7,508 research outputs found

    Theoretical Aspects of Collective Decision Making - Survey of the Economic Literature

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    The article aims at surveying the economic literature related to collective decision making. In order to do so it proposes a coherent framework allowing for a structured analysis of the factors influencing the works of a committee. These factors are divided into external ( shaped outside of the committee e.g. by law) and internal ones (related to the composition of the committee and interactions between its members). The survey of the general economic literature related to collective decision making presented within the proposed framework yields interesting suggestions for further research, including the consequences for the shape of monetary policy committeesArtyku艂 ma na celu dokonanie przegl膮du literatury ekonomicznej z zakresu kolektywnego podejmowania decyzji. W tym celu zaproponowano ramy pozwalaj膮ce na ustrukturyzowan膮 analiz臋 czynnik贸w wp艂ywaj膮cych na prac臋 organu kolektywnego (rady). Dokonano podzia艂u tych czynnik贸w na zewn臋trzne (tzn. kszta艂towane poza sam膮 rad膮, np. przez wymogi prawne) oraz wewn臋trzne (zwi膮zane ze sk艂adem rady oraz interakcjami mi臋dzy jej cz艂onkami). Dokonany w ramach zaproponowanej struktury przegl膮d literatury og贸lnoekonomicznej dotycz膮cej kolektywnego podejmowania decyzji pozwala na zaproponowanie interesuj膮cych kierunk贸w dalszych bada艅, w tym konsekwencji dla kszta艂tu rad polityki pieni臋偶nej

    Crises and Tax

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    How can law best mitigate harm from crises like storms, epidemics, and financial meltdowns? This Article uses the law and economics framework of property rules and liability rules to analyze crisis responses across multiple areas of law, focusing particularly on the ways the Internal Revenue Service (IRS) battled the 2008鈥09 financial crisis. Remarkably, the IRS鈥檚 responses to that crisis cost more than Congress鈥檚 higher-profile bank bailouts. Despite their costs, many of the IRS鈥檚 responses were underinclusive, causing preventable layoffs and foreclosures. This Article explains these failures and demonstrates that the optimal response to crises is to shift from harsh property rules to compensatory liability rules, temporarily. Arranging such a shift in advance further mitigates harm when crises arrive. This analysis also provides new insights for the broader literature on property rules and liability rules. For example, arranging in advance for temporary moves to liability rules during crises can avoid windfalls, allow speedier relief, and encourage flexible private contracts. These lessons have practical applications in areas as far afield as how constitutional law and patent law respond to epidemics

    Gamma-Ray Bursts in the SALT/Swift Era: GRB/SN Connection

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    I discuss the Gamma Ray Burst research in the era of SALT and Swift, concentrating on the GRB/SN connection.Comment: Invited talk at the First International Workshop on ``Stellar Astrophysics with the World Largest Telescopes'', Torun, Poland, 7-10 September 2004. 12 pages, 6 figures. See http://cfa-www.harvard.edu/cfa/oir/Research/GRB/ for related material