共查询到20条相似文献,搜索用时 31 毫秒
1.
Aaron N. Mehrotra 《International Advances in Economic Research》2008,14(1):36-47
We examine money demand in the Chinese economy during a period characterized by significant disinflation and outright deflation,
coupled with strong output growth. Our study establishes a stable money demand system for broad money M2. Inflation affects
the adjustment of the system towards equilibrium, and shocks to broad money are found to lead to higher inflation in the context
of an impulse response analysis. No evidence of non-linearity in money demand is found for the disinflationary period. The
results provide support for the People’s Bank of China’s policy of specifying intermediate targets for money growth. Importantly,
our results suggest that movements in the nominal effective exchange rate should be taken into account in a successful implementation
of such a policy.
相似文献
Aaron N. MehrotraEmail: |
2.
Using a dynamic panel data model with serial correlation in the error term, the purpose of this paper is to examine if Gibrat’s
Law can be rejected for the services sector as it has been for manufacturing. The aim of this paper is also to improve the
understanding of the empirical determinants of firm growth by extending the literature to include a new variable related to
foreign participation. In addition, and based on recent developments in the growth of firms, our analysis also includes the
role of the financial structure. The sample used is an unbalanced panel data set that includes all size classes, including
the smallest surviving firms, from the Portuguese service sector over the period from 1995 to 2001. Applying the GMM-system
estimator our findings suggest that Gibrat’s Law is rejected for the services firms. In addition, the results also indicate
that firm growth is mainly explained by firm size and age. These results have significant policy implications.
相似文献
Blandina OliveiraEmail: |
3.
Hardy Hanappi 《Journal of Evolutionary Economics》2008,18(2):275-289
The goal of this paper is to highlight the importance of the concept of choice. To do so, a synopsis of the most important
contributions to this topic—featuring an eclectic set of scholars across disciplines—is provided. As central to the argument,
John von Neumann’s contributions, game theory and simulation techniques on von Neumann machines, are identified. Innovation
(economic and theoretic) as the driving force behind human evolution seems to head for a new scientific paradigm based on
von Neumann’s ideas.
相似文献
Hardy HanappiEmail: |
4.
In a haystack-type representation of a heterogeneous population that is evolving according to a payoff structure of a prisoner’s
dilemma game, migration is modeled as a process of ‘swapping’ individuals between heterogeneous groups of constant size after
a random allocation fills the haystacks, but prior to mating. Migration is characterized by two parameters: an exogenous participation-in-migration
cost (of search, coordination, movement, and arrangement-making) which measures the migration effort, and an exogenous technology—of
coordinating and facilitating movement between populated haystacks and the colonization of currently unpopulated haystacks—which
measures the migration intensity. Starting from an initially heterogeneous population that consists of both cooperators and
defectors, a scenario is postulated under which ‘programmed’ migration can act as a mechanism that brings about a long-run
survival of cooperation.
相似文献
Yong WangEmail: |
5.
This paper uses a human capital earnings equation to quantify administrative corruption in the public sector. Regression analyses
are conducted based on information from surveys administered to public officials in Albania. After accounting for officials’
characteristics, e.g., schooling, experience, gender, type of agency, and public and private sectors’ features, we deduce
that the administrative corruption was on average 2.6× the officials’ current salary in Albania, which is equivalent to 16.7%
of the country’s GDP.
相似文献
Omer GokcekusEmail: |
6.
In constitutional political economy, the citizens’ constitutional interests determine the social contract that is binding
for the post-constitutional market game. However, following traditional preference subjectivism, it is left open what the
constitutional interests are. Using the example of risk attitudes, we argue that this approach is too parsimonious with regard
to the behavioral foundations to support a calculus of consent. In face of innovative activities with pecuniary and technological
externalities in the post-constitutional phase, the citizens’ constitutional interests vary with their risk preferences. To
determine what kind of social contract is generally agreeable, specific assumptions about risk preferences are needed.
相似文献
Ulrich WittEmail: |
7.
