Competition authorities must pay attention to many industries simultaneously. Sectoral regulators concentrate on their own industry. Often both types of authority may intervene in specific industries and there is an overlap of jurisdictions. We show how a competition authority’s resource...

When credit markets to finance investment in the human capital of young people are missing, the competitive equilibrium allocation is inefficient. When generations overlap, this failure can be mitigated by properly designed social institutions such as public education and public pensions. We...

This article reviews the first English edition of Prof. Jesús Huerta de Soto´s book `Dinero, Crédito Bancario y Ciclos Económicos´ which first appeared in Spain in 1998.

The main aim of the article is to compare the power of the Czech representatives in the European Parliament with the power of representatives from other countries, and to compare the power of the Czech political parties in the Lower House of the Czech Parliament with the power of parties’...

Chanchal Kumar Sharma,in his paper demonstrates that in order for fiscal decentralisation to be effective, it must be approached federally. A federal approach is not a decentralised approach but a dynamically balanced approach; one that constantly keeps on adjusting the contrasting forces of...

This paper presents an index of Fiscal Illusion for 68 democratic countries from 1960 to 2006. The studied Fiscal Illusion is the one related to a wrong perception of the budget aggregates according to the voters and taxpayers’ perspectives. In the construction of the index, methodological...

This paper uses Japanese prefecture-level data for the years 1979 and 1996 to examine how the relationship between government size and life satisfaction changes. The major findings are: (1) Government size has a detrimental effect on life satisfaction when government size impedes economic growth...

Following the transaction-costs politics (TCP) approach (Dixit 1996), this paper tries to spell out the making of that development policy, as prevailing in the Objective 1 area in Europe from 1999, based on decentralization and multilevel governance, and essentially implied from the success of...

Since a few decades several sub-disciplines within economics have witnessed a reorientation towards institutional analysis. This development has in particular also affected the fields of macroeconomics and monetary theory where it has led to several proposals for far-reaching financial and...

In this document is presented the main results obtained with the research, about the objective and functions achievement of the Development Agrarian Institute of Costa Rica. This institution was created in 1961, with the name of National Institute of Lands and Colonization (ITCO). In the 80’s...