Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/162653 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
MAGKS Joint Discussion Paper Series in Economics No. 07-2017
Verlag: 
Philipps-University Marburg, School of Business and Economics, Marburg
Zusammenfassung: 
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 inefficient policies is often not possible, we look for alternative instruments that can restore the efficient level of reforms. We compare subsidizing reform e orts with insuring against bad outcomes, and argue that subsidies are advantageous in terms of requiring less information for implementation.
Schlagwörter: 
policy reforms
spillovers
policy uncertainty
free-riding
subsidy
insurance
JEL: 
F55
H70
O30
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
338.85 kB





Publikationen in EconStor sind urheberrechtlich geschützt.