Wolfgang Lechthaler 《Empirica》2009,36(3):331-350
By allowing firms to invest in their workers’ human capital, this paper extends the traditional analysis of firing costs with
respect to two points, both of them positive in terms of welfare. On the one hand, firing restrictions reduce turnover, thereby
enhancing incentives to provide training. On the other hand, training gives firms the opportunity to lower the costs of firing
restrictions since well-trained workers are less likely to be fired. In this way the negative effects of firing costs on firm
profitability and workers’ job-finding rates are reduced.
相似文献
Wolfgang LechthalerEmail: |
8.
Reciprocity in evolving social networks 总被引:1,自引:1,他引:0
We study the viability of conditional cooperation in a dynamically evolving social network. The network possesses the small world property, with high clustering coefficient but low characteristic path length. The interaction among linked individuals takes
the form of a multiperson prisoners’ dilemma, and actions can be conditioned on the past behavior of one’s neighbors. Individuals
adjust their strategies based on performance within their neighborhood, and both strategies and the network itself are subject
to random perturbation. We find that the long-run frequency of cooperation is higher under the following conditions: (i) the
interaction radius is neither too small nor too large, (ii) clustering is high and characteristic path length low, (iii) the
mutation rate of strategies is small, and (iv) the rate of adjustment in strategies is neither too fast nor too slow.
相似文献
Rajiv SethiEmail: |
9.
Pierre-Guillaume Méon 《Constitutional Political Economy》2006,17(3):207-216
This note studies the volatility of the policy chosen by a committee whose members’ preferences are volatile, due to common and individual preferences shocks. It is shown that majority voting mitigates the latter but not the former. The volatility of the policy is smaller the smaller the volatility of members’ preferences, smaller the larger the size of the committee, and smaller than if it was chosen by a single member. The results hold in a context of uncertainty and with multidimensional issues.
相似文献
Pierre-Guillaume MéonEmail: Phone: +32-2-650-66-48 |
10.
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: |
11.
Aaron Hatcher 《Environmental and Resource Economics》2007,38(1):89-98
This paper compares a firm’s short run optimal production and abatement rules under emission level standards and standards
expressed in terms of emissions per unit of output (ratio standards). The models allow for non-compliance with standards,
with expected penalties dependant on either level or relative violations of the standard in question. It is shown that ratio
arguments make a difference to the optimal decision rules derived for a profit-maximising firm. For example, for a given level
of emissions the firm both produces more, and abates more, under a ratio standard, so that ratio and level standards cannot
be used interchangeably to achieve the same combination of emissions and output. The implications for the efficiency of pollution
control are briefly discussed.
相似文献
Aaron HatcherEmail: |
12.
Joakim Ahlberg 《Portuguese Economic Journal》2009,8(1):3-14
This paper proposes a discrete bidding model for both quantities and pricing. It has a two-unit demand environment where subjects
bid for contracts with an unknown redemption value, common to all bidders. Prior to bidding, the bidders receive private signals
of information on the (common) value. The relevant task is to compare the equilibrium strategies and the seller’s revenue
of the three most common auction formats with two players. The result is that the Vickrey auction always gives the most revenue
to the seller, the discriminatory auction follows closely and the uniform auction clearly is the worst due to demand reduction.
相似文献
Joakim AhlbergEmail: |
13.
Luís F. Costa 《Portuguese Economic Journal》2006,5(1):45-65
In this article I develop an imperfectly competitive dynamic general equilibrium model for a small open economy integrated
in a monetary union. Here, the type of entry in the non-traded goods’ sector affects fiscal policy effectiveness. Fiscal policy
effectiveness is enlarged when aggregate demand stimuli increase intra-industrial competition (case I). This is due to the
counter-cyclical mark-up mechanism generated by entry. Such a mechanism is absent in the usual monopolistic competition where
entry only has a sharing effect (case II).
相似文献
Luís F. CostaEmail: URL: http://www.iseg.utl.pt/~lukosta/ |
14.
This paper is organized as follows: first, we show that the reference to the notion of group selection is coherent with the
other parts of Hayek’s thought. Second, we develop the idea that recent works in terms of the emergence and evolution of social
norms corroborate in part Hayek’s theses in this domain. Finally, we put to the fore some drawbacks in Hayek’s approach and
propose means to solve them.
相似文献
Pierre GarrousteEmail: |
15.
