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Non-cooperative and Cooperative Policy Reforms under Uncertainty and Spillovers
When countries need to implement costly economic policy reforms, these often imply uncertainties about their effectiveness for the home country and their spillovers to other countries. We develop a model to show that under these circumstances countries implement too few or too many policy reform...
সংরক্ষণ করুন:
| প্রকাশিত: | MAGKS - Joint Discussion Paper Series in Economics (Band 07-2017) |
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| প্রধান লেখক: | , |
| বিন্যাস: | প্রবন্ধ |
| ভাষা: | ইংরেজি |
| প্রকাশিত: |
Philipps-Universität Marburg
2017
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| বিষয়গুলি: | |
| অনলাইন ব্যবহার করুন: | পিডিএফ এ সম্পূর্ন পাঠ |
| ট্যাগগুলো: |
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| সংক্ষিপ্ত: | When countries need to implement costly economic policy reforms,
these often imply uncertainties about their effectiveness for the home
country and their spillovers to other countries. We develop a model to
show that under these circumstances countries implement too few or
too many policy reforms. From a social perspective, too many reforms
follow if the spillover effects of reforms become sufficiently uncertain.
Since centralization of policies to correct ineffcient policies is often
not possible, we look for alternative instruments that can restore the
effcient level of reforms. We compare subsidizing reform efforts with
insuring against bad outcomes, and argue that subsidies are advanta-
geous in terms of requiring less information for implementation. |
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| দৈহিক বর্ননা: | 25 Seiten |
| আইএসএসএন: | 1867-3678 |
| ডিওআই: | 10.17192/es2024.0533 |