Title Assurance and Incentives for Efficient Land Use

This paper develops an economic analysis of a general class of land title systems, focusing specifically on incentives for efficient exchange and investment in land. The analysis abstracts from certain institutional features of actual title systems, and is therefore largely normative in nature. Nevertheless, the results are relevant for a complete evaluation of alternative systems, especially for countries where land development (or redevelopment) is a primary objective. The results suggest that in most cases, land registration is preferred to the recording system on exchange and investment grounds, holding other factors constant.     

Federalism and Party Interaction in West Germany, Switzerland, and Austria

The federalism established in the constitutions of the FederalRepublic of Germany, Switzerland, and Austria, in addition tothe common language of these countries, distinguishes them fromthe other West European countries, which lean toward centrallyorganized states. After examining the historical foundationand development of the federal systems in the three countries,the article analyzes the segmentation, federal-state interaction,and intraparty effects of political parties in them. While federalismis strengthened by the heterogeneity and regional solidarityof the political parties in Switzerland, federalism has becomea pure "party federalism" in the Federal Republic of Germanyand Austria.