This technical assistance report outlines the current state and future objectives for regulating crypto assets in the Republic of Kenya. The report, prepared at the request of Kenya's Capital Markets Authority, involved an analysis of crypto-asset activities and the related regulatory framework....

This paper studies how legislative institutions shape distributive policy outcomes. Specifically, I analyze the effect of budget committee membership in the German Bundestag using a novel dataset of 4,629 geocoded federal grants (1999- 2023). Employing a within-legislator...

Delaware is widely regarded as the global capital of corporate law and the leader in attracting incorporations. Its dominance is often attributed by legal scholars to its expert judiciary and reliance on judicial decision-making to develop corporate norms. Until recently, the prevailing view has...

We develop a strategy to measure the economic costs of poorly written laws, a potential threat to the rule of law. Using the full corpus of Italian legislation, we show that legal uncertainty - measured by the probability of disagreement between the Supreme Court of Cassation and lower courts -...

Die im Grundgesetz verankerte Schuldenbremse gilt unmittelbar auch für die Bundesländer. Daher ist es im Grundsatz naheliegend, die Regelungen in die Landesverfassung des Landes Nordrhein-Westfalen zu übernehmen, wie es ein Antrag der FDP-Fraktion vorsieht. Der Gesetzentwurf der FDP-Fraktion...

This paper examines the impact of marginal changes in municipal council size on the diversity of candidates and elected councilors in Brazil, focusing on age, gender, race, and educational attainment. Understanding how institutional changes affect representation is crucial for assessing the...

In Brazil, the debate on the role of parliamentary amendments (PAs) in federal funding for the Unified Health System (SUS) has gained prominence in recent years due to the increase in allocated amounts and the potential consequences for public access to health services, given the system's...

We theoretically investigate how the application of unanimity rule can lead to inefficient delay in collective decision making. We do so in the context of a distributive multilateral bargaining model featuring strategic pre-commitment. Prior to each bargaining round, players can declare a...

The study examines the extent to which the Legislative Branch is involved in the processing of economic policies sent by the Executive Branch, as part of the process of political delegation. It argues that, as the PT administrations adopted a developmentalist economic paradigm, increasing the...

We theoretically investigate how the application of unanimity rule can lead to inefficient delay in collective decision making. We do so in the context of a distributive multilateral bargaining model featuring strategic pre-commitment. Prior to each bargaining round, players can declare a...

In Brazil, the debate on the role of parliamentary amendments (PAs) in federal funding for the Unified Health System (SUS) has gained prominence in recent years due to the increase in allocated amounts and the potential consequences for public access to health services, given the system's...

The study examines the extent to which the Legislative Branch is involved in the processing of economic policies sent by the Executive Branch, as part of the process of political delegation. It argues that, as the PT administrations adopted a developmentalist economic paradigm, increasing the...

Am 21. April 2023 wurde das Gesetz zum Neustart der Digitalisierung der Energiewende (GNDEW), eingebracht von den Fraktionen Bündnis 90/ Die Grünen, der SPD sowie der FDP und federführend entwickelt vom Bundesministerium für Wirtschaft und Klimaschutz (BMWK), vom Bundestag, verabschiedet....

This collection of studies, prepared by the Policy Department C at the request of European Parliament's JURI Committee, indicates that better EU legislation and regulation can deliver gains to the European economy of over EUR 2,200 billion, while even selected sectorial legislation can deliver...

Das Forschungsprojekt "Bürokratiekosten" erstreckt sich über vier Bände zu vier verschiedenen Regulierungen. Teil 4 widmet sich der Datenschutzgrundverordnung. Hier wurden die erforderlichen Angaben in vier Mitgliedsländern der EU untersucht und die ökonomischen Kosten in der...

Objective This paper considers the influence of female legislators on gun legislation across US states. Females have behavioral differences from males and likely different exposure to gun-related violence. Method Using data from 1991-2020, we econometrically estimate the drivers of gun...

Objective: This paper considers the influence of female legislators on gun legislation across US states. Females have behavioral differences from males and likely different exposure to gun-related violence. Method: Using data from 1991-2020, we econometrically estimate the drivers of gun...

Mit dem Gesetzentwurf für eine "Modernisierung des Vergaberechtes" möchte die Landesregierung von Mecklenburg-Vorpommern sicherstellen, dass zukünftig nur noch solche Unternehmen öffentliche Aufträge erhalten, die bei der Auftragsdurchführung ihren Beschäftigten mindestens die Löhne und...

We theoretically investigate the effects of strategic pre-commitment in multilateral dynamic bargaining. Each round features a commitment stage in which players can declare that they will reject any proposal giving them less than a self-imposed threshold. Such declarations bind in the ensuing...

Norges Bank has been running a central bank digital currency project since 2016. The project is now in its fourth phase, and as part of this phase an overview will be provided of required legislative amendments linked to the introduction of CBDC. For an overview of Norges Bank's CBDC project,...

Humanity's problem with climate change has been likened to a "tragedy of the commons". If the atmosphere is seen as an open access dump for gasses like CO2 or methane, Garret Hardin's conclusion from 1968: "Freedom in a commons brings ruin to all" is obviously correct. But how do we create a...

This paper presents a model of international trade agreements in which the executive branches of each government negotiate agreements while the legislative branches, subject to political pressure from firms, can disrupt them. Lobbying is in the style of Grossman and Helpman's ‘Protection for...

How can we use the novel capacities of large language models (LLMs) in empirical research? And how can we do so while accounting for their limitations, which are themselves only poorly understood? We develop an econometric framework to answer this question that distinguishes between two types of...

Strategic models of legislative bargaining predict that proposers can extract high shares of economic surplus by identifying and exploiting weak coalition partners. However, strength and weakness can be difficult to assess even with relatively simple bargaining protocols. We evaluate...

Political legislation cycle theory predicts that legislators maximize their re-election probabilities by approving laws in the interest of voters before the elections and satisfying lobbies’ demands at the beginning of legislatures. Discrimination in time and visibility of the legislative...