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1.
Do Patent Protection and Technology Transfer Facilitate R&D in Developed and Emerging Countries? A Semiparametric Study 总被引:1,自引:0,他引:1
This paper examines if patent protection and technology transfer facilitate R&D in a sample that includes both developed and
emerging countries. A semiparametric model is used to estimate the relevant parameters using country level data from 21 countries,
of which six are emerging, for the period 1981–1997. The results suggest thresholds in patent protection and technology transfer:
patent protection has a positive effect which weakens at high levels of protection, and FDI has a positive effect only if
the country depends heavily on FDI.
相似文献
Debasri MukherjeeEmail: |
2.
This paper utilizes calculated historical volatility and GARCH models to compare the historical price volatility behavior
of crude oil, motor gasoline and heating oil in U.S. markets since 1990. We incorporate a shift variable in the GARCH/TARCH
models to capture the response of price volatility to a change in OPEC’s pricing behavior. This study has three major conclusions.
First, there was an increase in volatility as a result of a structural shift to higher crude oil prices after April 1999.
Second, volatility shocks from current news are not important since GARCH effects dominate ARCH effects in the variance equation.
Third, persistence of volatility in all commodity markets is quite transitory, with half-lives normally being a few weeks.
相似文献
Thomas K. LeeEmail: |
3.
This paper investigates the phenomenon of judicial corruption and incorporates it into Polinsky, A. M. (1980). Strict liability
vs. negligence in a market setting. American Economic Review, 70, 363–367 framework so as to analyze the efficiency of the negligence rule. By shedding light on the role of social norms
in regard to the phenomenon of judicial corruption, this analysis provides implications for policy. First, more prevalent
corruption at the status quo tends to intensify the extent of the corruption itself and, as a result, the effectiveness of
the government’s corruption enforcement is greatly lessened. This implies that an excessively lenient policy of corruption
may result in an uncontrollable consequence; once corruption becomes rampant, it is costly to bring it down. Of great importance,
in the presence of such a corruption effect, the social optimum cannot be achieved based on the negligence rule and the equivalence
between the strict liability and negligence rule fails. Secondly, the attitude of the society toward a corrupt judge plays
a crucial role in governing the effectiveness of an efficient wage arrangement. If the society can fully accept a corrupt
judge, corruption will never be controlled even with the incentive wage scheme.
相似文献
Juin-jen ChangEmail: |
4.
This study examines whether privatization is associated with low public sector health care wages and with low probability
of public sector employment for health care providers. Findings suggest that privatization contributes significantly to low
wages of union health care providers in the public sector. Privatization also contributes to a low probability of public sector
employment in this industry, especially to unionized workers. These results indicate that competition enhancing policy can
promote lower labor costs even in a service sector that employs a highly skilled work force.
相似文献
James PeoplesEmail: |
5.
Sowing the seeds for the subprime crisis: does global liquidity matter for housing and other asset prices? 总被引:1,自引:0,他引:1
Ansgar Belke Walter Orth Ralph SetzerJr. 《International Economics and Economic Policy》2008,5(4):403-424
We assess the relationship between global liquidity and two important classes of asset prices on a global scale. For this
purpose, we estimate a variety of VAR models for the global economy using aggregated data which represent the major OECD countries.
According to the impulse responses obtained a positive shock to global liquidity raises the global house price index and later
on via commodity prices also the global GDP deflator to the same extent. Hence, we conclude that there are subsequent spill-over
effects from house prices to the overall price level. However, we are not able to find any empirical evidence in favor of
the hypothesis that stock prices significantly react to changes in global liquidity.
相似文献
Ralph Setzer Jr.Email: |
6.
In recent years, Europe has witnessed an accelerated process of economic integration. This paper analyzes how increased economic
integration has affected labor and product markets. We use a panel of Belgian manufacturing firms to estimate price-cost margins
and union bargaining power and show how various measures of globalization affect them. Import competition puts pressure on
both markups and union bargaining power, especially when there is increased competition from low wage countries. This suggests
that increased globalization is associated with a moderation of wage claims in unionized countries, which should be associated
with positive effects on employment.
