Policy making power enables governments to redistribute income to powerful interests in society. However, some governments exhibit greater concern for aggregate welfare than others. This government behavior may itself be endogenously determined by a number of economic, political and...

Existing models of contagious currency crises are summarized and surveyed, and it is argued that more weight should be put on political factors. Towards this end, the concept of political contagion introduced, whereby contagion in speculative attacks across currencies arises solely because of...

How do foreign interests influence the policy determination process? What are the welfare implications of such foreign influence? In this paper we develop a model of foreign influence and apply it to the study of optimal tariffs. We develop a two-country voting model of electoral competition,...

Bureaucracies may set priorities for their workload according to social goals or the desires of concentrated private interests. This paper explores bureaucratic priorities empirically by studying Superfund, the federal program for cleaning up contaminated sites. It examines the amount of time...

We develop and test an economic theory of insurgency motivated by the informal literature and by recent military doctrine. We model a three-way contest between violent rebels, a government seeking to minimize violence by mixing service provision and coercion, and civilians deciding whether to...

This paper provides evidence that daughters make people more left-wing. Having sons, by contrast, makes them more right-wing. Parents, politicians and voters are probably not aware of this phenomenon - nor are social scientists. The paper discusses its economic and evolutionary roots. It also...

Wie lassen sich Glück und Nachhaltigkeit verbinden? Um die gegenwärtige ressourcenintensive Lebensweise zu überwinden, braucht es neue Leitbilder von subjektivem Wohlbefinden, die das gute Leben jenseits von Produktion und Konsum verorten. Die bisherige Debatte um Suffizienz und Postwachstum...

A large theoretical literature argues laws exert a causal effect on norms. This paper is the first to provide a clean empirical test of the proposition. Using an incentivized vignette experiment, we directly measure social norms relating to actions subject to legal thresholds. Results from three...

Nachhaltige Entwicklung ist zu einem verankerten Leitbild in Politik, Wirtschaft, Wissenschaft und Öffentlichkeit geworden, welches die Diskussionen über die künftige Entwicklung der Menschheit bestimmt. Es geht im Kern um die Suche nach einem gerechten Zivilisations- und Wirtschaftsmodell,...

Introduction / Rosemarie Fike, Stefanie Haeffele, and Arielle John -- Irrationality is not unreasonable : behavioral economics, rationality, and implications for public policy / Mario J. Rizzo -- What is a nudge? / Jeffrey Bristol -- Why nudges should be local and decentralized / Katarina Hall...

This book examines selected actions and investments of the European Central Bank (ECB) from a climate and sustainability standpoint. Shedding new light on the topic from various angles - ethical, philosophical, political, economical and legal - it situates sustainability mainstreaming in the...

This article examines the historical progress of Australian climate change policy. The article in particular examines several interesting and significant aspects of Australian climate law highlighting governmental approaches and processes leading to the introduction of those laws. The historical...

Where do we stand when it comes to Sustainable Financial Markets? -- Ethical Standards beyond Monetary Policy: Approaches to a Philosophical Foundation -- Fundamental rights in the core business of the ECB: No issue?! Experience with the EU petition 429/2017 -- On the role of the ECB in...

We develop a general equilibrium model of government policy choice in which stock prices respond to political news. The model implies that political uncertainty commands a risk premium whose magnitude is larger in weaker economic conditions. Political uncertainty reduces the value of the...

Introduction -- Prologue -- True believer -- Flim-flam man -- On her own -- An association -- Contract with the devil -- Fertile ground -- Power play -- The whistle -- The World -- Damage control -- Shock waves -- Flight -- End game -- Epilogue.

Prices for emission allowances in Europe's Emissions Trading System (ETS) have remained low for many years. This has given rise to controversies on whether there is a need for a fundamental reform of the ETS. Potential reform proposals include the introduction of a price floor for certificates...

Europa ist ein langfristiges Erfolgsmodell, weist aber seit der Finanzkrise ein niedriges Wachstum und eine erhöhte Arbeitslosigkeit auf. Die Einkommensdifferenzen sind zudem hoch. Europa hält sich auch nicht an seine geplante längerfristige Strategie. Die Notwendigkeit einer immer stärkeren...

Familienpolitik kann einen zentralen Beitrag zur wirtschaftlichen und gesellschaftlichen Entwicklung eines Landes leisten. Allerdings lassen sich nur schwer Aussagen darüber treffen, wie der familienpolitische Rahmen konkret ausgestaltet sein sollte, um optimale Ergebnisse zu erzielen. Daher...

Die DAS formuliert Ziele im Kontext der ressortübergreifenden Strategie bislang sehr allgemein, was die Akzeptanz erhöht und die Übertragung auf spezifische Handlungskontexte erleichtert. Dies stellt jedoch eine Herausforderung für die Bewertung der Anpassungsfortschritte dar. Die Aufgabe...

As Hacker and Pierson (2010) have observed, politics is primarily organization: "organized combat." To understand the outcomes of politics, we have to look at how it is organized over time: by whom and with what resources? I take Sweden as an example of how politics as organized combat has...

In den letzten Dekaden hat sich ein Modell der Technologie- und Innovationspolitik durchgesetzt, das auf vernetzte Projekte, Zusammenarbeit von Unternehmen, Wirtschaft und Staat (Triple Helix), auf wissenschaftliches Wissen und technische Innovationen setzt. Dieses Modell wird seit einigen...

The EU's Emissions Trading System (EU ETS) is a regional cap-and-trade program in a world with no binding international climate agreement. This climate regulation may induce a relocation of production away from Europe, with potentially negative consequences for the European economy. This...

The European Union Emission Trading Scheme (EU ETS) has been implemented to provide a common climate policy instrument across European Union countries, to contribute to a credible investment perspective for low-carbon investors and support further European integration of energy markets. Thus the...

We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment and entry decisions in the context of international trade. When market entry costs are sunk, policy uncertainty can create a real option value of waiting to enter foreign markets...

This review paper articulates the relationship between prediction market data and event studies, with a special focus on applications in political economy. Event studies have been used to address a variety of political economy questions from the economic effects of party control of government to...

We develop a general equilibrium model of government policy choice in which stock prices respond to political news. The model implies that political uncertainty commands a risk premium whose magnitude is larger in weaker economic conditions. Political uncertainty reduces the value of the...

The literature on congressional committees has largely overlooked the impact of jurisdictional fights on policy proposals and outcomes. This paper develops a theory of how legislators balance the benefits of expanded committee jurisdiction against preferred policy outcomes. It shows why a)...

This paper attempts a normative assessment of the input and output-oriented legitimacy of the present euro-rescuing regime on the basis of policy analyses examining the causes of present crises, the available policy options, and the impact of the policies actually chosen. Concluding that the...