In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Abstract We study a one-shot information aggregation problem in which agents have to provide effort in order to understand the information they are supposed to process. Agents have a common interest in reaching a good decision but suffer from an individual cost of providing effort. Showing that...

Thema dieses Lehrbuches ist das Zustandekommen wirtschaftspolitischer Entscheidungen. Der erste Teil stellt in knapper Form die allokationstheoretischen Grundlagen dar, die bei der Diskussion von Wirtschaftspolitik nützlich sind. Zunächst werden mögliche Zielsetzungen staatlicher...