相似文献
Stijn VanormelingenEmail: |
7.
This paper examines the degree of correlation, i.e. the synchronicity, among EU regional employment cycles and attempts to link it to changing patterns of specialisation. This topic deserves attention since the existing evidence seems to suggest a rather limited role for a region’s industry structure in explaining its employment growth. A dynamic panel data model is estimated for pairs of regions by within groups, i.e., by a standard fixed effects estimator. The results indicate that synchronicity between regions has declined and differences in regional industry structure can be held account for this.
相似文献
Jens M. HeineEmail: |
8.
Yifan Hu 《International Economics and Economic Policy》2006,3(1):27-42
A growing number of countries have anchored their monetary policy to an explicit numerical rate or range of inflation since
such an inflation targeting framework was first adopted by New Zealand in 1989. This paper empirically investigates economic
structure and institutional factors associated with a country’s choice of inflation targeting using a dataset of 66 countries
for the period of 1980–2000. It is found that a sound fiscal position is significantly and positively associated with the
choice of inflation targeting framework; the central bank is more likely to adopt inflation targeting with greater financial
depth; institutional capacity including central bank autonomy and flexible exchange rate regime is important for the choice
of inflation targeting.
相似文献
Yifan HuEmail: |
9.
Policy coordination in East Asia and across the Pacific 总被引:1,自引:1,他引:0
In this paper, we construct a macro-econometric model that describes the economic activity in the Asia-Pacific area and provide
quantitative insights into the recent policy debates on monetary and currency coordination among the East Asian economies.
The model includes a wide variety of monetary and currency policy rules that the East Asian economies adopt and allows for
one country's policymaking to have substantial effects on foreign countries. We apply the model to three current policy issues:
(1) the desirability of currency basket pegs in East Asia, (2) the anticipated effects of China's currency policy reform,
and (3) the non-negativity constraint on Japanese nominal interest rates. The simulation analyses show the external economy
effects of policy rules quantitatively and suggest the difficulty of monetary and currency policy coordination among the East
Asian economies.
相似文献
Koichiro Kamada (Corresponding author)Email: |
Izumi TakagawaEmail: |
10.
Kazuhiro Ohnishi 《International Economics and Economic Policy》2008,4(4):421-432
This paper examines an international mixed model in which a social-welfare-maximizing domestic public firm competes against
a profit-maximizing foreign private firm. First, the public firm can adopt either a lifetime employment contract or a wage-rise
contract as strategic commitments. Second, the foreign private firm decides whether or not to enter the market. Third, if
the foreign private firm enters, each firm independently chooses its actual output, while if the foreign private firm does
not enter, the public firm acts as a monopolist. The paper shows the equilibrium of the international mixed model.
相似文献
Kazuhiro OhnishiEmail: |
11.
Non-traded Goods,Technical Progress and Wages 总被引:2,自引:0,他引:2
We use a general equilibrium model of trade to show that technical improvement may indeed cause a fall in the wages of unskilled
workers. Under some modest conditions, the wages of skilled workers may go down too.
相似文献
Reza OladiEmail: |
12.
Ricardo Coelho de Faria Raul Yukiro Matsuhita Jorge Madeira Nogueira Benjamin Miranda Tabak 《Atlantic Economic Journal》2007,35(4):451-462
This paper shows that we can improve the statistical efficiency of dichotomous choice contingent valuation surveys by asking
a second open question (anchored open-ended approach) instead of the traditional double-bounded approach. The former approach
is shown to be more efficient than conventional single and double-bounded approaches using a Monte Carlo experiment, even
when we allow for strategic behavior from respondents such as protest votes and yea-saying behavior.
相似文献
Benjamin Miranda Tabak (Corresponding author)Email: |
13.
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: |
14.
