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51.
52.
The purpose of this paper is to explode the myth of free trade. Productivity and real wages in the United States rose sharply between 1950 and 1972, but since then real earnings have been falling in spite of a continuous rise in productivity. It turns out that America was more or less a closed economy until 1972, as its trade/GNP ratio was close to 10%; but since then it has become an open economy. the theoretical model shows how real wages may fall in an open economy, but not in a closed economy, in spite of rising productivity.  相似文献   
53.
Using firm-level data from the 1986 Census of Manufactures of Taiwan, we examine the links between technical efficiency and firm investments in technology and exports. Stochastic production frontier techniques are used to estimate the technical efficiency of firms by investments in technology as well as by export orientation. Our results indicate that accounting for firm investments in technology is critical in explaining the strong export-productivity link in the extant literature. For the group of large, high technology firms, the differences in the mean efficiencies between exporters and non-exporters are not significantly different than zero in all nine industries under study. However, for the large number of small firms that make no formal investments in technology. exporters are significantly closer to the production frontier than their counterparts that sell in the domestic market.  相似文献   
54.
Based on a cross-section of US states for 2004, this article estimates a demand function for cigarettes after including a proxy for prices in the bordering states and simple proxies for contiguity with Mexico and Canada and for being a major tobacco producer. One major point seems to be that the negative elasticity for within-state price is similar in magnitude to the positive elasticity for the (lowest) price in bordering states. Several additional points also seem noteworthy. First, having a border with Mexico lowers sales in the state sizably. Second, the share of Hispanic/Latino population in the state also lowers sales significantly. Third, contiguity with Canada appears to have no significant effect. Fourth, partial impact of the state being a major tobacco producer appears minor even though consumption in these states is considerably higher. Fifth, education shows the expected negative association with cigarette consumption, but its statistical significance is low. Last, income carries a weak negative parameter, perhaps reflecting the lower prevalence of smoking in higher-income households.  相似文献   
55.
This article uniquely considers influences of political uncertainty on corruption. Political uncertainty disturbs existing corrupt (and legal) contractual relations inducing greater corrupt activity to strengthen existing alliances and foster new ones. Results across two measures of cross-national corruption show that political assassinations increase corruption in different variations and time periods, and a general index of political instability mostly has the same effect. The influences of other factors on corruption are in general accord with the literature. These findings are generally robust to consideration of alternate dimensions of political uncertainty.  相似文献   
56.
57.
Using a short-run partial equilibrium model of social welfare, this paper examines the social welfare implications of changing Pigouvian taxes under three markets: perfect competition, monopoly, and Cournot oligopoly. The result for perfect competition supports the earlier finding that Pigouvian taxation increases social welfare [Buchanan, 1969]. However, in contrast to the previous result that Pigouvian taxes lower welfare under monopoly, the authors show that if the noncompetitive distortion is small, these taxes might still be useful in correcting monopoly-generated externalities and in improving social welfare. Cournot firms react to the tax depending upon their individual perceptions of the gain in post-tax marginal revenue. Policy implications of the study's results are discussed.  相似文献   
58.
Abstract. This paper modifies the simple classical model by introducing capacity utilization that varies across the course of the business cycle. By making the capacity usage a choice variable that turns out to be sensitive to changes in the price level, we show that the classical model loses its fundamental feature, namely the neutrality of money. In our generalized framework, a rise in money supply improves upon all the real variables if the economy suffers from excess capacity, as in recessions and depressions. We demonstrate that our model describes the various economic cross‐currents during the Great Depression extremely well. Thus, monetary policy emerges with an activist role even in a generally classical setting.  相似文献   
59.
Technological Capability and Firm Efficiency in Taiwan (China)   总被引:2,自引:0,他引:2  
This article highlights the importance of firms' own investmentsin technological capability. Recent research on the nature andextent of technical change in developing countries shows thatthe accumulation of technological capability should be treatednot as a by-product of some other activity but as an activityin its own right. This research also points to the criticalrole of firms and indicates that firm-level efforts to obtaininternational knowledge may have higher payoffs when accompaniedby complementary investments in the development of in-housetechnological capabilities. Using micro data from Taiwan (China), the authors estimate thetechnical efficiency of firms. They proxy firm-level effortsat modifying or adapting technology by expenditures on researchand development and on-the-job training. They then use a stochasticproduction frontier model to estimate the correlation of a firm'sefficiency both with investments in training and research anddevelopment and with international linkages (such as exporting,direct foreign investment, and foreign technology licenses).The evidence from manufacturing firms in Taiwan suggests thatefficiency is positively correlated with the firm's investmentsin training and research and development and with its informalcontacts with foreign purchasers through export sales.  相似文献   
60.
This paper uses 336 state tax changes across the U.S. spanning 42 years (1956–1997) to provide an updated look at the quasi-experimental price elasticities of cigarette demand. It also studies the sensitivity of these elasticity estimates to changes in the cigarette market over time as well as their sensitivity to border-effect purchases. Besides replicating earlier findings, the results show a downward trend in these elasticities over time and sensitivity to border effect purchases. Policy implications are discussed. We dedicate this article to the memory of Julian Simon.  相似文献   
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