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Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1994

We study a number of mechanisms through which an economy can be stuck at a high unemployment equilibrium because a poor labour market is associated with support for poor policy. These mechanisms are consistent with the relative scarcity of measures that have been undertaken to cure unemployment....

Persistent link: https://www.econbiz.de/10005661453

Protocol Design and (De-)Centralization

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2007

Should privately informed agents with diverging interests act independently or should they commit to a mechanism? This paper analyzes different communication and decision protocols when communication involves delay. It studies under which conditions agents should (i) choose their actions...

Persistent link: https://www.econbiz.de/10005498109

Dealer Networks

Li, Dan; Schürhoff, Norman - C.E.P.R. Discussion Papers - 2014

Dealers in over-the-counter securities form networks to mitigate search frictions. The audit trail for municipal bonds shows the dealer network has a core-periphery structure. Central dealers are more efficient at matching buyers and sellers than peripheral dealers, which shortens intermediation...

Persistent link: https://www.econbiz.de/10011084269

The Organization of Firms Across Countries

Bloom, Nicholas; Sadun, Raffaella; Van Reenen, John - C.E.P.R. Discussion Papers - 2009

through facilitating greater firm decentralization. We collect original data on the decentralization of investment, hiring … stronger rule of law specialize in industries that rely on decentralization and allow more efficient firms to grow in scale …. Furthermore, even for firms of a given size and industry, trust and rule of law are associated with more decentralization which …

Persistent link: https://www.econbiz.de/10005034760

Fifty Years of Regional Inequality in China: A Journey through Revolution, Reform and Openness

Kanbur, Ravi; Zhang, Xiaobo - C.E.P.R. Discussion Papers - 2001

This Paper constructs and analyses a long run time series for regional inequality in China from the Communist Revolution to the present. There have been three peaks of inequality in the last fifty years, coinciding with the Great Famine of the late 1950s, the Cultural Revolution of the late...

Persistent link: https://www.econbiz.de/10005661875

Political Selection and the Quality of Government: Evidence from South India

Besley, Timothy J.; Pande, Rohini; Rao, Vijayendra - C.E.P.R. Discussion Papers - 2005

This paper uses household data from India to examine the economic and social status of village politicians, and how individual and village characteristics affect politician behaviour while in office. Education increases the chances of selection to public office and reduces the odds that a...

Persistent link: https://www.econbiz.de/10005661887

Real-Time Hierarchical Resource Allocation with Quadratic Costs

Van Zandt, Timothy - C.E.P.R. Discussion Papers - 2003

This Paper presents a model in which boundedly rational members of an administrative staff calculate resource allocations in real time. We consider a class of hierarchical procedures in which information about payoff functions flows up and is aggregated by a hierarchy, while allocations flow...

Persistent link: https://www.econbiz.de/10005662081

The Architecture of Federations: Constitutions, Bargaining, and Moral Hazard

Kessler, Anke; Luelfesmann, Christoph; Myers, Gordon M - C.E.P.R. Discussion Papers - 2009

centralization and decentralization are suboptimal as long as political bargaining does not take place. With bargaining, however, the … first best can often be achieved under decentralization, but not under centralization. At the root of this result is the …

Persistent link: https://www.econbiz.de/10005662248

Distributive Politics and the Costs of Centralization

Lockwood, Ben - C.E.P.R. Discussion Papers - 1998

This paper integrates the distributive politics literature with the literature on decentralization by incorporating …. The efficiency of decentralization and the performance of 'constitutional rules' (such as majority voting) which may be … used to choose between decentralization and centralization are then discussed in this framework. Stronger externalities and …

Persistent link: https://www.econbiz.de/10005789145

Decentralization and Political Institutions

Enikolopov, Ruben; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2003

Does fiscal decentralization result in more efficient governance and higher economic growth? This Paper empirically … tests the hypothesis posed by theoretical literature that the effect of economic decentralization depends on features of the … political institutions. Using data from 95 countries for the last 25 years, we show that the effect of decentralization on …

Persistent link: https://www.econbiz.de/10005791475