Policy-Development Monopolies: Adverse Consequences and Institutional Responses

Entrepreneurship and China: History of Policy Reforms and Institutional Development

Institutional Development Charles E. Eesley 7-10-2009 "The storm center of the world has shifted . . . to China, whoever understands that mighty Empire . . . has a key to world politics for the next five hundred years." --U.S. Secretary of State John Hay, 1899 China is like a sleeping giant. And when she awakes, she shall astonish the world. --Napoleon Bonaparte, 1803 One of the greatest untold...

Sex-ratio imbalance in Asia: Trends, consequences and policy responses

A distinctive dimension of Asia’s recent population dynamics has been its unexpected “masculinisation” – the increasing proportion of males in its population. While the sex ratio of almost all other populations in the world tends to gradually diminish, as a result of increased life expectancy favourable to women, the proportion of boys in Asia’s population of children started to rise during the...

Adverse consequences of adverse selection.

Welcome Policy Uncertainty and Informational Monopolies : The Case of Monetary Policy

1 Wisconsin-Madison, respectively. We would like to thank NSF for providing financial support for this research. Part of this work was done when both authors visited the Bank of Portugal, which provided a stimulating research environment. We also thank seminar participants at several universities for their comments, and John Kennan and Tom Sargent for many useful conversations on these topics.

Institutional Changes: Alternative Theories and Consequences for Institutional Design

This paper surveys alternative approaches to the emergence and evolution of institutions. The challenge is to develop frameworks capable of capturing both stability and change. We follow a “descaling” approach to show how founding assumptions about economics—namely, alternative assumptions about individual rationality and the role of social efficiency— influence our understanding of the drivers...