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Malcomson, James - 2003

Incentive contracts for gatekeepers who control patient access to specialist medical services provide too weak … incentives to investigate cost further when expected cost of treatment is greater than benefit. Making gatekeepers residual … claimants with a fixed fee from which treat-ment costs must be met (as with full insurers who are themselves gatekeepers …

Persistent link: https://www.econbiz.de/10011511048

Legislation, regulation and litigation : demand for U.S. legal services in historical perspective

Reshef, Ariell; Slattery, Cailin - 2025

during 1850–1970 and after 1990. The relative wage of lawyers and law firm partners also doubled between 1970 and 1990. We … with this, we find that employment and compensation of lawyers are tightly correlated with federal regulation, fee …-level analysis. Other factors, e.g., changes in lawyers’ quality, industrial composition and technology are not important …

Persistent link: https://www.econbiz.de/10015197274

Medieval universities, legal institutions, and the commercial revolution

Cantoni, Davide; Yuchtman, Noam - 2013

We present new data documenting medieval Europeś "Commercial Revolution" using information on the establishment of markets in Germany. We use these data to test whether medieval universities played a causal role in expanding economic activity, examining the foundation of Germanyś first...

Persistent link: https://www.econbiz.de/10010199411

Is it the gums, teeth or the bite? : effectiveness of dimensions of enforcement in curbing corruption

Capasso, Salvatore; Goel, Rajeev K.; Saunoris, James W. - 2018

Adding a new dimension to determinants of corruption, this paper examines the effectiveness of enforcement in reducing corruption. We compare the influences of latent enforcement (police, judicial, and prosecutorial employment) versus actual enforcement (conviction rates) and enforcing...

Persistent link: https://www.econbiz.de/10011926324

Do judges hate speculators?

Hornuf, Lars; Klöhn, Lars - 2018 - This version: November 18, 2018

decision making. We asked 123 professional lawyers and 247 law students in Germany this question, and they clearly predicted … bias. In another sample of 170 professional lawyers, we found weak support for an anti-speculator bias. This evidence … that a communication problem exists between lawyers and non-lawyers (i.e. between judges and the general public), we find …

Persistent link: https://www.econbiz.de/10011936293

Banks' portfolio of government debt and sovereign risk

Afonso, António; Alves, José; Monteiro, Sofia - 2023

We analyze domestic, foreign, and central banks holdings of public debt for 31 countries for the period of 1989-2022, applying panel regressions and quantile analysis. We conclude that an increase in sovereign risk raises the share of domestic banks' portfolio of public debt and reduces the...

Persistent link: https://www.econbiz.de/10014383613

The Greek debt restructuring : an autopsy

Zettelmeyer, Jeromin; Trebesch, Christoph; Gulati, Mitu - 2013 - This draft: July 5, 2013

The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief - over 50 per cent of 2012 GDP - with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector...

Persistent link: https://www.econbiz.de/10009767344

Credibility for sale

Ntellas, Charēs; Niepelt, Dirk - 2013

We develop a sovereign debt model with official and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to official lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...

Persistent link: https://www.econbiz.de/10009772971

Fiscal delegation in a monetary union with decentralized public spending

Basso, Henrique S.; Costain, James - 2016

In a monetary union, the interaction between several governments and a single central bank is plagued by several sources of deficit bias, including common pool problems. Each government has strong preferences over local spending and taxation but suffers only part of the costs of union-wide...

Persistent link: https://www.econbiz.de/10011434438

The sovereign default problem in the Eurozone : an insurance-based approach

Arnold, Nadjeschda Katharina; Rees, Ray - 2015

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that applying insurance theory is useful. We model risk neutral agents choosing portfolios of government bonds of n countries in a monetary union and other assets. We firstly analyse a...

Persistent link: https://www.econbiz.de/10010533082