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Polish Yearbook of Law&Economics Vol. 5 (2014) - ebook/pdf
Polish Yearbook of Law&Economics Vol. 5 (2014) - ebook/pdf
Autor: , Liczba stron: 159
Wydawca: C. H. Beck Język publikacji: polski
ISBN: 978-83-255-7829-9 Data wydania:
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This fifth volume of the Polish Yearbook of Law & Economics contains a collection of articles selected, following a separate review process, from papers presented by Polish scholars at recent international and national conferences devoted to the Economic Analysis of Law. As the year 2015 marks the 10th Anniversary of the Polish Association of Law & Economics (PSEAP), this volume also includes a presentation of the Association’s history, as well as a contribution by the Honorary Member of PSEAP – Prof. Hans-Bernd Schafer.

“For the last decade Law and Economics has been steadily gaining recognition at Polish universities, giving rise to a generation of young researchers actively pursuing economic analyses of legal topics. This 5th volume of the Polish Yearbook, presenting mainly Works of young Polish authors interested in the field, on an array of topics, is a visible sign of this development.”

Prof. Leszek Balcerowicz, Warsaw School of Economics


“This Yearbook, by grouping together publications prepared by Prof. Hans-Bernd Schäfer and young Polish academics is a great parallel for the rapid development of the law and economics movement in Poland. A must-read for any student, scholar, teacher or practitioner interested in law and economics or, indeed, one who wants to get acquainted with the appli cation of economic reasoning to the area of legal thought.”

Dr. Rafał T. Stroiński, Founder-Member and First President

of the Polish Association of Law & Economics (PSEAP),

lecturer at the Department of Law at University of Warsaw


Polish Yearbook of Law & Economics Vol. 5 (2014) contains papers by scholars including: Prof. Hans-Bernd Schafer, Prof. Mariusz Golecki, Dr. Jarosław Kantorowicz, Anna Laszczyk, Izabela Prager, and Jacek Lewkowicz. Topics covered range from problems of legal sanctions, fiscal governance, and judicial activism, to pay-for-delay agreements, say on pay or determining a company’s executive remuneration, and Law and Economics of trade unions. The final Special Section is dedicated to the presentation of the first decade of the activity of Polish Association of Law & Economics, as well as accompanying reflections on the future development of this movement.

