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self-fulfilling multiple equilibria arise. I analyze the implications of this fragility for the governance of the Eurozone …. I conclude that the new governance structure (ESM) does not sufficiently recognize this fragility. Some of the features … equilibria ; governance …
Persistent link: https://www.econbiz.de/10009127607
quality of governance) and the degree of market segmentation (depending on the level of ethnic fractionalization). The model …
Persistent link: https://www.econbiz.de/10010424751
towards the powers that be; thus corruption is a method of governance. We trace the systemic corruption back to the Mongolian …
Persistent link: https://www.econbiz.de/10011789215
We test whether two key elements of the EU and euro area economic governance framework, the Stability and Growth Pact … governance pillars is evaluated based on both the performance before and after their application as well as against the control …
Persistent link: https://www.econbiz.de/10011605390
Do budget institutions play a role in explaining why government effectiveness is higher in some advanced countries than in others? Employing an original panel dataset that spans four different years (1991, 2003, 2007 and 2012) we find that budget centralization has a negative and significant...
Persistent link: https://www.econbiz.de/10011568824
Over 10 years ago, Feld and Voigt (2003) introduced the first indicator for objectively meas-uring the actual independence of the judiciary and demonstrated its utility in a large cross-section of countries. The indicator has been widely used, but also criticized. This paper pre-sents more...
Persistent link: https://www.econbiz.de/10010417470
between public and private blockchains, because their economic properties are contrasted. Moreover, governance issues in …
Persistent link: https://www.econbiz.de/10011794645
This paper studies the role of governments and its link to trust. We argue that the public's trust strongly depends on governments delivering on their core tasks in a market economy. In some economies, a neglect of core tasks can be observed and there seems to be some erosion, notably in terms...
Persistent link: https://www.econbiz.de/10011825240
This paper examines how managers at the top of a public institution, central bank executives, allocate their working time. Using detailed information from personal diaries of the six members of the European Central Bank's Executive Board over a period of two years, we codify and analyze more...
Persistent link: https://www.econbiz.de/10011962284
information and enforcement. I obtain conditions under which private governance can improve upon no governance, and examine why it …
Persistent link: https://www.econbiz.de/10011400856