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We argue that a higher degree of de facto independence of the legal system from the other government branches as well as public trust in the legal system may reduce the average inflation record of countries through a direct and an indirect channel. The direct channel works by affecting potential...
Persistent link: https://www.econbiz.de/10014064848
Dynastic politicians, who are defined as those whose family members have also served for the same position in the past, occupy a sizable portion of political offices in many parts of the world. We develop a model of how dynastic politicians with inherited political advantages affect electoral...
Persistent link: https://www.econbiz.de/10014167396
Under which conditions do vote-seeking governments pursue reforms in welfare programs that are unpopular among the median voter and that, consequently, likely lead to a loss of votes? This paper proposes reforms may result from a commitment problem of voters between elections. Due to economic...
Persistent link: https://www.econbiz.de/10014189162
the actors who participate in the political decision-making process as well as the rules of the political process have a … their performance? Using public choice and institutional economics theory this paper analyses what chances of success PPPs … have given the existing decision-making structures and the inherent incentives for participating actors, and in what way …
Persistent link: https://www.econbiz.de/10010306845
the actors who participate in the political decision-making process as well as the rules of the political process have a … their performance? Using public choice and institutional economics theory this paper analyses what chances of success PPPs … have given the existing decision-making structures and the inherent incentives for participating actors, and in what way …
Persistent link: https://www.econbiz.de/10009321680
In previous work with Mark Lemley I have discussed the critical role played by the courts in fitting patent law to the ongoing needs of innovation. Careful scrutiny of the recently enacted America Invents Act (AIA), which legislatively reforms American patent law, underscores the need for robust...
Persistent link: https://www.econbiz.de/10014162157
International carbon markets are frequently propagated as an efficient instrument for reducing CO2 emissions. We argue that such markets, despite their desirable efficiency properties, might not be in the best interest of governments who are guided by strategic considerations in negotiations. We...
Persistent link: https://www.econbiz.de/10012225448
International carbon markets are frequently propagated as an efficient instrument for reducing CO2 emissions. We argue that such markets, despite their desirable efficiency properties, might not be in the best interest of governments who are guided by strategic considerations in negotiations. We...
Persistent link: https://www.econbiz.de/10012215277
. We identify an important asymmetry between positive and negative externalities and show that centralization may not be e …¢ cient in economies with positive externalities even when regions are identical and centralization does not entail a loss of … accountability. We also show that decentralization can only Pareto dominate centralization in economies with negative externalities. …
Persistent link: https://www.econbiz.de/10008552431
. We identify an important asymmetry between positive and negative externalities and show that centralization may not be … efficient in economies with positive externalities even when regions are identical and centralization does not entail a loss of … accountability. We also show that decentralization can only Pareto dominate centralization in economies with negative externalities. …
Persistent link: https://www.econbiz.de/10008565925