Browse by title

You are looking at 1 - 10 of 11 items :

  • Politics and Public Policy x
  • Regulation and Governance x
  • Public Finance x
  • Economics and Finance x
  • All accessible content x
  • Chapters/Articles x
Clear All Modify Search
This content is available to you

Sara Valaguzza and Eduardo Parisi

This content is available to you

Sara Valaguzza and Eduardo Parisi

Open access

Edited by Gita Steiner-Khamsi and Alexandra Draxler

This content is available to you

Massimo Florio

Some regulatory reforms cannot be simply described by the change of a microeconomic signal, or macroeconomic instrument, leading to a specific marginal effect on social welfare. Rather, they should be represented by packages shifting a policy framework. The aim of this chapter is to discuss the theoretical foundations of the evaluation of policy framework reforms in network industries. Some potential interpretational pitfalls are identified and some guidance on carrying out econometric analyses is provided. Since the use of categorical variables has become widespread in the empirical evaluation of such reforms, methodological issues and conceptual errors that might be introduced when building numerical proxies of reforms are discussed. Some of these issues are key for the correct assessment of reforms and hence for formulating coherent policy recommendations.

This content is available to you

Edited by Massimo Florio

This content is available to you

Ana Rosa Ribeiro de Mendonça and Simone Deos

The authors emphasize an overlooked raison d’être for public banks. They argue that limiting public banks to filling the gaps left by private banks, the standard argument in economics, neglects a very important dimension of public banks, that is, their capacity to act countercyclically and thereby stabilize access to credit during economic downturns. Taking a cue from Hyman Minsky, they point to the immanent volatility of financial markets dominated by private actors. In order to counter destabilizing tendencies, the presence of institutions with the logic of action that differs from that of the market is necessary. As public banks are not primarily concerned with profitability, they can play this role. To a certain extent, their presence in the market is an automatic stabilizer because public banks provide credit with long maturation. In times of crisis, they can also be used for discretionary intervention, that is, opening up new credit lines.

This content is available to you

Christoph Scherrer

This content is available to you

Susan L. Robertson, Karen Mundy, Antoni Verger and Francine Menashy

This content is available to you

Valerie Braithwaite

This content is available to you

Valerie Braithwaite