The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its … externalities. This is not only because debt relief that expands the availability of current resources has positive direct income …

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

This paper analyzes the impact of network externalities on Ramp;D competition between an incumbent and a potential … the presence of network externalities. By choosing compatible network goods, firms do not necessarily reduce the Ramp …