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1.
Anthony J. Evans 《Constitutional Political Economy》2009,20(2):118-138
This article provides epistemic foundations for traditional rational-choice political science, to explain when and how ideas
matter. Operational codes, epistemic communities and the structural patterns of ideas demonstrates the constitutional moments
that occur during crises, and how ideas can underpin and direct the formation of interest groups. The implications for policy
reform are discussed, along with an application to the Constitutional Moments during the transition of Central and Eastern
Europe.
相似文献
Anthony J. EvansEmail: |
2.
We test the hypothesis that the sector bias of skill biased technical change is important in explaining the rising relative
wage of skilled workers in the manufacturing sector in three Central and Eastern European transition countries. The econometric
results broadly confirm that the concentration of skill biased technical change in the skill intensive sectors had a significant
effect on the skill premium in these transition countries.
相似文献
Robert Stehrer (Corresponding author)Email: |
3.
Thiess Buettner 《Empirica》2007,34(4):287-297
This paper provides empirical evidence on regional labor market flexibility in Europe and, in particular, in the EU-accession
countries in Central and Eastern Europe. Whereas substantial regional disparities in unemployment are found for pre-accession
EU member countries as well as for accession countries, an empirical analysis taking account of spatial effects shows that
regional wage flexibility is significantly higher for accession countries. Moreover, unemployment disparities are found to
be less persistent in the accession countries.
相似文献
Thiess BuettnerEmail: |
4.
Price-setting behavior of Austrian firms 总被引:1,自引:1,他引:0
This paper explores nominal rigidities by investigating price-setting behavior of Austrian firms based on survey evidence.
Distinguishing between two stages of price setting—first the price reviewing phase and second the price changing phase—our
results suggest that the main obstacles to price flexibility lie on the second stage. Our main result is that firms postpone
price adjustments, because they are afraid to antagonize customers with frequent price changes. Thus, customer relationships
- especially those with consumers—are a major source of price stickiness in the Austrian economy.
相似文献
Josef Baumgartner (Corresponding author)Email: |
5.
Economic integration and similarity in trade structures 总被引:2,自引:0,他引:2
In this paper, we look at the similarity of the trade structures toward the EU market between four CEECs and the EU15. We
evaluate the appropriateness of different indices to compare export flows—correlation indices and distance metrics—opting
for the use of the Bray-Curtis semi-metric. We examine both how the export composition of a country has changed over time
and how the export composition has changed with respect to the EU15 export composition. Finally, we test if the dynamics of
sectoral distribution of the CEECs’ exports is related to the role acquired by processed trade in the 1990s. We give evidence
that processed trade is crucial in explaining changes in the overall structure of exports of transition countries, and that
greater economic integration in terms of trade flows and processing trade does not always lead to greater export similarity.
相似文献
Lucia TajoliEmail: |
6.
7.
We analyze the link between macroeconomic fundamentals and exchange rate dynamics in two new and two potential EU member states:
Bulgaria, Romania, Croatia, and Turkey. Given the different institutional settings of the exchange rate market in the countries
of interest, we follow two different modelling strategies. For Romania and Turkey, we evaluate possible exchange rate misalignments
based on a monetary model of exchange rate determination. In the case of Bulgaria and Croatia, with currency board and narrow-band
peg arrangements against the euro, we discuss possible exit strategies and quantitatively assess the effects of the peg arrangements
by means of simulation.
相似文献
Maria Antoinette SilgonerEmail: |
8.
How large is liquidity risk in an automated auction market? 总被引:2,自引:0,他引:2
We introduce a new empirical methodology that models liquidity risk over short time periods for impatient traders who submit market orders. Using Value-at-Risk type measures, we quantify the liquidity risk premia for portfolios and individual stocks traded on the automated auction market Xetra. The specificity of our approach relies on the adequate econometric modelling of the potential price impact incurred by the liquidation of a portfolio. We study the sensitivity of liquidity risk towards portfolio size and traders' time horizon, and interpret its diurnal variation in the light of market microstructure theory.
相似文献
Pierre GiotEmail: Phone: +32-81-724887 |
Joachim Grammig (Corresponding author)Email: Phone: +49-7071-2976009Fax: +49-29-5546 |
9.
This study examines the impact of a stamp tax rate increase on market behavior, using data from two stock exchanges in China. We find that when the tax rate increases from 0.3 to 0.5% (which implies that the transaction cost increases by about 1/3) trading volume decreases by 1/3. This implies an elasticity of turnover with respect to a stamp tax of −50% and an elasticity of turnover with respect to transaction cost of −100%. The markets’ volatility significantly increases after the increase in the tax rate. Furthermore, the change in the volatility structure indicates that the markets become less efficient in the sense that shocks are less quickly assimilated in the markets.
相似文献
Badi H. Baltagi (Corresponding author)Email: |
Dong LiEmail: |
Qi LiEmail: |
10.
In the present article the time series of the decomposition of Greek real GDP are investigated for the presence of a unit
root, allowing for a maximum of two breaks which take place at an unknown point in time. This methodology is preferred to
the conventional Dickey and Fuller tests because the covered time horizon, namely from 1858 to 1938, is characterized by a
number of very important events, the nature of which is either economic or historical.
相似文献
Erotokritos VarelasEmail: |
11.
