Search results for "Endogeneity"
showing 2 items of 52 documents
Explaining local governments' cost efficiency: Controllable and uncontrollable factors
2020
Abstract Efficient and effective management of public resources is essential at all levels of government. This issue has gained momentum due to the strains that affected public sector finances after the onset of the 2007/08 crisis in many countries, particularly in Europe. In this article, we evaluate the influence of environmental variables that affect local government efficiency in one European country, Spain, during the crisis years (2009–2015). To this end, and considering the possible influence of both controllable and uncontrollable factors, we use an approach that is able to analyse their impact across the conditional distribution of performance, and which controls for the (likely) e…
La dollarisation des économies émergentes
2002
Current discussions about dollarization/euroization are built on substitution models and cost/benefits analysis. This working paper aims to go beyond these explanations based on a functionalist definition of money. An institutionalist definition of money advocates analyzing de facto dollarization more broadly as a legitimacy crisis of the unit of account that damages monetary sovereignty and of whom authorities try to check in a kind o f institutional resistance. A macroeconomic definition of money involves questionning full and de jure dollarization consistency with both of principles guiding the monetary economy of production: (1) endogeneity of money; (2) merger between monetary space an…