Jean-Pierre Lévy Mangin Jaime de Pablo Valenciano Tamás Michal Koplyay 《International Advances in Economic Research》2009,15(2):186-206
Relations between manufacturers and distributors have been the center point of the distribution channel’s management. This
study covers the effects of coercive, as well as non-coercive power on intermediary variables such as cooperation and conflict.
It will also analyze the effects of cooperation and conflict on American car dealers’ satisfaction and performance in Spain.
Due to the small sample size (46 dealers), the model based on causal modeling compelled us to use the optimization method
based on the partial least squares (PLS) regression techniques coupled with a bootstrapping to enable some generalization
of the results.
相似文献
Jean-Pierre Lévy ManginEmail: |
16.
Domenico D’Amico 《Constitutional Political Economy》2007,18(4):301-318
Buchanan’s reflections on monetary issues have been mostly neglected, despite their great interest both per se and for a deeper
understanding of his general constitutional endeavour. We will thus propose a comprehensive assessment of Buchanan’s writings
on this topic, focusing in particular on the different political models that have been developed to argue in favour of constitutional
constraints on the governmental power to create money and on the implications that one can draw from our author’s monetary
papers for the structure and the objectives of his constitutional discourse more generally.
相似文献
Domenico D’AmicoEmail: |
17.
Corporate social responsibility and the ‘game of catallaxy’: the perspective of constitutional economics 总被引:1,自引:0,他引:1
Viktor J. Vanberg 《Constitutional Political Economy》2007,18(3):199-222
The paper examines the issue of corporate social responsibility (CSR) from the perspective of constitutional economics, focusing
on the distinction between a political community’s constitutional choice of the rules of the “market game,” and the market
players’ sub-constitutional choice of strategies within these rules. Three versions of CSR-demands are identified and discussed,
a “soft,” a “hard”, and a “radical” version. The soft version is concerned with the issue of how “socially responsible” corporations ought to play the market game within existing
rules. The hard version is about how the rules of the market ought to be changed in order to induce “socially responsible” corporate behavior.
And the radical version questions the compatibility of CSR and the logic of the market game, calling in effect for adopting some alternative
economic regime.
相似文献
Viktor J. VanbergEmail: |
18.
Jason Brennan 《Constitutional Political Economy》2007,18(4):287-299
Rawls’ theory of justice is paradoxical, for it requires a society to aim directly to maximize the basic goods received by
the least advantaged even if directly aiming is self-defeating. Rawls’ reasons for rejecting capitalist systems commit him
to holding that a society must not merely maximize the goods received by the least advantaged, but must do so via specific
institutions. By Rawls’ own premises, in the long run directly aiming to satisfy the difference principle is contrary to the
interests of the poor, though it is meant to aid them.
相似文献
Jason BrennanEmail: |
19.
On the distribution of product price and quality 总被引:1,自引:0,他引:1
Alex Coad 《Journal of Evolutionary Economics》2009,19(4):589-604
We investigate the structure of demand by focusing on the distribution of prices within narrowly-defined classes of goods.
We observe considerable heterogeneity—products that are functionally similar but presumably of different ‘quality’ may sell
at very different prices. We analyze distribution of prices for bottles of wine, used cars, houses in London and week-long
holidays in Majorca, and observe in each case that the the resulting distribution is more skewed than the lognormal but less
skewed than a Pareto distribution. We then present a theoretical model whereby products can distinguish themselves along multiple
hedonic dimensions of ‘performance’, with these product attributes being random variables subject to multiplicative interactions.
Variations of this model can reproduce a lognormal price distribution and a Pareto distribution as lower and upper bound benchmarks
(respectively).
相似文献
Alex CoadEmail: |
20.
Mark Jackson 《Constitutional Political Economy》2008,19(2):148-157
Thomas P. M. Barnett argues that globalization’s spread presents the United States and other liberal democracies with two
unprecedented national-security problems, and proposes an ambitious military strategy for their solution. This work argues
that a successful strategy to solve one of these problems must also include rational policy, public policy that makes Adam
Smith’s simple system of natural liberty a reality. Thus, Barnett’s military strategy and rational policy become complementary
elements of a more comprehensive strategy to solve this national-security problem. Knowledge that Smith’s simple system of
natural liberty moves the world toward peace can create a need for rational policy among voters.
相似文献
Mark JacksonEmail: |