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排序方式: 共有473条查询结果,搜索用时 15 毫秒
41.
Throughout much of mankind's experience with elections, vote brokers – local elites who direct the voting decisions of a subset of the electorate – have been able to make or break political careers. In various polities, brokers have thrived in spite of the secret ballot, a surprising outcome given that vote secrecy would ostensibly allow citizens to pocket the inducements offered by such individuals and vote their consciences anyway. To address this puzzle, we develop a framework for understanding the persistence and demise of vote brokerage under the secret ballot. In our model, a broker contracts with voters using an outcome contingent contract: some fixed benefit is promised to all voters sharing one of several observable profiles should the broker's candidate win the election. Using this framework, we demonstrate that the existence of brokerage depends on the size of the electorate contained within the jurisdiction controlled by the broker, with large jurisdiction sizes tending to drive brokerage out of existence. Moreover, we detail the manner in which the strategies employed by brokers depend on their economic power, the size of social groups, and ideological polarization. Empirical evidence from Minas Gerais, Brazil is used to evaluate the performance of the model. 相似文献
42.
Fernando Vega-Redondo 《Economic Theory》1999,14(1):203-218
Summary. The paper studies a model of accumulation and growth where a continuum of heterogeneous firms play dynamically optimal strategies along a (rational expectations) equilibrium. The key feature of the model is that
firms' technological decisions are assumed subject to both friction and external effects. This gives rise to a wide multiplicity of equilibrium behavior, any path of sustained growth requiring that the
economy tackle a never-ending chain of fresh coordination problems. This setup is modelled as a (non-atomic) dynamic game,
suitable conditions being provided that partially characterize when sustained growth is a possible (never the unique) equilibrium
outcome.
Received: May 25, 1995; revised version: March 25, 1998 相似文献
43.
Fernando Seabra 《Applied economics》2013,45(5):441-450
This paper to obtain an ex ante measure of exchange rate uncertainty in 11 Latin American countries. As a preliminary issue, the purchasing power parity (PPP) condition is tested using Engle and Granger two-step procedure and Johansen method. The argument is that exchange rate uncertainty could be lower if PPP holds in the long run. The expected exchange rate uncertainty is estimated according to an extended version of the autoregressive, conditionally heteroscedastic (ARCH) model. The results show that the ARCH adjusment produces more efficient estimates in seven countries and that the acceptance of PPP has little effect on exchange rate uncertainty. 相似文献
44.
Summary This paper establishes an existence theorem of a non-trivial (positive capital stock) steady-state equilibrium in Diamond's (1965) overlapping-generations model with production by employing the steady-state consumption curve introduced in Ihori (1978). The assumptions on preferences and production technologies that ensure the existence of a nontrivial steadystate equilibrium are separated from each other, unlike in Galor and Ryder (1989). We also provide two simple examples which illustrate the importance of two conditions in the theorem.Detailed comments by Tomoichi Shinotsuka and the referees of the journal were quite helpful. We also thank Marcus Berliant, Mark Bus, John H. Boyd III, Ban Chuan Cheah, Rajat Deb, Jim Dolmas, Oded Galor, Greg Huffman, Toshihiro Ihori, Radhika Lahiri, Lionel McKenzie, Arundhati Sen, and the seminar participants at the Midwest Mathematical Economics Conference in Ann Abor and at University of Rochester. The second author gratefully acknowledges the financial supports from the European Community Human Capital Mobility Program. 相似文献
45.
Juncal Cunado Luis A. Gil-Alana Fernando Pérez de Gracia 《Review of World Economics》2006,142(1):67-91
We examine the real convergence hypothesis for 14 OECD countries looking at the fractional order of integration of the differences
of real GDP per capita in these countries with respect to the United States. Using parametric procedures, the results vary
depending on how we specify the I(0) disturbances. If they are white noise, convergence is achieved for Canada and Australia,
and with autocorrelated disturbances, this hypothesis is satisfied for France and the Netherlands. However, allowing for a
break at World War II, evidence of convergence is obtained for all countries.
JEL no. C32, O41 相似文献
46.
This paper examines the diffusion pattern of mobile telephony in Colombia. The empirical modelling approach adopted in the paper starts off by choosing between the two functional forms that are most frequently used in the literature, namely the Gompertz and the Logistic models. After applying a formal statistical test to choose the preferred functional form, the evidence suggests that the pattern of diffusion can be best characterised as following a Logistic model. The findings also suggest that despite the fact that in recent years the rate of growth of mobile phone subscribers has started to slow down, there still appears to be room for further expansion as the saturation level is expected to be reached in 2013. The estimated saturation level is consistent with some individuals possessing more than one mobile device. 相似文献
47.
We present a portfolio decision model for banks that permits us to estimate the costs associated with the need to collateralise loans from the central bank. This allows us to calibrate the difference between a restrictive collateral eligibility framework for open market operations, such as that applied by the FED, with a more flexible approach such as that of Eurosystem. We also document that there could potentially appear relevant cost differences between the various collateral mobilisation procedures (pooling and earmarking) that currently coexist in the eurozone. 相似文献
48.
There are two sources of inconsistency in existing cross-country empirical work on growth: correlated individual effects and endogenous explanatory variables. We estimate a variety of cross-country growth regressions using a generalized method of moments estimator that eliminates both problems. In one application, we find that per capita incomes converge to their steady-state levels at a rate of approximately 10 percent per year. This result stands in sharp contrast to the current consensus, which places the convergence rate at 2 percent. We discuss the theoretical implications of this finding. In another application, we perform a test of the Solow model. Again, contrary to prior reults, we reject both the standard and the augmented version of the model. 相似文献
49.
Fernando S. Machado 《Journal of Agricultural Economics》1995,46(3):349-360
This paper deals with some of the problems involved in testing the hypothesis that factor price movements tend to influence the type of technological innovations which are developed and adopted, known as the Induced Innovation Hypothesis. Previous methods to perform this test are briefly reviewed and their limitations are discussed. A testing procedure which is based on the use of cointegration analysis is proposed and its advantages outlined. Finally, one application of the method is made, providing little support for the Induced Innovation Hypothesis in the case of US Agriculture (1948–83). 相似文献
50.