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1.
Within a two-sector-two-country model of trade with aggregate scale economies and unionisation, a more generous welfare state
in one country increases welfare in that country and can have positive spillover effects on the other. Furthermore, synchronised
expansions of social security are more welfare enhancing than unilateral ones. Our results counter the fears that a race to
the bottom in social standards may result from the ‘shrinking-tax-base’ entailed by international capital mobility. While
affecting trade patterns and income distribution, capital mobility interacts with welfare state policies in increasing welfare,
even when capital flows out of the country that initiates the shock.
相似文献
Catia MontagnaEmail: |
2.
International Risk Sharing and Government Moral Hazard 总被引:2,自引:0,他引:2
Wolf Wagner 《Open Economies Review》2007,18(5):577-598
This paper analyzes incentive problems caused by international risk sharing. They arise because international risk sharing
contributes to the insurance of domestic consumption and thus lowers governments’ incentives to increase output. We show that
the resulting distortions can lead to substantial efficiency losses. Complete risk sharing is, therefore, undesirable and
the optimal degree of risk sharing may be low. Furthermore, we show that households’ risk sharing decisions are socially inefficient
and are effectively maximizing government moral hazard. As a result, financial innovation and integration may reduce welfare
by increasing households’ risk sharing opportunities.
相似文献
Wolf WagnerEmail: |
3.
The Barcelona Initiative is the central element of the EU’s Mediterranean policy. We study the implementation of this policy
with respect to Syria using a dynamic general equilibrium model with credit constraints and capital market imperfections.
Dismantling formal tariffs has only limited effects on the Syrian economy, while reducing non-tariff barriers produces by
far larger results. EU association promises broadly positive effects for factor incomes and sectoral outputs, with some temporarily
negative effects in agricultural sectors. Nevertheless, we find evidence of severe trade distorting effects making preferential
trade policy clearly welfare inferior to multilateral trade liberalization within the WTO framework.
相似文献
Bernd LuckeEmail: |
4.
Juha Tervala 《International Economics and Economic Policy》2008,5(3):255-268
This paper analyses the welfare effects of fiscal policy in a small open economy, where private and government consumption
are substitutes in terms of private utility. The main findings are as follows: fiscal policy raises output, bringing it closer
to its efficient level, but is not welfare-improving even though government spending directly affects private utility. The
main reason for this is that the introduction of useful government spending implies a larger crowding-out effect on private
consumption, when compared with the ‘pure waste’ case. Utility decreases since one unit of government consumption yields less
utility than one unit of private consumption. In any case, the marginal rate of substitution between private and government
consumption is a key parameter in governing the welfare effects of fiscal policy.
相似文献
Juha TervalaEmail: |
5.
Kyoji Fukao Kiyohiko G. Nishimura Qing-Yuan Sui Masayo Tomiyama 《International Economics and Economic Policy》2005,2(4):337-362
We construct an index measure that quantitatively describes the monitoring activities of Japanese banks. Using micro data
on Japanese banks and borrower firms, we examine the effects of bank monitoring on the profitability of borrower firms. We
find significant positive effects in the periods 1986–1991 and 1992–1996, although there is no significant effect in the period
1981–1985. We also examine how banks’ monitoring affects borrowers. The results show that the positive effects of banks’ monitoring on borrowers’ profitability
are mostly caused by screening effects, not performance-improving effects.
相似文献
Masayo TomiyamaEmail: |
6.
Estimation of the price-induced welfare effects in vertical and horizontal market settings may prove a tricky task when multiple
price changes are taken into account. Whether a multi-market sequential approach or a single-market approach is used the well-established,
theoretical result suggests that these two partial equilibrium methods are equivalent in terms of implied welfare changes.
This paper develops the methodology to empirically compare these two methods. We estimate the welfare changes to Greek cotton–yarn
producers induced by the simultaneous change in the prices of cotton–yarn and the cost of labor. Results substantiate the
multi-market approach offers more accurate welfare estimates than the single-market approach, in empirical work.
相似文献
Stelios D. KatranidisEmail: |
7.
