Even though high penalties for corruption offences have a deterrent and preventive effect, they also entrap bribe-takers and bribe-givers in their corrupt relationship. Moreover, pending penalties can be misused to make threats against opportunistic behavior and can thus stabilize risky bribe...

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It...

Corrupt arrangements are characterized by a high risk of opportunism: double-dealing, whistle-blowing and extortion are significant uncertainties for participants in corrupt transactions. This paper demonstrates how legislators may use an asymmetric design of (criminal) sanctions and leniency...

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It...

Even though high penalties for corruption offences have a deterrent and preventive effect, they also entrap bribe-takers and bribe-givers in their corrupt relationship. Moreover, pending penalties can be misused to make threats against opportunistic behavior and can thus stabilize risky bribe...

Die Geldnachfrage (relativ zum Inlandsprodukt) erhöht sich bei einem Anstieg des Vermögens, bei einer erhöhten "monetization" und einer vertieften Arbeitsteilung. In einer Querschnittsanalyse von 126 Ländern zeigt diese Studie, dass der Anteil der Landwirtschaft, die Lebenserwartung, der...

Psychology has inspired economics to recognize intentions in addition to outcomes as being relevant for utility and behavior. Reciprocal behavior, in particular, has been related to the kindness of chosen actions and how kindness can be derived from the benefits obtained in unchosen...

The ratio of money demand to GDP may increase with portfolio demand, monetization, and a deeper division of labor. Using a cross-section approach to money demand for 126 countries this study shows that the share of agriculture, life expectancy at birth, openness, and trust in the banking system...