| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4111 |
| DP4111 Optimal Monetary Policy Under Commitment with a Zero Bound on Nominal Interest Rates | |
| Klaus Adam; Roberto M Billi | |
| 发表日期 | 2003-11-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | In this Paper we provide a strategic explanation for the spontaneous convergence of legal rules, which nevertheless falls short of harmonization across jurisdictions. We identify a free-riding problem and discuss its implications for legal culture, integration, and harmonization. It is argued that harmonization of legal rules by a central authority in order to generate a uniform legal culture could be the response to a coordination failure. It could also be a serious policy mistake, however, leaving everybody worse off. The result depends crucially on the relative benefits and costs of importing and integrating different legal orders. |
| 主题 | Public Economics |
| 关键词 | K00 Legal transplant Game theory Harmonization |
| URL | https://cepr.org/publications/dp4111 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533086 |
| 推荐引用方式 GB/T 7714 | Klaus Adam,Roberto M Billi. DP4111 Optimal Monetary Policy Under Commitment with a Zero Bound on Nominal Interest Rates. 2003. |
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