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Electoral Incentives and the Allocation of Public Funds

Finan, Frederico S. - 2016

It is widely believed that politicians allocate public resources in ways to maximize political gains. But what is less clear is whether this comes at a cost to welfare; and if so, whether alternative electoral rules can help reduce these costs. In this paper, we address both of these questions by...

Persistent link: https://www.econbiz.de/10013001344

How Many Educated Workers for Your Economy? European Targets, Optimal Public Spending, and Labor Market Impact

Lebon, Isabelle - 2015

This paper studies optimal taxation schemes for education in a search-matching model where the labor market is divided between a high-skill and a low-skill sector. Two public policy targets – maximizing the global employment level and optimizing the social surplus – are studied according to...

Persistent link: https://www.econbiz.de/10013027745

Capital Prices and Eurozone Competitiveness Differentials

Askenazy, Philippe - 2013

Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour costs or labour-market institutions. This paper explores an additional source of differentials in competitiveness: land and building prices. European countries, especially France,...

Persistent link: https://www.econbiz.de/10013086230

The Effect of Employment Protection Legislation and Financial Market Imperfections on Investment : Evidence from a Firm-Level Panel of EU Countries

Cingano, Federico - 2009

This paper analyzes the joint effect of EPL and financial market imperfections on investment, capital … stronger in firms with lower levels of internal resources. We find that, on average, EPL reduces investment per worker, capital …

Persistent link: https://www.econbiz.de/10013159932

The Productivity Impact of R&D Investment : A Comparison between the EU and the US

Castellani, Davide - 2016

Using data on the US and EU top R&D spenders from 2004 until 2012, this paper investigates the sources of the US/EU productivity gap. We find robust evidence that US firms have a higher capacity to translate R&D into productivity gains (especially in the high-tech industries), and this...

Persistent link: https://www.econbiz.de/10012990873

Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area

Belke, Ansgar Hubertus - 2019

The interest rate represents an important monetary policy tool to steer investment in order to reach price stability …. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank … impact of changes in the interest rate on macroeconomic investment under certainty and under uncertainty to investigate …

Persistent link: https://www.econbiz.de/10012863789

On the Relationship between Public and Private Investment in the Euro Area

Dreger, Christian - 2014

This paper explores the long run relationship between public and private investment in the euro area in terms of … capital stocks and gross investment flows. Panel techniques ac-counting for international spillovers are employed. While … private and public capital stocks are cointegrated, the evidence is quite fragile for public and private investment flows …

Persistent link: https://www.econbiz.de/10013057463

The Asymmetric Experience of Positive and Negative Economic Growth : Global Evidence Using Subjective Well-Being Data

De Neve, Jan‐Emmanuel - 2015

Are individuals more sensitive to losses than gains in terms of economic growth? Using subjective well-being data, we observe an asymmetry in the way positive and negative economic growth are experienced. We find that measures of life satisfaction and affect are more than twice as sensitive to...

Persistent link: https://www.econbiz.de/10013025309

The Social Cost of Unemployment : The Spanish Labour Market from a Social Welfare Approach

Gorjón, Lucía - 2018

This paper proposes a protocol for considering the social cost of unemployment by taking into account three different aspects: incidence, severity and hysteresis. Incidence refers to the conventional unemployment rate; severity takes in both unemployment duration and the associated income loss;...

Persistent link: https://www.econbiz.de/10012909971

Corruption as a Barrier to Entry : Theory and Evidence

Campos, Nauro - 2010

Conventional wisdom depicts corruption as a tax on incumbent firms. This paper challenges this view in two ways. First, by arguing that corruption matters not so much because of the value of the bribe ("tax"), but because of another less studied feature of corruption, namely bribe...

Persistent link: https://www.econbiz.de/10013136941