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Epstein, Gil S.; Nitzan, Shmuel - 2005

The compromise enhancing effect of lobbying on public policy has been established in two typical settings. In the first, lobbies are assumed to act as 'principals' and the setters of the policy (the candidates in a Downsian electoral competition or the elected policy maker in a citizen-...

Persistent link: https://www.econbiz.de/10010261146

Educational standards in private and public schools

Brunello, Giorgio; Rocco, Lorenzo - 2005

We show that, when school quality is measured by the educational standard and attaining the standard requires costly effort, secondary education needs not be a hierarchy with private schools offering better quality than public schools, as in Epple and Romano, 1998. An alternative configuration,...

Persistent link: https://www.econbiz.de/10010261149

Relative performance evaluation in a multi-plant firm

Luporini, Annalisa - 2005

We analyze optimal compensation schedules for the directors of two plants belonging to the same owner and producing the same good but serving geographically differentiated markets. Since the outcome of each director depends on his own effort and on a random variable representing market...

Persistent link: https://www.econbiz.de/10010261151

When the union hurts the workers : a positive analysis of immigration policy

Bellettini, Giorgio; Ceroni, Carlotta Berti - 2005

This paper studies the determinants of immigration policy in an economy with entrepreneurs and workers where a trade union has monopoly power over wages. The presence of the union leads a benevolent government to implement a high level of immigration and induces a welfare loss not only from an...

Persistent link: https://www.econbiz.de/10010261152

Excludable and non-excludable public inputs : consequences for economic growth

Ott, Ingrid; Turnovsky, Stephen J. - 2005

excludable public inputs into a simple endogenous growth model. We derive the equilibrium growth rate and design the optimal tax … the consequences this has in turn for the government's budget. The latter consists of fee and tax revenues that are used …

Persistent link: https://www.econbiz.de/10010261153

Optimal redistributive taxation when government's and agents' preferences differ

Blomquist, Sören; Micheletto, Luca - 2005

some other criterion than individuals? preferences. Using the self-selection approach to tax problems developed by Stiglitz … (1982) and Stern (1982), the paper provides a characterization of the properties of an optimal redistributive mixed tax …

Persistent link: https://www.econbiz.de/10010261157

Fundamental and non-fundamental equilibria in the foreign exchange market : a behavioural finance framework

De Grauwe, Paul; Dieci, Roberto; Grimaldi, Marianna - 2005

We develop a simple model of the exchange rate in which agents optimize their portfolio and use different forecasting rules. They check the profitability of these rules ex post and select the more profitable one. This model produces two kinds of equilibria, a fundamental and a bubble one. In a...

Persistent link: https://www.econbiz.de/10010261158

Knowledge-capital meets new economic geography

Egger, Peter; Gruber, Stefan; Larch, Mario; … - 2005

We incorporate the now standard knowledge-capital model of multinational firms in a new economic geography setting. The theoretical predictions of our model suggest that unskilled labor mobility leads to less concentration of production than skilled labor mobility does. This is in line with...

Persistent link: https://www.econbiz.de/10010261159

Should green governments give priority to environmental policies over growth-enhancing policies?

Economides, George; Philippopoulos, Apostolis - 2005

augmented with renewable natural resources. The government chooses its policy instruments (the income tax rate and the … allocation of collected tax revenues between public investment and environmental policy) to solve a Ramsey-type policy problem … tax revenues for environmental policy and can be only achieved by large tax bases and high growth. Thus, only growing …

Persistent link: https://www.econbiz.de/10010261160

Rational information choice in financial market equilibrium

Muendler, Marc-Andreas - 2005

Adding a stage of signal acquisition to the expected utility model shows that Bayesian updating results in a well defined law of demand for financial information when asset return distributions are conjugate priors to signals such as in the gamma-Poisson case. Signals have a positive marginal...

Persistent link: https://www.econbiz.de/10010261163