Purpose - The purpose of this paper is to examine a curvilinear effect of legislative constraints on foreign debt. Design/methodology/approach - A cross-sectional, time-series data analysis of 68 developing countries during the period from 1981 to 1999 was performed. Findings - Foreign borrowing...

We study conditions under which optimal policy experimentation can be implemented by a committee. We consider a dynamic bargaining game in which committee members choose to implement either a risky reform or a safe alternative with known returns each period. We find that when no redistribution...

The dissertation includes four studies broadly connected to the causes and consequences of the Global Financial Crisis of 2007-8 from a political economy perspective. Following the intro-duction, Chapter 2 analyzes the political roots of massive foreign reserves accumulation, which has...

This paper explores the early development of three important fiscal institutions faced by U.S. state governments: property tax limits (PTLs), balanced budget rules (BBRs), and the gubernatorial line-item veto (LIV). Specifically, this study attempts to provide historical context for their...

The dissertation includes four studies broadly connected to the causes and consequences of the Global Financial Crisis of 2007-8 from a political economy perspective. Following the intro-duction, Chapter 2 analyzes the political roots of massive foreign reserves accumulation, which has...

The present paper explores the correlation between political systems, and fiscal policies, very much in the footsteps of the seminal work by Roubini and Sachs (1989), thus focusing on the relative dispersion or concentration of political power as the main political characteristic. The principal...

The purpose of this paper is to identify learning in games in experimental economic settings, and apply their results to real multilateral trade negotiations, such as the Doha Development Agenda (DDA) in the World Trade Organizations (WTO). This paper argues that the structure of games including...

This note examines the structure of stationary bargaining equilibria in the nite framework of Anesi (2010). The main result establishes a tight connection between the set of equilibrium absorbing points and the von Neumann-Morgestern solutions: assuming that players are patient, that the voting...

Cover -- I. Einleitung -- 1. Problemstellung -- 2. Forschungsstand -- 3. Methodik -- 4. Aufbau -- II. Angewandter Vetospieleransatz -- 1. Grundmodell -- 2. Forschungsheuristik -- 3. Verbindung und Erweiterung -- III. Bahnstrukturreform -- 1. Handlungssituation -- 1.1. Direkte Vetospieler -- 1.2....

I examine how peremptory challenges, which are vetoes that attorneys may use on prospective jurors, affect jury composition. The purpose of peremptory challenges is to eliminate biased jurors, however I show that under the two most common rules used in the United States peremptory challenges...

A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...

Using data from a laboratory-controlled environment we analyze the decisions of principals to veto the allocations of grossed-up investments proposed by their agents in a modified trust game. We also analyze the changes in the surplus associated with the introduction of empowerment and the...

A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...

A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...

In a laboratory-controlled environment we provide experimental evidence on the effects of transparency (complete over incomplete information) and empowerment on trust (investment by a principal) and trustworthiness (reciprocal behavior of an agent). We implement a simple two-person investment...

This paper studies a noncooperative allocation procedure for coalitional games with veto players. The procedure is similar to the one presented by Dagan et al. (1997) for bankruptcy problems. According to it, a player, the proposer, makes a proposal that the remaining players must accept or...

The funding of social protection has strongly evolved in Bismarckian countries : whereas social protection used to rely on social contributions, since the 1990s most of the new expenditures have been funded through taxation, leading to a more balanced mix in the structure of social protection...

The funding of social protection has strongly evolved in Bismarckian countries : whereas social protection used to rely on social contributions, since the 1990s most of the new expenditures have been funded through taxation, leading to a more balanced mix in the structure of social protection...