Die Europäische Union (EU) greift im Rahmen ihrer Gemeinsamen Außen- und Sicherheitspolitik (GASP) verstärkt zu autonomen Finanzsanktionen, um auf weltweite Krisen und Konflikte im Sinne eigener Zielsetzungen umgehend zu reagieren. Der vermehrte Einsatz dieses wichtigen Instruments im...

Interest groups pay monetary contributions to gain access and provide information to a policymaker. If their interests are aligned with those of the policymaker's constituency, they have costless access and report their private information truthfully. If their interests conflict, they are forced...

Businesspeople sigh, Can’t the university be more like business. The faculty complain about business values crowding out academic values. The truth, I contend, lies in the muddy middle. In some respects the university is becoming more like business, and in other respects business is becoming...

Empirical studies of central bank independence and inflation identify Japan as an outlier. By standard measures, the Bank of Japan is one of the least independent central banks in the world, and yet Japan enjoys some of the lowest inflation rates. This paper develops a model of monetary link;...

In this article, the author extends the basic repeated prisoners' dilemma to allow for the linkage of punishment strategies across issues (issue linkage) as well as decentralized third-party enforcement (player linkage). The concepts of issue and player linkage are then synthesized to develop...