We study ex post information rents in sequential screening models where the agent receives private ex ante and ex post information. The principal has to pay ex post information rents for preventing the agent to coordinate lies about his ex ante and ex post information. When the agent's ex ante...

We study the political economy of migration policies in oil-rich Gulf countries focusing on two policy dimensions: a) the number of migrants allowed into the country and b) the assimilation of migrants, where less assimilated migrants on short-term contracts remit more. We develop a two goods...

We study ex post information rents in sequential screening models where the agent receives private ex ante and ex post information. The principal has to pay ex post information rents for preventing the agent to coordinate lies about his ex ante and ex post information. When the agent's ex ante...

A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if it holds, market valuations must follow a random walk; hence, the hypothesis is frequently criticized on the basis of empirical evidence against such a prediction. Yet this reasoning incurs what we...

Renewable resources can provide society with (i) resource rent, (ii) consumer surplus and (iii) worker surplus in resource harvesting. In a dynamic analysis we show that privatization increases the present values of consumer surplus and worker surplus if harvesting costs do not depend on the...

This article deals with the Arab Spring as a process of deep political change in the Arab world, previously the only major world area where authoritarianism persisted unchallenged for decades. While in various countries of the Arab world mass protests in 2011 forced rulers to resign, other...

Through panel estimates using OECD country-industry statistics, this paper aims to clarify the determinants of rent creation and the mechanisms of rent sharing, and the role of market regulations in these processes. The empirical analysis is carried out in two steps. The first explains the rent...

Combining a spatial equilibrium model with a matching unemployment model, this paper analyzes the regional quality of life when wages, rents, and unemployment risk compensate for local amenities and disamenities. In particular, the paper shows for quasi-linear utility that the effects of any...

If a free trade agreement (FTA) is characterized by the exchange of market access with a large and competitive trading partner, the agreement can cause a leakage of protectionist benefits to domestic industry from lobbying against external tariff cuts. This rent destruction effect of an FTA can...

The North and Baltic Sea Grid is one of the largest pan-European infrastructure projects raising high hopes regarding the potential of harnessing large amounts of renewable electricity, but also concerns about the implementation in largely nationally dominated regulatory regimes. The paper...

Dieser Beitrag diskutiert die wettbewerbliche Einschätzung von Nachfragemacht im Handel. Die Bewertung von Nachfragemacht hängt maßgeblich davon ab, ob Beschaffungsmärkte dem Bild des Monopsons mit einer fragmentierten Anbieterstruktur oder dem Bild bilateraler Verhandlungen gleichen. Wenn...

We analyse – theoretically and empirically – how private versus public ownership of firms affects the degree of rent sharing between firms and their workers. Using a particularly rich linked employer-employee dataset from Portugal, covering a large number of corporate ownership changes...

During the past two decades, there has been a shift of significance from the real to the financial sector. This development is often referred to as "financialization". Most industrial countries have experienced a decline in the share of labor income.Based on a review of empirics and literature,...

This paper provides a formal survey of price and quantity instruments for mitigating global warming. We explicitly consider policies' impact on the incentives of resource owners who maximize their profits intertemporally. We focus on the informational and commitment requirements of the...