This paper explores how trade integration influences the decision by national governments to bailout manufacturing firms. We develop a 2-country model of generalized oligopoly with heterogenous firms and trade costs. High-cost firms are eligible for a bailout while low-cost firms are profitable....

Цель данной статьи – построение основ современной институциональной теории инфляции. Гипотеза исследования состоит в том, что масштабы и особенность...

This contribution revisits the problem of allocating R&D subsidies by government agencies. Typically, the applicants' financial constraints are private information. The literature has recommended the use of auctions in order to reduce information rents and thus improve the efficiency of how...

States have soft budget constraints when they can expect a bailout by the federal government in the event of a financial crisis. This gives rise to incentives for unsound state fiscal policy. We test whether states with softer budget constraints have higher debts and deficits, receive more...

We study the incentives for hospitals to provide quality and expend cost-reducing effort when their budgets are soft, i.e., the payer may cover deficits or confiscate surpluses. The basic set up is a Hotelling model with two hospitals that differ in location and face demand uncertainty, where...

How should agents bid in repeated sequential auctions when they are budget constrained? A motivating example is that of sponsored search auctions, where advertisers bid in a sequence of generalized second price (GSP) auctions. These auctions, specifically in the context of sponsored search, have...

We analyze the space of deterministic, dominant-strategy incentive compatible, individually rational and Pareto optimal combinatorial auctions. We examine a model with multidimensional types, nonidentical items, private values and quasilinear preferences for the players with one relaxation; the...

Diese Doktorarbeit besteht aus drei Aufsätzen und untersucht den Effekt von negativen finanziellen Gegebenheiten wie Kreditrestriktionen oder einer überbewerteten Währung auf die Entwicklungsmöglichkeiten von Firmen. Der erste und zweite Aufsatz analysiert, inwieweit Kreditrestriktionen in...