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Polish Yearbook of Law Economics Editors: Jarosław Bełdowski Katarzyna Metelska-Szaniawska Louis Visscher Vol. 5 (2014) Polish Yearbook of Law Economics Authors: Prof. Hans-Bernd Schäfer Bucerius Law School Dr. Jarosław Kantorowicz Erasmus University Rotterdam Prof. Mariusz Jerzy Golecki Faculty of Law and Administration, University of Łódê Anna Laszczyk Faculty of Law and Administration, University of Łódê Izabela Prager Faculty of Law and Administration, University of Warsaw Jacek Lewkowicz Faculty of Economic Sciences, University of Warsaw Editors: Jarosław Bełdowski Collegium of Economic Analyses, Warsaw School of Economics Dr. Katarzyna Metelska-Szaniawska Faculty of Economic Sciences, University of Warsaw Dr. Louis Visscher Erasmus School of Law, Erasmus University Rotterdam Polish Yearbook of Law Economics Editors: Jarosław Bełdowski Katarzyna Metelska-Szaniawska Louis Visscher Vol. 5 (2014) Wydawnictwo C.H.Beck Warszawa 2015 Publisher: Anna Wieczorek Editing: Dominika Drygas Cover by: GRAFOS Cover illustration by: © iStock/mesherize © iStock/atrhobbit © iStock/JuSun Publication co-financed by: – Chair of Political Economy, Faculty of Economic Sciences at University of Warsaw – Warsaw School of Economics (SGH), from the EMLE program funds  – Polish Association of Law Economics (PSEAP) Copyright © Wydawnictwo C.H.Beck Warszawa 2015 Wydawnictwo C.H.Beck Sp. z o.o., ul. Bonifraterska 17 00-203 Warszawa, tel. (22) 33 77 600 Typesetting: Studio Graficzne MIMO, Michał Moczarski Printing and binding: Totem, Inowrocław ISBN 978-83-255-7828-2 ISBN e-book 978-83-255-7829-9 CONTENTS From the Editors (Jarosław Bełdowski, Katarzyna Metelska-Szaniawska, Louis Visscher) ............................................................................................... Section I. FEATURED ARTICLE ......................................................... Chapter 1. The Changing Patterns of Punishing When a Country Gets Rich (Hans-Bernd Schäfer) .................................................................... 1.1. Introduction ....................................................................................... 1.2. The two faces of punitive damages ................................................... 1.3. Decriminalization and human rights, the Case Oztürk v. Germany at the European Court of Human Rights ......................................... 1.4. Decriminalization and Ordre Public, the Case General Motors v. Volkswagen ....................................................................................... 1.5. Efficient deterrence and procedural protection by the criminal procedure ............................................................................................ 1.6. Damages as a decision mechanism for efficient transactions versus damages as a deterrent instrument ................................................... 1.7. Reducing the scope and changing the nature of criminal punishment. Criminal monetary fines ............................................. References ................................................................................................... Section II. ARTICLES .............................................................................. Chapter 2. Are (fiscal) Rules Made to Be Broken? The Law and Economics Analysis of Numerical Fiscal Constraints (Jarosław Kantorowicz) .................................................................................. 2.1. Introduction ....................................................................................... 2.2. Literature survey on fiscal rules’ effectiveness ................................. 2.2.1. Fiscal rules effectiveness in the federal states ........................ 2.2.2. Fiscal rules effectiveness in the cross-country studies ........... 2.3. General hypotheses ............................................................................ 2.4. Empirical approach ............................................................................ 2.4.1. Conventional setting ............................................................. 2.4.2. Propensity score matching ..................................................... 1 3 5 5 6 7 8 9 10 11 13 15 17 17 19 20 23 25 31 31 33 V CONTENTS 2.5. Results ................................................................................................. 2.5.1. National vs. supranational fiscal rules – conventional approach ................................................................................ 2.5.2. National fiscal rules – propensity score-matching ................. 2.5.3. Coverage, legal base, monitoring and enforcement ............... 2.6. Closing remarks and outlook ............................................................ Acknowledgment ....................................................................................... References ................................................................................................... Appendix A. Historical overview of the numerical fiscal rules ................. Appendix B. Sources of the deficit bias ...................................................... Appendix C. Variables used in the empirical model .................................. Appendix D. List of countries under investigation .................................... Appendix E. Coding procedure for national and supranational fiscal rules indicators ............................................................................................. Chapter 3. The Quantity of Law. Tort Liability and the Optimal Production of Retroactive Judicial Precedents (Mariusz Jerzy Golecki) .................................................................................. 3.1. Introduction ....................................................................................... 3.2. The rise of judicial power and judicial law making ........................ 3.3. Judicial lawmaking from the perspective of the Coasean transaction cost economics ..................................... 3.4. The efficiency of judge made law and its limits ............................... 3.5. Retroactivity of judicial precedent and externality costs of judge made law ............................................................................................. 3.6. Tort law and the internalization of external effects of judge made law ....................................................................................................... 3.7. Conclusions ........................................................................................ References ................................................................................................... Chapter 4. Pay for Delay Agreements in the Light of Calabresi and Melamed Model (Anna Laszczyk) ........................................................ 