This paper studies the effect of individual uncertainty on collective decision-making to implement innovation. We show how individual uncertainty creates a bias for the status quo even under irreversible voting decisions, in contrast with Fernandez and Rodrik (1991). Blocking innovation is...

Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the financial, capital and banking sectors, product...

Viewing fiscal policies as the outcome of democratically resolved conflicts of households over public goods and taxes, the “economic model of politics” proposes a public choice approach, which does not rely on social welfare functions. With it, a country’s overall budget can be derived...

This paper reviews the role of accounting in budget system reform from the perspective of emerging economies who wish to adopt the OECD''s performance budgeting reforms. While many OECD countries, pursuing the reforms associated with the New Public Management, have moved their accounting systems...

Institutional transparency makes future contingencies more easily predictable for investors. Greater transparency can be achieved through vertical and horizontal integration of policy rules, which may result in lower Knightian uncertainty (ambiguity). In a model based on cumulative prospect...

Agri-environmental Policy and the Principle of Subsidiarity - Introduction into the Concept of Fiscal Federalism The Theory of Fiscal Federalism offers a normative framework to evaluate the existing allocation of competences. To derive an actual relevant scope for reforms supporting an efficient...

The impact of political institutions, e.g. the organization of legislature, election and party systems, on agricultural protection has hardly been taken into account explicitly in theoretical and empirical studies, yet. In this framework the paper investigates to what extent political...

Recent work on the political economy of fiscal policy has asked how budgetary institutions affect fiscal outcomes. But what determines the budgetary institutions? In this paper I consider one such institution: the executive veto. A simple theoretical framework predicts that jurisdictions with...

Vor dem Hintergrund einer zunehmend disparat verlaufenden Finanzlage der deutschen Kommunen begibt sich Marc Seuberlich mithilfe quantitativer und qualitativer Daten auf die Suche nach den möglichen Ursachen dieser Entwicklung. Forschungsleitend wird von der These ausgegangen, dass neben den...