(joint with Kai-Uwe Müller and Katharina Wrohlich)The majority of empirical labor supply models used for policy evaluation assumes observed hours of work as revealed preferences of individuals or households. Economic actors maximize their utility by choosing among different bundles of income and leisure. By assumption their choice is not constrained by regulations, institutions, or...
This project has received funding from the European Union’s Seventh Framework Programme for research, technological development and demonstration under grant agreement No. 612774. The SPINTAN project aims at discovering the theoretical and empirical underpins of public intangible policies. It widens previous work carried out by Corrado, Hulten and Sichel including the public sector in their...
The role and influence of the finance minister within the cabinet are discussed with increasing prominence in the theoretical literature on the political economy of budget deficits. It is generally assumed that the spending ministers can enhance their reputation purely with new or more extensive expenditure programs, whereas it is the sole interest of the finance minister to balance the budget. Using ...
Stated survey measures of risk preferences are increasingly being used in the literature, and they have been compared to revealed risk aversion primarily by means of experiments such as lottery choice tasks. In this paper, we investigate educational choice, which involves the comparison of risky future income paths and therefore depends on risk and time preferences. In contrast to experimental settings, ...
This study is motivated by the idea that even though participatory monitoring and evaluation (PM&E) is widely accepted as a tool to manage development programs to be effective, its application is widely constrained by its high start-up resource requirements in terms of both finance and time. However, this paper argues that after the initial investment is made, the payback from using PM&E is much higher ...
Bank liability guarantee schemes have traditionally been viewed as costless measures to shore up investor confidence and prevent bank runs. However, as the experiences of some European countries, most notably Ireland, have demonstrated, the credibility and effectiveness of these guarantees are crucially intertwined with the sovereign's funding risks. Employing methods from the literature on global ...
