In this policy brief, we review the main trade-offs associated with joint procurement, or procurement “centralization”, as identified by procurement scholars. We then focus on the specific case of natural …
A set-aside restricts participation in procurement contests to targeted firms. Despite being widely used, its effects on actual competition and contract outcomes are ambiguous. We pool a decade of US federal…
We present a simple model, illustrating how democracy may improve the quality of the economic institutions. The model further suggests that institutional quality varies more across autocracies than across…
The majority of countries around the world provide tax incentives for business philanthropy. However, little is known about the responsiveness of businesses to this tax treatment. This paper expands on this…
How does fiscal austerity affect redistributive policies? We document that during austerity episodes, countries tend to increase marginal income tax rates on top earners, but not on average earners. We then show…
The ECB is about to discontinue its net asset purchases. In December 2021, the ECB Council had already decided to end net purchases under the Pandemic Emergency Purchase Programme (PEPP) by the end of March…
We analyze an important but little-studied institution for balancing supply risk in the management of procurement operations: performance bonding. By adding the surety as a third party that guarantees…
