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Individual Protection Against Property Crime: Decomposing the Effects of Protection Observability

Hotte, Louis; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2005

We revisit the question of the efficiency of individual decisions to be protected against crime for the cases of both …

Persistent link: https://www.econbiz.de/10005504304

Competition with Local Network Externalities

Fjeldstad, Øystein; Moen, Espen R; Riis, Christian - C.E.P.R. Discussion Papers - 2010

Local network externalities are present when the utility of buying from a firm not only depends on the number of other customers (global network externalities), but also on their identity and/or characteristics. We explore the consequences of local network externalities within a framework where...

Persistent link: https://www.econbiz.de/10008530382

Moral Hazard and Efficiency in General Equilibrium with Anonymous Trading

Acemoglu, Daron; Simsek, Alp - C.E.P.R. Discussion Papers - 2010

A 'folk theorem' originating, among others, in the work of Stiglitz maintains that competitive equilibria are always or 'generically' inefficient (unless contracts directly specify consumption levels as in Prescott and Townsend, thus bypassing trading in anonymous markets). This paper critically...

Persistent link: https://www.econbiz.de/10008468520

Independence and Heterogeneity in Games of Incomplete Information

Mason, Robin; Valentinyi, Akos - C.E.P.R. Discussion Papers - 2004

This Paper provides a sufficient condition for the existence and uniqueness of equilibrium in monotone pure strategies … response correspondence is a contraction mapping. This ensures equilibrium existence and uniqueness. Our approach allows us to … establish these results in a wide range of applications, including cases where there are no existing existence results. …

Persistent link: https://www.econbiz.de/10005114177

Preferential Trade Agreements as Stumbling Blocks for Multilateral Trade Liberalization: Evidence for the US

Limão, Nuno - C.E.P.R. Discussion Papers - 2005

Most countries are members of preferential trade agreements (PTAs). The effect of these agreements has attracted much interest and raised the question of whether PTAs promote or slow down multilateral trade liberalization, i.e. whether they are a ‘building block’ or a ‘stumbling block’...

Persistent link: https://www.econbiz.de/10005504231

Redistributive Politics with Distortionary Taxation

Crutzen, Benoît SY; Sahuguet, Nicolas - C.E.P.R. Discussion Papers - 2006

taxation can be understood as an analysis of the trade-off between efficiency and targetability. We derive the equilibrium …

Persistent link: https://www.econbiz.de/10005504298

Transparency Gloves for Grabbing Hands? Politics and (Mis)Governance

Blumkin, Tomer; Gradstein, Mark - C.E.P.R. Discussion Papers - 2002

Employing the canonical political agency model, this Paper studies the incentives of the government to provide high-quality services by reducing corruption. Acting as a principal in a moral hazard framework, the public disciplines the incumbent by replacing him if the generated output is...

Persistent link: https://www.econbiz.de/10005504531

Power to the People: Evidence from a Randomized Field Experiment of a Community-Based Monitoring Project in Uganda

Björkman Nyqvist, Martina; Svensson, Jakob - C.E.P.R. Discussion Papers - 2007

Strengthening the relationship of accountability between health service providers and citizens is by many people viewed as critical for improving access to and quality of health care. How this is to be achieved, and whether it works, however, remain open questions. This paper presents a...

Persistent link: https://www.econbiz.de/10005504630

Reforming Europe's Labour Market: Political Issues

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1995

In this paper we study the political issues associated with reform in the European labour market. We first discuss the role played by labour market rigidities in European society, and argue that reform is a difficult task because many regulations and rigidities benefit the majority of the...

Persistent link: https://www.econbiz.de/10005497719

Should Monetary Policy be Adjusted Frequently?

Eijffinger, Sylvester C W; Huizinga, Harry - C.E.P.R. Discussion Papers - 1999

This paper considers the optimal frequency of central bank decision making. This frequency affects the central bank’s flexibility to respond to economic shocks in a timely fashion, and also its credibility to maintain low inflation. Generally, the central bank resets monetary policy less often...

Persistent link: https://www.econbiz.de/10005497900