It is well known that donors pursue different objectives (altruistic or those based on recipient, and donor interests) in granting their aid. This study proposes an innovative tool enables a combination of both types objectives, allowing each (bilateral multilateral) to better understand, optimise target the distribution its ODA according interests parties transaction (donor recipient). uses co...

In this paper, we show both theoretically and empirically that the size of over-the-counter (OTC) markets can be reduced without affecting individual net positions. First, we find that the networked nature of these markets generates an excess of notional obligations between the aggregate gross amount and the minimum amount required to satisfy each individual net position. Second, we show condit...

A deregulated electricity market provides open access to all players. In an open-access power market, the system operator is responsible for ensuring that contracted dispatched. However, if this results in line flows exceed their acceptable range, then it could threaten system’s security. Therefore, checks congestion as flow exceeds its limit. For management, applies different curtailment strat...

In his famous article on “The nature of the firm”, Ronald Coase (1937) sought to answer the question why firms exist, why there are many firms and not just one, why people do not work as individual producers but rather in firms. He suggested that transaction costs could explain the boundaries of the firm and that suggestion later on gave rise to an abundant literature on vertical integration. T...

The OECD BEPS Action 6 report contains a principal purpose test rule (PPT rule) for the purpose of combating abuse of tax treaties. This PPT rule is also included in the OECD Multilateral Instrument. The PPT rule is (amongst others) applicable when ‘it is reasonable to conclude’ that a benefit (granted by a tax treaty) was one of the principal purposes of any arrangement/ transaction. This requ...

the multilateral trading system as a sub-system of the present international system from its beginning as gatt in 1947, after scond world war, until now have been criticized by different countries. with the conversion of gatt into the wto in 1994, not only dissatisfaction of the countries with the performance of multilateral trading system have not gone away, but in many cases also have increas...

We develop a standard model to show how transaction costs in international investment affect conventional tests of consumption risk sharing, both in a multilateral and a bilateral setting. We implement the tests in a novel international dataset on bilateral holdings of equity, bonds, foreign direct investment and bank loans. International consumption risk sharing increases with foreign capital ...

A wide variety of retailers (supermarkets, home electronics, Internet shops, etc.) provide scanner data containing information at the level barcode, e.g. Global Trade Item Number (GTIN). As complete transaction information, we may use expenditure shares items as weightsfor calculating price indices lowest (elementary) aggregation. The challenge here is choice index formula which should be able ...

This paper provides a political economy theory of multilateral aid allocation. We argue that the allocation of multilateral aid depends on the heterogeneity of its member states’ interests as well as on the formation of interest coalitions which can overcome the collective action problems inherent in intergovernmental bodies. Whereas member states delegate aid to multilateral institutions in or...

In light of the COVID-19 crisis, enthusiasm for a European Financial Transaction Tax (FTT) has been revitalised, driven by similar economic factors as decade before. As such, this essay offers timely exposition failures original FTT proposals bringing together academic literature on with that FTTs in general within larger framework international tax cooperation. By dissecting reasons f...