This study provides evidence of a strong link between two channels facilitating rentextraction in public procurement: between concealing the ultimate ownership of contractors and manipulation of the anticipated value of tenders. Using data on more than 15 300 tenders awarded to joint-stock...

We study price discrimination in a monopolistic software market. The monopolist charges different prices for the upgrade version and for the full version. Consumers are heterogeneous in taste for infinitely durable software and there is no resale. We show that price discrimination leads to a...

The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...

Economies have markedly different firm size distributions. At the same time, firms of different size grow differently after identical financial- and product-market liberalization reforms. Thus, identical reforms can produce different growth outcomes across countries. This result is reached after...

This paper examines the extent to which financial signaling affects the analysts' and managers' forecast releases. The findings give evidence of heterogeneity of analysts' forecast errors between firms with strong financial indicators (high signal group), weak financial indicators (low signal...

The stability of many post-conflict societies rests on the successful reintegration of former soldiers. We use an experimental approach to study reintegration in Northern Uganda and examine behavior of former soldiers together with the behavior of receiving communities towards this group. We...

The Anglo-American double-member districts employing plurality-at-large are frequently criticized for giving a large majority premium to a winning party. In this paper, we demonstrate that the premium stems from a limited degree of voters' discrimination associated with only two positive votes...

The foreign direct investment (FDI) and its impact on performance of domestic firms has been studied in many empirical papers, which, however, present rather ambiguous results. I argue that this is due to some limitations of prevalently used methodology, which does not separate the FDI spillover...

This paper studies the effects of financial intermediation on aggregate levels and the distribution of resources in an economy with wealth-constrained heterogeneous agents and occupational choice. Whether an agent becomes an entrepreneur depends on a realized entrepreneurial ability and...

This paper deals with export credit promotion in the Czech Republic. The development and structure of Czech trade and export support is presented first. This is followed by an econometric analysis of the gravity model of Czech trade. A panel of 160 countries in 1996–2008 is analyzed and two...