This study considers how present-biased preferences influence public debt policy when a violation of debt rules is possible. To address this issue, the study extends the framework of Bisin, Lizzeri, and Yariv (American Economic Review 105, (2015), 1711--1737) by allowing for rule breaking with...

Are public contracts less adaptable than private contracts? Using a comprehensive set of contracts for a standard product, we compare procurement contracts in which the procurer is either a public administration or a private corporation. We find that public-to-private contracts feature more...

In the last decade, Italy has experienced a considerable decentralization of functions to the regions. This transformation has been especially relevant for the National Health System that has de facto assumed a federal system design. The federal reform aimed at disciplining public health...

Hartwick’s rule says that as mineral resources are extracted from the ground, investments in productive assets need to be made to leave future generations with as much assets as the present generation. This article examines whether mining in Goa meets Hartwick’s rule, and finds that the...

In competition for access, interest groups provide contributions to a politician and those that provide the highest contributions win access. Groups with access present information that may influence the politician's beliefs about the socially optimal policy. Because equilibrium contributions...