Eric Toulemonde 《Open Economies Review》2008,19(2):203-219
The paper builds an analytically tractable model that illustrates the “proximity–concentration trade-off” involved in horizontal
multinationals. For low trade costs, firms are single-plant firms, for intermediate costs, some are single-plant firms whereas
others are multinationals, for large trade costs, firms are multinationals. Because of the modeling strategy, the model is
suited for a welfare analysis of multinationals. It shows that too many firms choose to concentrate their production in only
one location. Also, for some transport costs, a reduction in transport costs worsens welfare.
相似文献
Eric ToulemondeEmail: |
8.
Giovanni Ganelli 《Open Economies Review》2008,19(2):241-259
This paper studies the domestic and international effects of “public competition policies” aimed at improving the efficiency
of public spending. Such measures are modeled as an increase in the price elasticity of public consumption. The paper finds
that public competition policies significantly affect macroeconomic interdependence across countries, both through the impact
of the international elasticity of substitution and of mark-up effects. The paper also develops an extension in which fiscal
shocks are stochastic. In welfare terms, countries with a larger government sector have an incentive to promote global public
competition policies regardless of whether fiscal policy is modeled as deterministic or stochastic.
相似文献
Giovanni GanelliEmail: |
9.
Zoran Balac 《Quarterly Journal of Austrian Economics》2008,11(1):1-17
Austrian monetary inflation theory claims that changes in the money supply are disproportionately distributed throughout an
economy, and as a result wealth is coercively redistributed. This study proposes and tests a model illustrating this connection
by examining monetary inflation’s effect on wealth inequality. After testing the model’s validity, this study compares monetary
inflation’s effect on several measures of wealth inequality, concluding that not only is monetary inflation a significant
variable, but its effect on wealth inequality is more pronounced at the extremities of the distribution.
相似文献
Zoran BalacEmail: |
10.
Matthew G. Nagler 《Atlantic Economic Journal》2008,36(3):345-358
A positive shock to funding, such as a major donation, causes an optimizing university to raise its admissions standards and
reduce tuition charges net of financial aid across all student categories. However, the shock’s effect on enrollment may not
be uniform. Student categories given little weight in the university’s objective function may be treated as inferior goods;
that is, positive shocks decrease their enrollments, while other student categories’ enrollments are increased. The paper’s
findings shed light on the effect of federal direct-to-student aid on tuition levels, permitting a new perspective on William
Bennett’s controversial hypothesis that aid accommodates tuition hikes.
相似文献
Matthew G. NaglerEmail: |
11.
African Americans and U.S. Politics: The Gradual Progress of Black Women in Political Representation
This paper argues that since the 1960s, African Americans have substantially increased their political participation in the
U.S. political system. It claims that Blacks in the U.S. have built a strong political foundation and that their influence
in the country’s political system has grown within the past four decades. The paper highlights, however, that more Black women
tend to be active participants in the electoral process than Black men and that there is the potential for Black women to
equal or surpass Black men in the number of elected officials within their race in the years and decades to come.
相似文献
Amadu Jacky KabaEmail: |
12.
Peer Effects and Cigarette Use Among College Students 总被引:1,自引:0,他引:1
Jeffrey Wilson 《Atlantic Economic Journal》2007,35(2):233-247
This study adds to the collegiate substance use literature by measuring the magnitude of peer effects upon individual cigarette
use. The study employs data from the 2001 Harvard School of Health College Alcohol Survey to construct this peer effect measure
and to study the effect of other variables upon a university student’s decision to smoke. The main finding of this paper is
that moving a student from a university where no students smoke to an institution where 25 percent of the population smokes
increases that student’s probability of smoking by 10.71 percent. The results of this paper suggest the potential for universities
to institute student-led, anti-smoking organizations.
相似文献
Jeffrey WilsonEmail: |
13.
This paper provides evidence for an aspect of trade often disregarded in international trade research: countries’ sectoral
export diversification. The results of our semiparametric empirical analysis show that, on average, countries do not specialize;
on the contrary, they diversify. Our results are robust for different statistical indices used to measure trade specialization,
for the level of sectoral aggregation, and for the level of smoothing in the nonparametric term associated with per capita
income. Using a generalized additive model (GAM) with country-specific fixed effects it can be shown that, controlling for
countries’ heterogeneity, sectoral export diversification increases with income.
