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The Political Economy of Deforestation in the Tropics

Burgess, Robin; Hansen, Matthew; Olken, Benjamin; … - C.E.P.R. Discussion Papers - 2012

incentives of local bureaucrats and politicians who enforce forest policy may be critical to combating tropical deforestation. We … run substitutes, but this effect disappears over time as political turnover occurs. The results illustrate how incentives …

Persistent link: https://www.econbiz.de/10011084290

Household Willingness to Pay for Organic Products

Griffith, Rachel; Nesheim, Lars - C.E.P.R. Discussion Papers - 2008

We use hedonic prices and purchase quantities to consider what can be learned about household willingness to pay for baskets of organic products and how this varies across households. We use rich scanner data on food purchases by a large number of households to compute household specific lower...

Persistent link: https://www.econbiz.de/10005662137

'Home Biases', 19th Century Style

Flandreau, Marc - C.E.P.R. Discussion Papers - 2005

This paper discusses the existence of 'home' biases in the 19th century global capital market, whereby colonies appear to have received a 'disproportionate' amount of capital from their metropolis. Starting from a discussion of the Bulow Rogoff (1989) problem, we argue that imperial links...

Persistent link: https://www.econbiz.de/10005123494

Sovereign debt, government myopia, and the financial sector

Acharya, Viral V; Rajan, Raghuram G - C.E.P.R. Discussion Papers - 2011

What determines the sustainability of sovereign debt? In this paper, we develop a model where myopic governments seek electoral popularity but can nevertheless commit credibly to service external debt. They do not default when they are poor because they would lose access to debt markets and be...

Persistent link: https://www.econbiz.de/10009371472

Very Long-Run Discount Rates

Giglio, Stefano W; Maggiori, Matteo; Ströbel, Johannes - C.E.P.R. Discussion Papers - 2014

We provide direct estimates of how agents trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We exploit a unique feature of housing markets in the U.K. and Singapore, where residential property ownership takes the form of either...

Persistent link: https://www.econbiz.de/10011083367

Transitional Dynamics to Optimal Sustainable Growth

Musu, Ignazio - C.E.P.R. Discussion Papers - 1996

This paper presents a simple model of optimal sustainable growth when the environmental stock enters the consumers' utility function and production depends on produced capital and on a flow of environmental services. Endogenous growth is obtained by making the productivity growth of the...

Persistent link: https://www.econbiz.de/10005788866

Specific Knowledge and Performance Measurement

Raith, Michael - C.E.P.R. Discussion Papers - 2004

This Paper examines optimal incentives and performance measurement in a setting where an agent has specific knowledge … choice of performance measures and incentives depends on the agent’s knowledge, environmental risk, technological uncertainty …, and job complexity. The theory leads to several novel predictions, as well as new explanations for existing empirical …

Persistent link: https://www.econbiz.de/10005504471

Courts of Law and Unforeseen Contingencies

Anderlini, Luca; Felli, Leonardo; Postlewaite, Andrew - C.E.P.R. Discussion Papers - 2001

We study a contracting model with unforeseen contingencies in which the court is an active player. Ex-ante, the contracting parties cannot include the risky unforeseen contingencies in the contract they draw up. Ex-post the court observes whether an unforeseen contingency occurred, and decides...

Persistent link: https://www.econbiz.de/10005504519

Team Governance: Empowerment or Hierarchical Control

Friebel, Guido; Schnedler, Wendelin - C.E.P.R. Discussion Papers - 2007

We investigate a team setting in which workers have different degrees of commitment to the outcome of their work. We show that if there are complementarities in production and if the team manager has some information about team members, interventions that the manager undertakes in order to...

Persistent link: https://www.econbiz.de/10005504583

Monetary Discipline and Cooperation in the European Monetary System: A Synthesis

Melitz, Jacques - C.E.P.R. Discussion Papers - 1988

This paper tries to explain how, despite its fundamental asymmetry, the European Monetary System may benefit all its members. I argue that the high-inflation members obtain benefits of increased monetary discipline, while the others experience improvements in their international competitiveness....

Persistent link: https://www.econbiz.de/10005504743