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Institutional & Transition Economics Policy Paper Series最新文献

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European Union of Nuts 欧洲坚果联盟
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-12-07 DOI: 10.2139/ssrn.2364825
Krzysztof Rybiński
{"title":"European Union of Nuts","authors":"Krzysztof Rybiński","doi":"10.2139/ssrn.2364825","DOIUrl":"https://doi.org/10.2139/ssrn.2364825","url":null,"abstract":"This brief concept paper proposes a far-reaching institutional reform of the European Union. All EU regions in NUTS1 classification should have local presidential and parliamentary elections. All elected presidents will form the new EU Council with 97 members. This will be the new EU parliament. Then Council members will elect among themselves the EU Executive Board, which will be the EU government. The existing EU bodies: the Commission, Council, Presidency and Parliament will cease to exist. The new EU Council and the EU Executive Board will have a wide range of competences to design and implement EU-wide policies.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133210159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Implications of History for the Current Policies and Industrial Structure: The Case of Indian Textile Sector 历史对当前政策和产业结构的启示:以印度纺织业为例
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-11-20 DOI: 10.2139/ssrn.2358020
G. Narayanan
{"title":"Implications of History for the Current Policies and Industrial Structure: The Case of Indian Textile Sector","authors":"G. Narayanan","doi":"10.2139/ssrn.2358020","DOIUrl":"https://doi.org/10.2139/ssrn.2358020","url":null,"abstract":"As an attempt to address the gap in the literature on linking the history of textile industry in India to the current policies and structure of the industry, this paper develops a synthesis of various studies that discuss about the historical and contemporary issues in Indian textile industry. Based on this review, we arrive at two major links between the past and the present that are relevant even in the 2010’s. Firstly, the continuity from the past of small scales of production in several subsectors of textile industry may have impeded its competitiveness and growth, though this has promoted the cause of common people who evolve as small-scale entreprenuners. This scenario has been rapidly changing, paving way to large-scale production. Secondly, the discontinuity from the past in terms of negligence of time-tested technologies that were less polluting by design, has led to increased pollution, which in turn, has resulted in closure of factories. Here, there is immense scope for Indian textile sector to learn from the past for survival and further growth in a sustainable way.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129947456","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Oil and Gas Revenue Management in Azerbaijan 阿塞拜疆的石油和天然气收入管理
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-11-02 DOI: 10.2139/ssrn.3104106
G. Ibadoghlu, Kamil Alasgarov, G. Bayramov
{"title":"Oil and Gas Revenue Management in Azerbaijan","authors":"G. Ibadoghlu, Kamil Alasgarov, G. Bayramov","doi":"10.2139/ssrn.3104106","DOIUrl":"https://doi.org/10.2139/ssrn.3104106","url":null,"abstract":"This policy paper is an assessment of the current situation in management of oil revenues in Azerbaijan in order to find solutions for improving it. This policy paper is the result of research conducted by the research team of Economic Research Center with the financial support of Revenue Watch Institute in 2013. In the paper, analysis was carried out on the macroeconomic environment, fiscal rules and legal bases for the management of oil revenues in Azerbaijan, policy of the management of oil revenues was evaluated, assessment was done on participation of policy makers, especially national oil fund, in the decision-making process on the management of oil revenues, and their influences. In some instances, the comparative analysis of superior and inferior features of oil revenues management was done taking Kazakhstan and Norway as the reference countries. The main aim of this policy paper is to assess the current situation of management of oil revenues in Azerbaijan, unfold its weaknesses and strengths, identify key problems and prepare alternative policies for solution of these issues. The first part gives the general assessment by describing Azerbaijan’s revenue management system; the second part diagnoses the problems; the third part analyzes the problems created by the inefficiencies in the legislative system; and the fourth part describes four possible futures depending on the choices taken today. This paper does not just diagnose the problem; it also offers solutions. It suggests specific fiscal rules that could be adopted by the Government of Azerbaijan to reduce volatility and improve the quality of public spending. It provides options for enforcing these fiscal rules. And it makes recommendations on improving the credibility of fiscal policy through enhanced transparency and accountability. The readers of this policy paper will be informed about the outcomes of retrospective analysis of oil revenues in Azerbaijan as well as various options in management of oil revenues within the scope of current and perspective opportunities.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131831033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Informal Economy in Albania 阿尔巴尼亚的非正规经济
