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301.
José Ramón Cancelo Estefanía Mourelle 《International Advances in Economic Research》2005,11(2):135-147
This paper applies smooth transition models to capture the nonlinear behavior in the imports data of six major European economies and to assess whether such nonlinearities are related to business cycle asymmetries. Two classes of switch between regimes are considered: endogenously determined transition that assumes nonlinearities are generated by idiosyncratic components specific to foreign trade, and exogenous transition based on GDP growth as a more direct indicator of the cyclical state of the economy. The results support the proposition that the dynamics of imports are nonlinear. In Belgium, France, Spain, and the United Kingdom, regimes change over the business cycle, while in Germany and Italy the switch between regimes is endogenous. National characteristics play a role in defining the position of extreme regimes, the smoothness of the transition, and local dynamics within each state.Previous versions of this article have been presented at the 57th International Atlantic Economic Conference (Lisbon, Portugal, March 10–14, 2004) and at the VII Encuentro de Economía Aplicada (Vigo, Spain, June 3–5, 2004). The authors thank the conference participants and an anonymous referee for their comments. 相似文献
302.
This paper empirically investigates the development of cross-country differences in energy- and labour productivity. The analysis
is performed at a detailed sectoral level for 14 OECD countries, covering the period 1970–1997. A σ-convergence analysis reveals
that the development over time of the cross-country variation in productivity performance differs across sectors as well as
across different levels of aggregation. Both patterns of convergence as well as divergence are found. Cross-country variation
of productivity levels is typically larger for energy than for labour. A β-convergence analysis provides support for the hypothesis
that in most sectors lagging countries tend to catch up with technological leaders, in particular in terms of energy productivity.
Moreover, the results show that convergence is conditional, meaning that productivity levels converge to country-specific
steady states. Energy prices and wages are shown to positively affect energy- and labour-productivity growth, respectively.
We also find evidence for the importance of economies of scale, whereas the investment share, openness and specialization
play only a modest role in explaining cross-country variation in energy- and labour-productivity growth.
相似文献
303.
We study the distribution of basic scientific research across countries and time, and explain the process that resulted in
the United States becoming the undisputed leader in basic research. Our study is based on the records of scientific awards,
and on the data of global economic trends. We investigate the degree to which scale/threshold effects account for the number
of prizes won. We constructed a stylized model, predicting a non-linear relationship with lagged relative GDP as an important
explanatory variable of a country’s share of prizes. Our empirical research findings find support for these predictions and
the presence of a “winner-takes-all” effect.
相似文献
304.
Satoru Kasahara Sergey Paltsev John Reilly Henry Jacoby A. Denny Ellerman 《Environmental and Resource Economics》2007,37(2):377-410
In 2003 Japan proposed a Climate Change Tax to reduce its CO2 emissions to the level required by the Kyoto Protocol. If implemented, the tax would be levied on fossil fuel use and the
revenue distributed to encourage the purchase of energy efficient equipment. Analysis using the MIT Emissions Prediction and
Policy Analysis (EPPA) model shows that this policy is unlikely to bring Japan into compliance with its Kyoto target unless
the subsidy encourages improvement in energy intensity well beyond Japan’s recent historical experience. Similar demand-management
programs in the US, where there has been extensive experience, have not been nearly as effective as they would need to be
to achieve energy efficiency goals of the proposal. The Tax proposal also calls for limits on international emission trading.
We find that this limit substantially affects costs of compliance. The welfare loss with full emissions trading is 1/6 that
when Japan meets its target though domestic actions only, the carbon price is lower, and there is a smaller loss of energy-intensive
exports. Japan can achieve substantial savings from emissions trading even under cases where, for example, the full amount
of the Russian allowance is not available in international markets. 相似文献
305.
This paper examines the growth effects of intellectual property right (IPR) protection in a quality-ladder model of endogenous
growth. Stronger IPR protection, which reduces the imitation probability, increases the reward for innovation. However, stronger
protection also gradually reduces the number of competitive sectors, in which innovation is easier than in monopolistic sectors.
With free entry to R&D, the number of researchers in each remaining competitive sector increases, but the concentration of
R&D activity raises the possibility of unnecessary duplication of innovation, thereby hindering growth. Consequently, imperfect
rather than perfect protection maximizes growth. Welfare and scale effects are also examined. 相似文献
306.
307.
It is generally acknowledged that the growth rate of output, the seasonal pattern, and the business cycle are best estimated
simultaneously. To achieve this, we develop an unobserved component time series model for seasonally unadjusted US GDP. Our
model incorporates a Markov switching regime to produce periods of expansion and recession, both of which are characterized
by different underlying growth rates. Although both growth rates are time-varying, they are assumed to be cointegrated. The
analysis is Bayesian, which fully accounts for all sources of uncertainty. Comparison with results from a similar model for
seasonally adjusted data indicates that the seasonal adjustment of the data significantly alters several aspects of the full
model.
First Version Received: January 2001/Final Version Received: February 2002
Send offprint requests to: Rob Luginbuhl?Correspondence to: Rob Luginbuhl 相似文献
308.
Encouraging firms to develop voluntarily more comprehensive environmental management systems (EMSs) is touted as a policy
tool to augment mandatory environmental regulations. Using a unique dataset of environmental management practices of Japanese
manufacturers and controlling for self-selection bias in survey responses, we find that proxies for regulatory pressures and
consumer pressures are the most important factors that motivate firms toward more comprehensive EMSs. Despite the oft-claimed
“voluntary” nature of EMS development, our results show that the government may have a role to play in both directly and indirectly
affecting EMS development by firms.
相似文献
309.
Our matching problems feature agents with endowments facing certain division rules. At any matching, the endowments of agents are reallocated between the matched pairs according to some given division rule, and this opens doors to an iterated matching problem and rematching, and to manipulation of some matching rules via segmentation. In this form of manipulation a coalition breaks off from the rest, matches within itself and rejoins the complementary coalition for a rematching at the new endowment profile. Under certain division rules this may benefit the coalition who breaks off without hurting the complementary coalition. Furthermore, both may benefit by first matching internally and then rejoining for a new match. 相似文献
310.
Summary. The requirement that a voting procedure be immune to the strategic withdrawal of a candidate for election can be formalized
in different ways. Dutta, Jackson, and Le Breton (Econometrica, 2001) have recently shown that two formalizations of this candidate stability property are incompatible with some other
desirable properties of voting procedures. This article shows that Grether and Plott's nonbinary generalization of Arrow's
Theorem can be used to provide simple proofs of two of their impossibility theorems.
Received: August 15, 2001; revised version: March 11, 2002
RID="*"
ID="*" Parts of this article were previously circulated in somewhat different form in a working paper with the same title
by the second author. We are grateful to Michel Le Breton and an anonymous referee for their comments.
Correspondence to:J.A. Weymark 相似文献