The Holy Grail of a decentralised stablecoin is achieved on rigorous mathematical frameworks, obtaining multiple advantageous proofs: stability, convergence, truthfulness, faithfulness, and malicious-security. These properties could only be attained by the novel and interdisciplinary combination...

There is investigated the influence of the determinants - subunit interdependences and knowledge transfer costs, on the level of decentralization and the performance measurement system (PMSs) using as an example a subdivisional unit from the Bulgarian social health and care experience. There is...

Multinational and multiproduct firms often experience uncertainty in the relative return of conducting activities in different markets due to, for example, exchange rate volatility or the changing prospects of different products. We study how a multi-divisional organization should optimally...

We analyze the strategic interaction of regional and federal governments using a model that includes fiscal externalities in the form of inter-regional capital tax competition and technical externalities in the form of inter-regional spillovers. The federal government aims to correct for these...

Maßnahmen zugunsten von Regionen mit Entwicklungsrückstand sind oft nur dann erfolgreich, wenn eine Region bereits mit einigen notwendigen "Zutaten" für Wachstum ausgestattet ist - Geschichte zählt! Es wäre sinnvoller, ärmere Regionen und Kommunen in die Lage zu versetzen, eigene...

In assessing the desirability for tax decentralization reforms, a dilemma between efficiency and redistribution emerges. By limiting the ability of the central government to redistribute resources towards regions in financial needs, decentralization curbs incentives for excessive subnational...

Considerable attention has been given to enhancing subnational development finance in response to the 2008 global financial crisis and recent global development agendas, including the Sustainable Development Goals, Financing for Development, and Habitat III/New Urban Agenda. Much work on this...