úterý 2. června 2009

Wir sind Opel

Quoting Die Presse (in E15): "The Bavarian Karl-Theodor zu Guttenberg would love to put Opel into bankruptcy. Four months prior to general elections, though, the aid package is less a reasonable economic policy and more a showcase of a job-preserving effort." Those interested in whether pre-electoral state aid rationally manifests politicians' effort should definitely check Robinson, Torvik (2005), Dewatripont, Seabright (2006) and also my paper (2009).