Public choice analysts have often argued that the level of government spending willreflect voter-taxpayer’s demand for public goods, while the fiscal illusion literature hasargued that certain features of the tax structure affect voter’s perceptions of their taxburden causing them to...

In order to understand inefficient institutions, one needs to understand what mightcause the breakdown of a political version of the Coase Theorem. This paper considersan environment populated by ex-ante identical agents and develops a model of powerand distribution where institutions (the...

Modelling infrastructure as an international public good in a two-country modelof trade where each country’s social planner behaves strategically, we showthat the equilibrium levels of infrastructure are sub-optimal from a globalperspective...

We suggest an alternative way of analyzing the canonical Bergstrom-Blume-Varian model of non-cooperative voluntary contributions to a public goodthat avoids the proliferation of dimensions as the number of players is in-creased. We exploit this approach to analyze models in which the...

We present a rigorous, yet elementary, demonstration of the existence of a uniqueLindahl equilibrium under the assumptions that characterize the standard n-player public goodmodel. Indeed, our approach, which exploits the aggregative structure of the public goodmodel, lends itself to a...

We examine whether an economy can have a bad (small or no formal sector, hightaxes) as well as a good (small or no informal sector, low taxes) equilibrium...

The growing relevance, scale, and complexity of Business Intelligence (BI) entails the need to findagile and efficient solutions for the coordination of maintenance and release processes – underconsideration of the heterogeneity of the involved units on the IT and the business side. The...

Demographic crisis and imprudent commitments have induced a crisis in publicpension programmes in OECD countries. Will present and prospective cutbacks leadto greater private saving, either in the form of private pension provision or in otherforms of saving? The paper surveys existing evidence,...

This paper examines whether the evidence from OECD countries is consistent withthe predictions of endogenous growth models that the structure of taxation and publicexpenditure can affect the steady-state growth rate. We find strong support for theBarro (1990) public policy endogenous growth...

[...]This article examines the origins and early development ofthe Federal Reserve’s book-entry system—the system mostclosely associated with the elimination of definitive, orcertificated, Treasury securities. We suggest that the Fed’ssystem was the product of three important factors: the...