相似文献
Massimo Tamberi (Corresponding author)Email: |
14.
Disability Insurance Denial Rates and the Labor Force Participation of Older Men and Women in Canada
We examine the effect of denial rates from the Canada/Quebec Pension Plan (C/QPP) disability program on the labor force participation
of older men and women in Canada. Our study uses data from a period in which there was a change in CPP disability adjudication
requirements, which also varied by province, but no change in the QPP disability program requirements. This created variation
in the CPP disability program’s denial rates. The estimates from our preferred specifications indicate that denial rates do
not have the expected statistically significant negative effect on the participation decisions of older men or women. These
findings may be the result of a change in the applicant pool for disability benefits.
相似文献
Michele CampolietiEmail: |
15.
Olugbenga Ajilore 《The Review of Black Political Economy》2008,35(4):117-127
This paper analyzes the effectiveness of the Earned Income Tax Credit (EITC) on poverty transitions, with an emphasis on native-born
African–Americans and immigration. A probit model is estimated using data from the Current Population Survey (CPS), which
evaluates the impact of EITC participation and immigration on transitions out of poverty. The EITC is found to be a useful
tool in combating poverty and is effective for African–Americans, though only for women. More importantly, the results show
that the implementation of state-level EITCs can mitigate the adverse effects of immigration for native-born African–Americans.
相似文献
Olugbenga AjiloreEmail: |
16.
This paper assesses China’s “natural” place in the world economy with a new set of trade integration indicators, which are
used as a benchmark in order to examine whether China’s share in international trade is consistent with fundamentals such
as economic size, location and other relevant factors. They constitute a better measure of trade integration that incorporates
many more factors than traditional openness ratios. The model tracks international trade well and confirms that China is already
well integrated in world markets, particularly with North America, several Latin American and East Asian emerging markets
and most euro area countries.
相似文献
Matthieu BussièreEmail: |
17.
Chien-Ping Chen 《Atlantic Economic Journal》2009,37(1):73-85
Consumer differentiated preferences over movies make the uniform pricing regime at the box office a puzzle in the motion picture
business. This paper explores the nature of price rigidity at the current uniform price. It concludes that the high profit
mark-up from concession sales helps to retain uniform pricing as the optimal choice for exhibitors, without distributors’
condemned intervention. Unless many successful event movies are expected, tiered pricing over regular and event movies will
not benefit either exhibitors or distributors. The criteria for exhibitors to favor tiered pricing and the distributors’ choices
to eliminate the agency problem are also developed.
相似文献
Chien-Ping ChenEmail: |
18.
In a recent article Robert P. Murphy (2006) uses Cantor’s diagonal argument to prove that market socialism could not function,
since it would be impossible for the Central Planning Board to complete a list containing all conceivable goods (or prices
for them). In the present paper we argue that Murphy is not only wrong in claiming that the number of goods included in the
list should be uncountable, but also that the number of equations/prices is irrelevant from the point of view of market socialism.
相似文献
Juliusz JabłeckiEmail: |
19.
This paper investigates whether small countries gain relatively more than large countries from an ‘expansion’ of their market
through the creation of a single currency. The introduction of the euro offers a particularly valuable source to test this
hypothesis, which we motivate using the theoretical model by Casella of the year 1996. Our results from a panel data analysis,
using both aggregate and disaggregated trade data, point to a statistically significant but quantitatively moderate small
country bonus. On average, the euro has led to an improvement of the small euro area’s relative export performance by 3–9%.
相似文献
Harald BadingerEmail: |
20.
This paper describes a simple framework for monetary policy analysis in a small open economy where bank credit is the only
source of external finance. At the heart of the model is the link between banks’ lending rates (which incorporate a premium
over and above the marginal cost of borrowing) and firms’ net worth. In contrast to models in the Stiglitz-Weiss or Kiyotaki-Moore
tradition, the supply of bank loans is perfectly elastic at the prevailing rate. The central bank sets the refinance rate
and provides unlimited access to liquidity at that rate. The model is used to study the effects of changes in official interest
rates, under both fixed and flexible exchange rates. Various extensions are also discussed, including income effects, the
cost channel, the role of land as collateral, and dollarization.
相似文献
Pierre-Richard AgénorEmail: |