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sovereignty. Other events to which historians attach great importance are not reflected in bond prices: The most prominent example …
Persistent link: https://www.econbiz.de/10009781716
Persistent link: https://www.econbiz.de/10003498675
We develop a model in which it is uncertainty about the future domestic policy environment that both makes international cooperation attractive and induces the possibility of a nation reneging on such an international agreement. We show, in a fairly general setting in which the likelihood of...
Persistent link: https://www.econbiz.de/10011809916
In this paper we examine how individuals should be treated with respect to taxes, subsidies and agenda setting in constitutions in order to obtain efficient allocations of public goods and to limit tax distortions. We show that if public goods are socially desirable, the simple majority rule as...
Persistent link: https://www.econbiz.de/10009781718
This paper surveys the empirical research on fiscal institutions of the last three decades. The main results are: (i) Constitutional or statutory fiscal limitations have in most cases proved to be effective in cutting down public expenditure, revenue, and debt. (ii) Budgetary proce-dures matter...
Persistent link: https://www.econbiz.de/10011408436
A perceived need to increase nominal wage flexibility as a substitute for domestic monetary policy and a tendency to less wage moderation are likely to promote bargaining co-ordination and social pacts in the EMU. But such co-ordination is not likely to be sustainable in the long run, as it...
Persistent link: https://www.econbiz.de/10011399330
This paper presents concepts from economic analysis that shed light on the formation and breakup of sovereign states. First, we discuss the key trade-off between economies of scale in the provision of public goods and political costs from heterogeneity of preferences. Second, we present four...
Persistent link: https://www.econbiz.de/10009570592
Persistent link: https://www.econbiz.de/10003688912
Aspirations towards technological sovereignty increasingly pervade the political debate. Yet, an ambiguous definition … globalization. We develop a competence-based definition of technological sovereignty, which puts innovation policy at the core of … fulfilling sovereignty aspirations. Moreover, we show how our definition realigns technological sovereignty with international …
Persistent link: https://www.econbiz.de/10012546886
Persistent link: https://www.econbiz.de/10003597971