FDI and the relevance of spatial linkages: do third-country effects matter for Dutch FDI? 总被引:2,自引:0,他引:2
The aim of this paper is to test for the relevance of spatial linkages for Dutch (outbound) foreign direct investment (FDI).
We estimate a spatial lag model for Dutch FDI to 18 host countries. After controlling for fixed effects, we find for our sample
period 1984–2004 that third-country effects matter. Apart from our benchmark spatial lag model, we also estimate various alternative
models by looking at European host FDI countries only, by dividing FDI into industry and services FDI, and by estimating a
spatial error model.
相似文献
Harry GarretsenEmail: |
15.
In the past, economic policy has largely adopted a sectoral approach to technology-related unemployment. More recently though,
wage subsidies have gained attention as an alternative means of reemployment, with the dispute on how best to cope with unemployment
still unsettled. However, despite the fact that results may differ, research mostly assumed a closed-economy setting. Based
on a HOS model with factor-augmenting technical change and labor-market rigidities, the paper examines the differences of
these two subsidization schemes on output and employment. Since both schemes work through different channels, namely the demand
versus the supply side, effects differ not only in magnitude. The paper includes a comparative calibration exercise for the
case of Germany.
相似文献
Daniel HorgosEmail: |
16.
The purpose in this note is first to review briefly the empirical results on the relationship between real interest rates
and real exchange rates; this empirical literature provides little support for the hypothesis of Roll that expected real interest
rates are equal in general. Our second aim is to discuss the theoretical conditions that have to be met for his hypothesis
to hold.
相似文献
David PeelEmail: |
17.
We examine the relation between a firm’s campaign contributions and lobbying expenditures and its Tobin’s q. We follow other studies that use q to measure the value of the firm’s intangible capital (e.g., the value of advertising, R&D, or environmental performance).
Researchers have found a positive and significant relation between intangible assets and q. If political capital exists, it is an intangible asset. However, we find little relation between q and political contributions, suggesting that campaign contributions may not have long term effects on political markets.
This is consistent with the view that contributions are done by firms as a response to a short term opportunity not as a way
of building long-term political capital.
相似文献
Christopher PopeEmail: |
18.
This paper contributes to the ongoing debate on the causes of international co-movements of macroeconomic variables. In particular,
existing real business cycle models predict cross-country consumption correlations to be higher than in the actual data, cross-country
output correlations to be lower than in the actual data, and cross-country consumption correlations to be relatively higher
than the output correlations. We show that cross-country correlations of consumption, investment, employment and output predicted
by a standard international real business cycle model are highly sensitive to the share of capital goods in total trade. Our
calibrated model shows that when capital goods account for a share of total traded goods greater than 50%, the apparent discrepancy
between the data and the simulations is resolved.
相似文献
Thomas P. BarbieroEmail: |
19.
The NLSY dataset is utilized to measure the extent of employer wage discrimination between white and black males during their
first 5 years of post-school employment. We look at the respondent’s first job and the jobs 1 and 5 years after school completion.
Oaxaca wage decompositions are employed to gauge the effect of discrimination. Consistent with our hypothesis, we find that
the discrimination component of the wage gap falls over time. For the first job out of school the unexplained wage gap between
blacks and whites is 35%. By year 5, the unexplained component falls to about 13%. Thus, while discrimination continues to
play a role in explaining the white–black wage gap over time, its impact decreases as time in the labor market increases.
相似文献
Francesco RennaEmail: |
20.
Caroline Schmidt 《Open Economies Review》2007,18(3):347-367
In this paper, it is argued that the observed high positive correlation between national savings and investment which is found
in the data can in part be explained by shocks to monetary policy. This hypothesis, which is established by reviewing some
empirical findings, is tested in a two-country DSGE-model framework in the tradition of the New Open Economy Macroeconomics.
The simulation results obtained support the idea that shocks to monetary policy might contribute to the explanation of the
Feldstein-Horioka puzzle.
相似文献
Caroline SchmidtEmail: |