does that necessarily mean that we would be better off doing something else instead? This paper suggests that the phenomena of comparison and habituation...
Persistent link: https://www.econbiz.de/10009408713