Search Results - subject:"Limited commitment"

Comment on "Collateral premia and risk sharing under limited commitment"

Zierhut, Michael - In: Economic theory bulletin 2 (2014) 1, pp. 111-113

Persistent link: https://www.econbiz.de/10010345676

Optimal incentive contracts for knowledge workers

Englmaier, Florian; Mühlheußer, Gerd; Roider, Andreas - In: European economic review : EER 67 (2014), pp. 82-106

Persistent link: https://www.econbiz.de/10010423128

Delegation and dynamic incentives

Shin, Dongsoo; Strausz, Roland - In: The Rand journal of economics 45 (2014) 3, pp. 495-520

Persistent link: https://www.econbiz.de/10010423888

International Capital Flows in the Model with Limited Commitment and Incomplete Markets

Hagen, Jürgen von; Zhang, Haiping - In: Open Economies Review 25 (2014) 1, pp. 195-224

Recent literature has proposed two alternative types of financial frictions, i.e., limited commitment and incomplete … facilitate a direct comparison of their respective effects. In our model, limited commitment distorts the investment made by …

Persistent link: https://www.econbiz.de/10010988438

A macroeconomic model of liquidity crises

Kobayashi, Keiichiro; Nakajima, Tomoyuki - Faculty of Economics, University of Tokyo - 2014

We develop a macroeconomic model in which liquidity plays an essential role in the production process, because _rms have a commitment problem regarding factor payments. A liquidity crisis occurs when _rms fail to obtain su_cient liquidity, and may be caused either by self-ful_lling beliefs or by...

Persistent link: https://www.econbiz.de/10010933533

The Political Coase Theorem: Experimental evidence

Galiani, Sebastian; Torrens, Gustavo; Yanguas, Maria Lucia - In: Journal of Economic Behavior & Organization 103 (2014) C, pp. 17-38

The Political Coase Theorem (PCT) states that, in the absence of transaction costs, agents should agree to implement efficient policies regardless of the distribution of bargaining power among them. This paper uses a laboratory experiment to explore how commitment problems undermine the validity...

Persistent link: https://www.econbiz.de/10010776749

Optimal disclosure policy and undue diligence

Andolfatto, David; Berentsen, Aleksander; Waller, … - In: Journal of Economic Theory 149 (2014) C, pp. 128-152

and limited commitment. Information about future asset returns is available to society, but legislation dictates whether …

Persistent link: https://www.econbiz.de/10010729550

Optimal incentive contracts for knowledge workers

Englmaier, Florian; Muehlheusser, Gerd; Roider, Andreas - In: European Economic Review 67 (2014) C, pp. 82-106

We study optimal incentive provision for “knowledge workers”, a crucial resource for many organizations. We augment a standard moral-hazard framework to reflect two key patterns: First, retention is a challenge because workers are free to leave; thereby harming their employer. Second, the...

Persistent link: https://www.econbiz.de/10011048587

Does risk sharing increase with risk aversion and risk when commitment is limited?

Laczó, Sarolta - In: Journal of Economic Dynamics and Control 46 (2014) C, pp. 237-251

I consider a risk-sharing game with limited commitment, and study how the discount factor above which perfect risk …

Persistent link: https://www.econbiz.de/10011051972

Optimal fiscal policy in a small open economy with limited commitment

Bauducco, Sofia; Caprioli, Francesco - In: Journal of International Economics 93 (2014) 2, pp. 302-315

We introduce limited commitment into a standard optimal fiscal policy model in small open economies. We consider the … the world may have limited commitment, which means that they can leave the contract if they find it convenient. The … economy as an economy where the limited commitment problem is active in equilibrium. Conversely, a small open developed …

Persistent link: https://www.econbiz.de/10011056370