We combine evolutionary theory concepts and multivariate persistence methodology to develop and test expectations about the
adaptiveness of firm decisions and its implications for performance heterogeneity. We focus on the relatively reversible advertising
decisions in an evolving product market, domains typically ignored by evolutionary research. We find that an adaptive decision
routine helps an incumbent firm maintain its advantages and overcome the challenge posed by a major competitive entry.
相似文献
Zhenfeng MaEmail: |
12.
Niccolo Caldararo 《Forum for Social Economics》2009,38(1):31-51
This paper investigates aspects of economics in the context of complex society and the nature of investment devices in cross-cultural
comparison, placing special attention on the new global issues of money, hedge fund contracts, derivatives and other risk-spreading
concepts and practices. The function of these are compared to the behavior of the inventors and practitioners in other cultures.
Similarities are noted with religious formulators and the process of conversion and the operation of the market and credit
paralleled with the concept of Mana. This work provides a context for understanding contemporary human economic behavior.
Novel structures of symbolic worth are associated with individual presentation and performance. Clearly concepts of value
and credit have been changing in modern financial culture. Indeed, they have been expressing forms that have traditionally
been associated with primitive economics. An understanding of the current financial and social losses resulting from the subprime
collapse is presented along with a means to counter it.
相似文献
Niccolo CaldararoEmail: |
13.
This article studies the question whether labour market institutions can explain the large differences in unemployment rates
in the new member states. It investigates several labour market institutions and concludes that they are on average no more
rigid in the new member states than in the old ones. However, there is a lot of heterogeneity both in terms of institutions
and unemployment rates. The impact of labour market institutions on performance is empirically examined for a panel of European
countries. These results are used to assess to what extent labour market institutions are responsible for the diverse unemployment
experiences in the new member states. Labour market institutions can explain only a small part of these differences. Other
causes of unemployment seem to be more important.
相似文献
Laura ThissenEmail: |
14.
Export variety and the economic performance of countries 总被引:3,自引:0,他引:3
We explore the relationship between export variety and economic development, using data on OECD countries between 1964 and
2003. We show that structural change in the world economy has a particular arrow of time leading to a growing variety of exports.
Distinguishing between related variety (within sectors) and unrelated variety (variety between sectors), we also show that
related variety stimulates growth instantaneously, while unrelated variety only promotes growth with a considerable time lag.
This finding is in line with the evolutionary notions that economic development and international trade patterns are path
dependent.
相似文献
Koen FrenkenEmail: |
15.
Art Carden 《The Review of Austrian Economics》2009,22(1):1-19
Ludwig von Mises argued that capital goods were “conservative elements” that constrain future production decisions. Similarly,
social capital and institutions also constrain future production decisions. These insights are applied to the institutional
transformation of the post-Reconstruction American South. It is argued that the structure of social capital that developed
in the South was inappropriate to the formal institutions that emerged as a result of the Civil War and Reconstruction. The
tensions between institutions and social capital are examined in the context of racist lynching.
相似文献
Art CardenEmail: |
16.
We analyze a unique case of voting on voting with the feet, when Tennessee twice considered secession from the Union in 1861
by popular referenda. The initial votes to hold a convention, and to send disunion delegates to a convention, failed, but
after the Confederate states adopted a new constitution and the bombing of Fort Sumter took place, a second set of votes to
separate from the union, and to join the confederacy, passed. Regression results support the importance of both economic interests
and political tendencies, along with regional differences, in explaining the variation in votes across counties. Class distinctions
were not found to be significant.
相似文献
Jac C. HeckelmanEmail: |
17.
Andrew Roberts 《Constitutional Political Economy》2009,20(2):99-117
This paper analyzes the causes and consequences of constitutional amendments in Eastern Europe. Its results challenge the
conventional wisdom that constitutional change is a consequence of institutions and that major changes will increase executive
powers and limit rights. It finds that the political and social context rather than institutions is the main cause of amendments.
These amendments moreover tend to reduce the power of executives and strengthen guarantees of human rights. The paper attributes
these results to the particular circumstances of the postcommunist transition.
相似文献
Andrew RobertsEmail: |
18.
Christos Karpetis 《International Advances in Economic Research》2008,14(2):205-214
The specification of the linear long-run relationship among money, income and the opportunity cost of holding money has been
a popular study in economic literature. In the specific case of Greece, numerous articles investigated this relationship using
quarterly data, mainly of the period after 1960. The objective of this article is to investigate the same long-run relationship
using annual data and covering the historical period between 1858 and 1938. The results of the used cointegration analysis
are presented along with the findings of other authors who covered the post war era of the Greek Economy.
相似文献
Christos KarpetisEmail: |
19.
We present a two-sector endogenous growth model with human and physical capital accumulation to analyze the long-run relationship
between population growth and real per capita income growth. Formal education and investment in physical capital are assumed
to be two separate components of human capital production. Along the balanced growth path equilibrium, population change may
have a positive, negative, or else neutral effect on economic growth depending on whether physical and human capital are complementary/substitutes
for each other in the formation of new human capital and on their degree of complementarity.
相似文献
Davide La TorreEmail: |
20.
Sourushe Zandvakili 《Forum for Social Economics》2008,37(2):135-145
Assessment of inequality measurement is the focus for this survey. All measures of inequality must be evaluated based on a
set of desirable properties. More importantly, the usefulness of statistical inference for measures of inequality needs examination.
相似文献
Sourushe ZandvakiliEmail: |