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91.
This paper provides estimates of elasticities of substitution between domestic and imported goods for 40 4-digit S.I.C. food manufacturing industries and explains the inter-industry differences among these coefficients in terms of industry sectoral characteristics. The results show that there is a wide range of variation among such elasticities and that the intensity of each industrys percentage of output sold to final consumers, foreign direct investment, expenditures on advertising and the existence of import quotas affect the degree of substitutability between domestic and foreign goods in the face of a relative price change. 相似文献
92.
We study the dynamic impact of recycling through its effect on the production set of the economy and its relationship with
natural resources. The contribution of renewable and recyclable resources for sustainability is studied. Although in the short
run recycling may alleviate resource scarcity, in the long run it is not enough to compensate for the exhaustibility of non-renewable
resources and the possibility of obtaining non-decreasing output paths crucially depends on the extent to which production
rests on renewable resources. Furthermore, recycling interacts with natural resource growth, surprisingly not always favoring
sustainability. The Production and Recycling Function is a generalization of the traditional production function, providing
an integrated view of regular production and recycling and representing the production set of the economy when a recycling
technology is available. 相似文献
93.
A kernel-based method for nonparametric estimation of variograms 总被引:2,自引:0,他引:2
Variogram estimation plays an important role in many areas of spatial statistics. Potential areas of application include biology, ecology, economics and meteorology. However, it is common that, for example under highly correlated patterns, traditional estimators can not reflect all the spatial features or dependencies. In this paper, we present an alternative distribution-free estimator based on nearest-neighbour estimation with a non-constant smoothing field that is better able to adapt to spatially varying features of the data pattern. We present a simulation study to compare our new estimator to a nearest-neighbour estimator built with a constant smoothing parameter and to the classical variogram estimator. We apply our method to analyze two ecological data sets. 相似文献
94.
Exploring different views of exchange rate regime choice 总被引:1,自引:0,他引:1
Fabrizio Carmignani Emilio Colombo Patrizio Tirelli 《Journal of International Money and Finance》2008,27(7):1177-1197
The empirical distinction between de facto and de jure exchange rate regimes raises a number of interesting questions. Which factors may induce a de facto peg? Why do countries enforce a peg but do not announce it? Why do countries “break their promises”? We show that a stable socio-political environment and an efficient political decision-making process are a necessary prerequisite for choosing a peg and sticking to it, challenging the view that sees the exchange rate as a commitment device. Policymakers seem rather concerned with regime sustainability in the face of adverse economic and socio-political fundamentals. 相似文献
95.
The paper studies the motivations behind banks’ shareholding of non-financial firms using a panel of large Italian companies in the period 1994–2000. Empirical evidence shows that banks are shareholders of companies that are less profitable, have experienced slower growth, are more indebted, are endowed with collateral and have hard time to repay their debt out of current income. Banks are more likely to hold shares in companies they lend to. Overall the evidence suggests that there is complementarity between bank equity holding and lending. A plausible explanation is the shareholder–debtholder conflict, the evidence is weakly compatible with governance and information hypotheses. 相似文献
96.
Emilio Giardina Isidoro Mazza Giacomo Pignataro Ilde Rizzo 《International Advances in Economic Research》2016,22(3):321-332
This paper highlights issues in the theory of voluntary provision of public goods, building on the investigation by Peacock in connection with the contributions by Coase and Buchanan. Our goal is twofold. We first draw attention to the early literature investigating the provision of public goods and to the successive theoretical analysis. We then focus on the impact of technology on supply and demand. Examples of different types of public goods are provided, with special attention to the cultural sector, to investigate whether and how technology affects the efficiency and the effectiveness of the related public goods provision. The implementation and exploitation of technological advancements are investigated in view of the role of different actors (public, private) at different levels of government. 相似文献
97.
98.
Martire Antonio L. Russo Emilio Staino Alessandro 《Decisions in Economics and Finance》2023,46(1):177-220
Decisions in Economics and Finance - We investigate the evaluation problem of variable annuities by considering guaranteed minimum maturity benefits, with constant or path-dependent guarantees of... 相似文献
99.
Emilio Colombo 《Applied economics》2013,45(13):1689-1701
This paper investigates the capital structure of Hungarian firms using a cross-section and a panel data approach. The data set is composed of balance sheet data and information on market structure for 1100 firms from 1992 to 1996. Evidence is found of imperfections that constrain firms in the achievement of their optimal capital structure, but also some positive indications: there are no distortions typical of the planned system and no signs of the presence of soft budget constraints. 相似文献
100.
Mimako Kobayashi Richard E. Howitt Lovell S. Jarvis Emilio A. Laca 《American journal of agricultural economics》2007,89(3):805-817
The stocking density on Kazakhstan's extensive rangelands is well below traditional levels. To analyze dynamic flock performance, we develop a stochastic dynamic programming model for livestock systems with stochastic forage production. The model contains continuous five state and 12 control variables, allowing improved characterization of the biophysical relationships and economic tradeoffs inherent in such systems. Most Kazakhstan herders have restricted access to capital. The model indicates that the cost of capital strongly affects flock size and productivity. We conclude that capital constraints are important to explaining the current low stocking density. Improving capital markets in rural areas warrants policy attention. 相似文献