We build on earlier studies regarding Central Bank Independence (CBI) by relating it to political, institutional and economic variables. The data suggest that CBI is positively related to the presence of federalism, the features of the electoral system and parties, the correlation between the...

The aim of the present paper is to gain some insight into the causes of dropping out of school and, more generally, of the factors that induce parents to review their choices about their child's schooling careers. To this end we apply to data from a school dropout survey insights from a model of...

In a framework à la Martin (1993) we introduce a common component in the managers' private information in order to address three related questions: What is the impact of contracts that reward managers on the basis of realized profits on firms' productive and allocative efficiency relative to...