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-10-01 DOI: 10.2139/ssrn.2434572
Merita Toska, Giuseppe Torluccio
{"title":"Informal Economy in Albania","authors":"Merita Toska, Giuseppe Torluccio","doi":"10.2139/ssrn.2434572","DOIUrl":"https://doi.org/10.2139/ssrn.2434572","url":null,"abstract":"The main purpose of this paper is to assess the size of the informal sector of the economy in Albania by using indirect approaches: national accounts discrepancies, simple currency ratio, electrical energy consumption and some evidence by the labor market developments. A few studies have attempted to estimate the size of the informal economy in Albania in the previous years and there’s no evidence of recent estimates of informality (at least they are not publicly available), especially after 2007. Also, there are some other available studies which give some point assessments of informality in Albania but without information on its development over time. Using indirect measurement approaches we found that informality still accounts for a large share to GDP, but, differently from findings in other studies we found lower figures. This may be the result of vast reforms and a formalization process undertaken by the Albanian governments over time. Despite these results, it’s important to highlight the fact that the average ratio of the informal sector of the economy to GDP presents a declining trend over the period 1996-2012.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128400092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
Do Less Stable Borders Lead to Lower Levels of Political Trust? Empirical Evidence from Eastern Europe 边界不稳定会导致政治信任水平下降吗?来自东欧的经验证据
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-10-01 DOI: 10.2139/ssrn.2148773
M. Jancec
{"title":"Do Less Stable Borders Lead to Lower Levels of Political Trust? Empirical Evidence from Eastern Europe","authors":"M. Jancec","doi":"10.2139/ssrn.2148773","DOIUrl":"https://doi.org/10.2139/ssrn.2148773","url":null,"abstract":"This paper examines the effect of historical changes in political borders on culture, specifically levels of trust in political institutions. The identification strategy is to focus on regions that are part of the same country today and, therefore, share the same political institutions, but have had different numbers of border changes in the past. This within-country variation is satisfied for six Eastern European countries – Slovenia, Croatia, Serbia, Montenegro, Romania and Ukraine. Using three independent data sources, this paper shows that indeed more stable political borders do lead to higher levels of political trust. The effect is stronger for older people and individuals who did not move, as predicted by this paper’s framework. Furthermore, frequent border changes could explain 45% of difference in political trust between the UK, which enjoyed stable borders, and the countries studied in this paper. This effect persists even after controlling for a rich set of covariates, undertaking extensive robustness tests and use of geographic instrumental variables.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125460317","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Enforcement of Security Instruments in India 印度安全文书的执行
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-09-21 DOI: 10.2139/ssrn.2329142
S. Sanjeev
{"title":"Enforcement of Security Instruments in India","authors":"S. Sanjeev","doi":"10.2139/ssrn.2329142","DOIUrl":"https://doi.org/10.2139/ssrn.2329142","url":null,"abstract":"The present paper deals with the procedures relating to the enforcement of security instruments in India and also about the issues revolving around it.The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter, “SARFAESI Act”) enacts some very cardinal provisions in India for 3 domains of securitization, resolution of non-performing loans via the asset management route, and, also for enforcing rights vested in a secured creditor.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"63 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129127481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Other-Regarding Principal and Moral Hazard 其他-关于本金和道德风险
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-07-10 DOI: 10.2139/ssrn.2294347
Swapnendu Banerjee, Mainak Sarkar
