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La Porta, Rafael; López-de-Silanes, Florencio; … - 2010

Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and … cooperation trust hold up remarkably well on a cross-section of countries …

Persistent link: https://www.econbiz.de/10014222386

Central Banks : Evolution and Innovation in Historical Perspective

Bordo, Michael D. - 2017

Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...

Persistent link: https://www.econbiz.de/10012947026

Kinship, Cooperation, and the Evolution of Moral Systems

Enke, Benjamin - 2017

, cooperation appears to be enforced through universal moral values; internalized guilt; altruistic punishment; and an apparent rise …

Persistent link: https://www.econbiz.de/10012954472

How Modern Dictators Survive : An Informational Theory of the New Authoritarianism

Guriev, Sergei - 2015

We develop an informational theory of dictatorship. Dictators survive not because of their use of force or ideology but because they convince the public—rightly or wrongly—that they are competent. Citizens do not observe the dictator's type but infer it from signals inherent in their living...

Persistent link: https://www.econbiz.de/10013023344

Institutions and Behavior : Experimental Evidence on the Effects of Democracy

Dal Bó, Pedro; Foster, Andrew D.; Putterman, Louis G. - 2021

A novel experiment is used to show that the effect of a policy on the level of cooperation is greater when it is chosen …

Persistent link: https://www.econbiz.de/10013235634

Overcoming the Common Pool Problem Through Voluntary Cooperation : The Rise and Fall of a Fishery Cooperative

Deacon, Robert T. - 2010

We analyze a seldom used, but highly promising form of rights-based management over common pool resources that involves the self-selection of heterogeneous fishermen into sectors. The fishery management regime assigns one portion of an overall catch quota to a voluntary cooperative, with the...

Persistent link: https://www.econbiz.de/10013138469

A Fiscal Union for the Euro : Some Lessons from History

Bordo, Michael D. - 2011

The recent financial crisis 2007-2009 was the longest and the deepest recession since the Great Depression of 1930. The crisis that originated in subprime mortgage markets was spread and amplified through globalised financial markets and resulted in severe debt crises in several European...

Persistent link: https://www.econbiz.de/10013120322

International Liquidity : The Fiscal Dimension

Obstfeld, Maurice - 2011

This paper argues that if policymakers seek to enhance global liquidity, then the international community must provide a higher and better coordinated level of fiscal support than it has in the past. Loans to troubled sovereigns or financial institutions imply a credit risk that ultimately must...

Persistent link: https://www.econbiz.de/10013120324

History, Expectations, and Leadership in the Evolution of Social Norms

Acemoglu, Daron - 2011

We study the evolution of the social norm of "cooperation" in a dynamic environment. Each agent lives for two periods … completely drives equilibrium play, leading to a social norm of high or low cooperation. In intermediate cases, the impact of … leverage their greater visibility to influence expectations of future agents and overturn social norms of low cooperation. We …

Persistent link: https://www.econbiz.de/10013124659

Liaisons Dangereuses : Increasing Connectivity, Risk Sharing, and Systemic Risk

Battiston, Stefano - 2010

We characterize the evolution over time of a network of credit relations among financial agents as a system of coupled stochastic processes. Each process describes the dynamics of individual financial robustness, while the coupling results from a network of liabilities among agents. The average...

Persistent link: https://www.econbiz.de/10013149415