Dynamic Incentives and the Optimal Delegation of Political Power /
This paper proposes a theory to explain why a politician delegates policy tasks to a technocrat in an independent institution. It formalizes the rationales for delegation highlighted by Hamilton (1788) and by Blinder (1998). Delegation trades-off the cost of having a possibly incompetent technocrat...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2007.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 2007/091 |
| 在線閱讀: | Full text available on IMF |