{"title":"Other-Regarding Principal and Moral Hazard","authors":"Swapnendu Banerjee, Mainak Sarkar","doi":"10.2139/ssrn.2294347","DOIUrl":"https://doi.org/10.2139/ssrn.2294347","url":null,"abstract":"Using the classic moral hazard problem with limited liability we characterize the optimal contracts when an other-regarding principal interacts with a self-regarding agent. The optimal contract differs considerably when the principal is ‘inequity averse’ vis-a-vis the self-regarding case. Also the agent is generally (weakly) better-off under an ‘inequity- averse’ principal compared to a ‘status seeking’ principal.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"325 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115301663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Wall Street’s Bailout Bet: Market Reactions to House Price Releases in the Presence of Bailout Expectations 华尔街的救市赌注:在有救市预期的情况下市场对房价释放的反应
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-02-14 DOI: 10.2139/ssrn.1722796
G. Löffler, Peter N. Posch
{"title":"Wall Street’s Bailout Bet: Market Reactions to House Price Releases in the Presence of Bailout Expectations","authors":"G. Löffler, Peter N. Posch","doi":"10.2139/ssrn.1722796","DOIUrl":"https://doi.org/10.2139/ssrn.1722796","url":null,"abstract":"The rise and subsequent collapse of US house prices was one of the factors underlying the recent financial crisis. One could expect that the crisis brought increased attention to the housing market and thus led to stronger market reactions to house price news. We find that reactions indeed change, but with a peculiar twist: from September 2008 on, good news from the housing market are associated with falling US stock prices, and vice versa. The likely explanation, for which we provide cross-sectional evidence, is that falling house prices increased the market’s trust in a government bailout, thereby increasing market valuations of firms that were expected to benefit from government rescue measures.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123759852","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
A Stochastic Control Approach to No-Arbitrage Bounds Given Marginals, with an Application to Lookback Options 无套利边界的随机控制方法及其在回溯期权中的应用
Institutional & Transition Economics Policy Paper Series Pub Date : 2013-02-01 DOI: 10.1214/13-AAP925
Alfred Galichon, P. Henry-Labordère, N. Touzi
{"title":"A Stochastic Control Approach to No-Arbitrage Bounds Given Marginals, with an Application to Lookback Options","authors":"Alfred Galichon, P. Henry-Labordère, N. Touzi","doi":"10.1214/13-AAP925","DOIUrl":"https://doi.org/10.1214/13-AAP925","url":null,"abstract":"We consider the problem of superhedging under volatility uncertainty for an investor allowed to dynamically trade the underlying asset, and statically trade European call options for all possible strikes with some given maturity. This problem is classically approached by means of the Skorohod Embedding Problem (SEP). Instead, we provide a dual formulation which converts the superhedging problem into a continuous martingale optimal transportation problem. We then show that this formulation allows to recover previously known results about Lookback options. In particular, our methodology induces a new presentation of the Azema-Yor solution of the SEP.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"55 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125379312","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 240
The Inefficiency of Perfect Competition in the Electronic Communications Industry 电子通信行业完全竞争的无效率
Institutional & Transition Economics Policy Paper Series Pub Date : 2012-11-15 DOI: 10.2139/ssrn.2176311
M. Lebourges, François Jeanjean, Claudia Saavedra
{"title":"The Inefficiency of Perfect Competition in the Electronic Communications Industry","authors":"M. Lebourges, François Jeanjean, Claudia Saavedra","doi":"10.2139/ssrn.2176311","DOIUrl":"https://doi.org/10.2139/ssrn.2176311","url":null,"abstract":"Telecommunications industry requires a high and steady level of investments in successive generations of equipments to cope with the exponential growth of traffic volumes. This paper argues that in this context, only imperfections of competition provide market players with the necessary margins to finance the renewal of equipments at the frequency needed to minimize the overall industry cost. A nearsighted policy which would push down the industry profits hoping to reduce prices would be counterproductive as it would have the opposite effect: if profits are reduced below the level needed to sustain the optimal level of investments, production costs would increase, having a negative impact over market prices. Policy should therefore target an optimal competition intensity allowing enough profits to finance this optimal level of investments. The constant reduction of margins in the European telecommunications industry raises an alert for European policy makers: they should be seriously concerned about not overpassing the optimal level of competition.","PeriodicalId":307125,"journal":{"name":"Institutional & Transition Economics Policy Paper Series","volume":"238 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132430284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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