Design of New Organizations/Institutions
The Global Refunding System and Climate Change, CER-ETH Working Paper Series (2007)
We propose a global refunding scheme as a new international approach to addressing climate change....
Elections, Contracts and Markets (with Markus Müller), CEPR Discussion Paper No. 5717. (2006)
As the performance of long-term projects is not observable in the short run politicians may...
Re-Election Threshold Contracts in Politics (with Verena Liessem), CEPR Discussion Paper No. 5175. (2005)
When politicians are provided with insufficient incentives by the democratic election mechanism, social welfare can...
Democratic Mechanisms: Double Majority Rules and Flexible Agenda Costs, CEPR Discussion Paper No. 5013 (2005)
We develop democratic mechanisms where individual utilities are not observable by other people at the...
Epidemic Diseases, Poverty and Political Institutions
Growth and Enduring Epidemic Diseases (with Clive Bell), CESifo Working Paper Series No. 1729 (2006)
This paper studies the formation of human capital and its transmission across generations when premature...
Transparency and Communication
Voting Transparency in a Monetary Union (with Volker Hahn), CEPR Discussion Paper No. 5155 (2005)
We examine whether the central bank council of a monetary union should publish its voting...
General Equilibrium Theory
When Inefficiency Begets Efficiency (with Hans Haller), Economic Theory (2005)
Collective consumption decisions taken by the members of a household may prove inefficient. The impact...
Awareness of General Equilibrium Effects and Unemployment, CEPR Discussion Paper No. 5012 (2005)
We examine wage bargaining in a two-sector economy when the employers and labor unions in...
Competitive Markets, Collective Decisions and Group Formation (with Hans Haller), CESifo Working Paper Series No. 953 (2003)
We consider a general equilibrium model where groups operating in a competitive market environment can...
Innovation and Spillovers
Endogenous Spillovers and Incentives to Innovate (with Armin Schmutzler), Economic Theory (2003)
We present a new approach to endogenizing technological spillovers. Firms choose continuous levels of a...
Banking and the Macroeconomy
The Optimal Capital Structure of an Economy, CEPR Discussion Paper No. 4016 (2003)
We examine the optimal allocation of equity and debt across banks and industrial firms when...
Climate Change and Environmental Policy
The Global Refunding System and Climate Change, CER-ETH Working Paper Series (2007)
We propose a global refunding scheme as a new international approach to addressing climate change....
Emission taxes and optimal refunding schemes, Journal of Public Economics (2004)
We examine how refunding emission taxes to firms dependent on market shares should be designed....