The paper empirically examines the implementation record of international financial regulation of the banking sector. The study finds that the size of the banking sector and the presence of global systemically important banks (G-SIBs) are positively associated with a stronger implementation...

I investigate a simple model of advance-purchase contracts as a mode of financing costly projects. The analysis can easily be reinterpreted as a model of the monopolistic provision of excludable public goods under private information. An entrepreneur has to meet some capital requirement in order...

We extend the literature on local income tax competition by allowing for inter-jurisdictional spillovers and imperfect rivalry in consumption of a publicly provided good. Comparing decentralized second-best results of a theoretical model with an efficient benchmark, we identify three...

Empirical evidence suggests that charitable contributions to public goods may be driven not only by the familiar warm-glow of giving motive but also as a means for businesses to signal high product quality. Building on this finding, we present an analytical framework that characterizes the...

Since Olson's (1965) The Logic of Collective Action, the exploitation hypothesis, in which the rich shoulders the provision burden of public goods for the poor, has held sway despite empirical exceptions. To address such exceptions, we establish two alternative exploitation hypotheses based on...

This paper develops a theoretical explanation why it may be optimal for higher-level governments to pay categorical block grants or closed-ended matching grants to local governments. We consider a federation with two types of local governments which differ in the cost of providing public goods....

In a public good economy the distribution of initial income is an important determinant of how many individuals contribute to the public good. For the case when all individuals have identical preferences in this paper a simple formula is derived that describes the proportion of all income...

To examine the effect of group size on the stability of prosocial behavior we used standard one-shot public good experiments with two and four subjects, which were conducted repeatedly three times at intervals of one week. Partner and stranger treatments were employed to control for group...

This paper analyzes the effects of an income splitting system on marriage partners. The focus is on the time allocation, on investment in marriage-specific human capital and on the distribution of income within the family. Two insights are discussed in detail. First, the distribution of...