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The No Surcharge Rule and Card User Rebates:Vertical Control by a Payment Network
No Surcharge Rule Payment Networks Card User Rebates Vertical Control
2015/9/23
The No Surcharge Rule (NSR) precludes merchants from charging higher prices to consumers who pay by card instead of other means (‘cash’). We analyze the NSR’s effects when a payment network faces loca...
The Swedish Investment Funds System as a Stabilization Policy Rule
Wage Rigidity Unemployment
2015/8/5
There are a number of reasons for this new emphasis. Increased
attention to expectations has led to the need to specify future as well as
current policy actions and hence to the specification of pol...
The Policy Rule Mix: A Macroeconomic Policy Evaluation
Policy Rule Mix Macroeconomic Policy
2015/8/4
This draft was prepared for the Robert A. Mundell Festschrift
Conference, organized by Guillermo Calvo, Rudi Dornbusch, and Maury
Obstfeld and held at the World Bank, Washington, D.C., October 24, 1...
A number of years ago I proposed a simple rule as a guideline for
monetary policy.1 I made no suggestion then that the rule should be
written into law, or even that it be used to monitor policy, or ...
Should the Monetary Policy Rule Be Different in a Financial Crisis?
Financial Crisis Monetary Policy Rule
2015/7/23
It’s a pleasure to read and discuss this very nice and well-written paper by NikolskoRzhevskyy, Papell and Prodan. Let me begin with a summary of what the paper does, and then
discuss some of the is...
Divide and Rule or the Rule of the Divided? Evidence from Africa
Ethnicity Characteristics Development Economics Geography Government and Politics Africa
2015/4/24
We investigate jointly the importance of contemporary country-level institutional structures and local ethnic-specific pre-colonial institutions in shaping comparative regional development in Africa. ...
The Cost of Property Rights:Establishing Institutions on the Philippine Frontier Under American Rule,1898-1918
Governing Rules Regulations and Reforms Rights Property Business and Government Relations
2015/4/22
We examine three reforms to property rights introduced by the United States in the Philippines in the early 20th century: the redistribution of large estates to their tenants, the creation of a system...
The Cost of Property Rights:Establishing Institutions on the Philippine Frontier Under American Rule,1898-1918
Property Ownership Rights Governing Rules Regulations and Reforms Cost History Philippines United States
2015/4/22
We examine three reforms to property rights introduced by the United States in the Philippines in the early 20th century: the redistribution of large estates to their tenants, the creation of a system...
Carbon Emission: Invalid Strategy and Ecological Rule
Carbon Emission CCS Strategy World Population Ecological Rule
2013/2/25
Carbon emission is a problem of global concern because it scares humanity’s living. While CCS (carbon capture and sequestration/storage) strategy received global attention, some scholars argued that t...
Natural resource economics under the rule of Hotelling
extraction costs natural resource stocks natural resource
2011/10/4
Natural resource stocks held in situ are physical assets. Equilibrium in the assets market requires that their rates of return be such that their owners are just willing to hold on to them rather than...
US–Euro Area Monetary Policy Interdependence: New Evidence from Taylor Rule-based VECMs
monetary policy interdependence European Central Bank the Federal Reserve vector error correction model
2011/8/21
(1227) Ansgar Belke and Yuhua Cui This paper analyses the monetary policy interdependence between the European Central Bank (ECB) and the Federal Reserve (Fed) for the period 1999–2006. Two models are...
Simulating Voting Rule Reforms for the Italian Parliament: An Economic Perspective
Italian Parliament electoral system simulations
2011/6/3
The aim of this paper is to contribute to the debate about the electoral rules in Italy. In particular, we simulate some voting rules to test what is the best electoral system on the basis of a utilit...
Impact of elimination of uptick rule on stock market volatility
uptick rule stock market volatility
2010/10/18
The uptick rule is a former rule established by the SEC that required that every
short sale transaction be entered at a price that is higher than the price of the previous
trade. The purpose of this...
Tax planning: avoiding the rule against perpetuities with foreign-based trusts - why, how and whether
Perpetuities deferred taxes trusts the rule avoiding the rule
2010/10/18
It is not uncommon for the interests and desires of those who plan the disposition
of their estates to become entangled with principles of property and probate law not
originally intended to thwart ...