The President and the Senate bargain over the appointment of the Head of a key government department. The operating unit of the department has private information about its operating environment. We model the appointment process as a constrained delegation of policymaking to the operating unit...

The main economic activity of the people of Eritrea is agriculture: crop production and livestock herding. Agriculture mainly comprises mixed farming and some commercial concessions. Most agriculture is rain-fed. The main rain-fed crops are sorghum, millet and sesame, and the main irrigated...

For constitituional order the Banco de la Republica should maintain low the inflation, to maintain the purchasing power of the currency, so the Bank used the outline of monetary corridors until the end of the decade, being able to reduce the inflation around ten points; but losing operability,...

While corporate taxation is a major issue in the debate over international finance, economic theory has no clear stance on who bears its burden. On balance, economists seem still more prone to accept that taxing profits does not affect corporations' outcomes. This paper makes three cases for...

This paper provides new evidence on the response of business investment to tax incentives. I use the variation provided by recent reforms to the Mexican corporate tax system, including the elimination and reintroduction of accelerated depreciation allowances applicable to investment undertaken...

The purpose of this article is to describe how inflation analysis and forecasting has been carried out in the Bank, with particular emphasis on recent research and the new challenges facing the Bank following the launch of the euro on 1 January 1999. Broadly speaking the approach adopted by the...

This paper revisits the debate about communal management of natural resources and brings together various issues confronting it. Much of the criticism against common property regimes stems from an incorrect modeling of a common property situation, and misunderstandings about the terms and their...

This paper uses both parametric and non-parametric approaches to estimate technical efficiency for 2,298 construction firms in Vietnam in the database of the 2002 Economic Census for Enterprises by the General Statistics Office of Vietnam (GSO). It is found that results from both approaches are...

We analyze the effects of leadership in banking when oligopolistic competition exists in the market of deposits. We assess such effects by comparing the performance of banking systems that only differ on their strategic interactions. Specifically, we compare the outcomes associated to strategies...

How individual behaviour is determined or at least influenced by social norms is one of the classic questions of social theory. We consider a norm as a rule guiding individual decisions concerning rituals, beliefs, traditions, and routines. Whenever coordinated behaviour is enforced without the...