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"We analyze government interventions to alleviate debt overhang among banks. Interventions generate two types of rents …
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We analyze government interventions to alleviate debt overhang among banks. Interventions generate two types of rents …
Persistent link: https://www.econbiz.de/10013130980
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comparing decentralized and centralized system. As in the recent Second Generation Theory (SGT) of fiscal federalism (Seabright … production cost of the public good in each region, a different trade-off - from the traditional and new theory of fiscal …
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We consider a two group contest over a group specific public good where each member of a group has a different benefit from the good. Our model can be interpreted in two ways: Each of the players has a non-linear investment cost in the contest, or alternatively, the returns to effort are...
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