4.1. Introduction ....................................................................................... 4.2. Patent settlements and relevant jurisprudence ................................ 4.2.1. What are patent settlements .................................................. 4.2.2. Jurisprudence ......................................................................... Actavis case .......................................................................... Lundbeck ............................................................................. Fentanyl ............................................................................... Servier ................................................................................. 4.3. C M model ........................................................................................ 4.4. Competition law regulations in the light of the C M model ........ 4.4.1. Pay for delay within C M model ......................................... 4.5. Conclusions ........................................................................................ References ................................................................................................... VI 36 36 37 44 46 47 47 53 55 58 60 62 65 65 67 71 73 75 78 85 86 91 91 93 93 94 95 96 97 98 99 100 101 107 108 CONTENTS Chapter 5. A Bridge Too Far, or Does the European Union Need a Binding Say on Pay (Izabela Prager) ........................................................ 5.1. Introduction ....................................................................................... 5.2. The rationale for mandatory say on pay resolutions ....................... 5.3. The model ........................................................................................... 5.4. The say on pay frameworks ............................................................... 5.4.1. Say on pay in the Dodd-Frank Act ........................................ 5.4.2. Say on pay in the Commission Proposal ............................... 5.5. Say on pay in the Polish legal system ............................................... 5.5.1. Polish Law on Directors’ Remuneration ................................ 5.5.2. Say on pay and the role of the supervisory board ................. 5.6. Conclusions ........................................................................................ References ................................................................................................... Chapter 6. Economic Analysis of Labor Law: The Evaluation of Trade Unions’ Foundations, Models and Valid Regulation (Jacek Lewkowicz) .......................................................................................... 6.1. Introduction ....................................................................................... 6.2. Trade unions foundations ................................................................. 6.3. Trade unions economic models ......................................................... 6.4. Trade unions in Poland – do regulations take into account economic models conclusions? .......................................................... 6.5. Summary and conclusions ................................................................. References ................................................................................................... Section III. SPECIAL SECTION ........................................................... Chapter 7. A Brief History of the Polish Association of Law Economics (Jarosław Bełdowski, Katarzyna Metelska-Szaniawska) ......... 7.1. The turbulent beginnings ................................................................... 7.2. Developing the Law and Economics movement in Poland .............. Conferences, seminars and guest lectures ........................... Publications ......................................................................... Teaching ............................................................................... Practical application ............................................................ 7.3. PSEAP internationally ........................................................................ 7.4. External cooperation .......................................................................... 7.5. PSEAP’s people .................................................................................... 7.6. A short reflection on the future ........................................................ 111 111 111 113 115 115 117 121 121 122 122 123 125 125 126 128 133 137 138 143 145 145 146 146 147 147 148 148 148 149 149 VII From the Editors Jarosław Bełdowski (Warsaw School of Economics) Katarzyna Metelska-Szaniawska (University of Warsaw) Louis Visscher (Erasmus University Rotterdam) We have the pleasure to present the fifth volume of the Polish Yearbook of Law Economics. The collection presented in this volume encompasses works from various areas of the Economic Analysis of Law, selected on the basis of a review process from papers presented by Polish scholars at recent law and economics conferences, e.g. the 31st Annual Meeting of the European Association of Law and Economics (EALE) in Aix-en-Provence in September 2014, as well as the “Economic Analysis of Law” conference organized in March 2014 at the University of Warsaw by its Faculty of Law and Administration. As the year 2015 marks the 10th Anniversary of the Polish Association of Law Economics (PSEAP), this volume includes a presentation of the Association’s history, as well as a contribution by the Honorary Member of PSEAP – Prof. Hans-Bernd Schäfer. The Yearbook opens with the occasional paper by Hans-Bernd Schäfer, a  great supporter of PSEAP from the Association’s very beginning and its Honorary Member since 2013. As Poland becomes richer in law and economics scholarship, Hans-Bernd Schäfer’s article extends our knowledge on what can happen with the system of legal sanctions, when the country eventually joins the club of wealthy nations. Taking into account that Poland belongs to the European tradition of civil law systems, his notes on the development of the decriminalization process in Germany are particularly illuminating. One shall, however, not overlook the comparisons that Hans-Bernd Schäfer discusses between damages as a decision mechanism for efficient transactions versus damages as a deterrent instrument, as well as his thoughts on criminal monetary fines. The Polish scholars’ contribution to this volume begins with an article by Jarosław Kantorowicz (Erasmus University Rotterdam) devoted to a highly 1
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