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71.
Isabel Pardo García 《International Advances in Economic Research》2005,11(4):459-467
The aim of this paper is to analyze the economic and social cohesion in the European Union. There are different factors to
explain the convergence process and besides, empirical findings are not conclusive. To the European Union, GDP per head interregional
differences have decreased for certain periods but it has remained unchanged or even increased for others periods. The second
report on the economic and social cohesion indicates that some decades are necessary to eliminate regional differences. These
differences in regional GDP are mainly explained by differences in their productive structures, degree of innovate activity,
communications structures, which depend on the relative level of transport infrastructures, and manpower qualifications. This
analysis allows us to obtain some conclusions to the economic policies and the social cohesion.
A preliminary version of this paper was presented in the 57th International Atlantic Conference, held in Lisbon, Portugal,
March 10–14, 2004. 相似文献
72.
We offer a new algorithm for analyzing innovation timing games. Its main advantage over the traditional approach is that it applies to problems that had previously been intractable. We use the algorithm to examine two classical innovation problems. We find that the competition takes the form of a waiting game with a second-mover advantage either for any level of R&D costs (process innovation) or for high R&D costs (product innovation). Moreover, both models predict that the second-mover advantage is monotonically increasing in the costs of R&D. 相似文献
73.
Summary In this paper we consider a class of time discrete intertemporal optimization models in one dimension. We present a technique to construct intertemporal optimization models with nonconcave objective functions, such that the optimal policy function coincides with any pre-specifiedC
2 function. Our result is a variant of the approach presented in a seminal paper by Boldrin and Montrucchio (1986). Whereas they solved the inverse problem for the reduced form models, we address the different question of how to construct both reduced and primitive form models. Using our technique one can guarantee required qualitative properties not only in reduced, but also in primitive form. The fact that our constructed model has a single valued and continuous optimal policy is very important as, in general, nonconcave problems yield set valued optimal policy correspondences which are typically hard to analyze. To illustrate our constructive approach we apply it to a simple nonconcave model.We are grateful for the helpful comments of L. Montrucchio, K. Nishimura, T. Mitra and an anonymous referee. Financial support of the Austrian Science Foundation under contract No. P7783-PHY and No. J01003-SOZ is gratefully acknowledged. This paper was written while M. Kopel was visiting the Department of Economics, Cornell University. 相似文献
74.
This paper considers a linear triangular simultaneous equations model with conditional quantile restrictions. The paper adjusts for endogeneity by adopting a control function approach and presents a simple two-step estimator that exploits the partially linear structure of the model. The first step consists of estimation of the residuals of the reduced-form equation for the endogenous explanatory variable. The second step is series estimation of the primary equation with the reduced-form residual included nonparametrically as an additional explanatory variable. This paper imposes no functional form restrictions on the stochastic relationship between the reduced-form residual and the disturbance term in the primary equation conditional on observable explanatory variables. The paper presents regularity conditions for consistency and asymptotic normality of the two-step estimator. In addition, the paper provides some discussions on related estimation methods in the literature. 相似文献
75.
For a balanced two-way mixed model, the maximum likelihood (ML) and restricted ML (REML) estimators of the variance components were obtained and compared under the non-negativity requirements of the variance components by L ee and K apadia (1984). In this note, for a mixed (random blocks) incomplete block model, explicit forms for the REML estimators of variance components are obtained. They are always non-negative and have smaller mean squared error (MSE) than the analysis of variance (AOV) estimators. The asymptotic sampling variances of the maximum likelihood (ML) estimators and the REML estimators are compared and the balanced incomplete block design (BIBD) is considered as a special case. The ML estimators are shown to have smaller asymptotic variances than the REML estimators, but a numerical result in the randomized complete block design (RCBD) demonstrated that the performances of the REML and ML estimators are not much different in the MSE sense. 相似文献
76.
This study is the first to use Johansen's cointegration approach for India in the analysis of the long‐term dynamics between the black and official exchange rates for the period 1953–1993. The study also estimates the long‐run elasticity of the official rate with respect to the black market rate. As monthly data over 40 years are used, and a more robust methodology is employed, the results are likely to be more reliable as compared with the earlier work on India. The results of our study suggest that while there is a long‐term relationship between the two rates, the direction of causality is from the black rate to the official exchange rate. This is plausible in the Indian context where policy has generally lagged behind events in the black market. The hypothesis of a constant black market premium is rejected, implying that there is a mismatch between the percentage change in the official exchange rate and the percentage change in the black market rate. 相似文献
77.
78.
We formalize the link between optimal cost-sharing contracts and the production technology in the presence of moral hazard by appealing to several well-known results from duality theory. Building on intuitions from the interlinkage literature, we show that optimal contractual structure is determined by the (i) substitution possibilities that exist between different observable factor inputs, as well as (ii) between these inputs and unobservable effort. We endogenize contractual choice using landlord characteristics as instruments, exploiting the fact that, in our dataset, landlords interact with several tenants and vice versa. The approach is applied to an unbalanced plot-level panel of cost-sharing contracts in a Tunisian village, using a translog representation of the restricted profit function. Contractual terms are found to be a significant determinant of input use and therefore lead to Marshallian inefficiency, while the optimality of the underlying contractual structure is rejected. 相似文献
79.
We document the substantial process of structural transformation—the reallocation of labor between agriculture, manufacturing,
and services—and aggregate productivity growth undergone by Portugal between 1956 and 1995. We assess the quantitative role
of sectoral labor productivity in accounting for these processes. We calibrate a model of the structural transformation to
data for the United States and use the model to gain insight into the factors driving the structural transformation and aggregate
productivity growth in Portugal. The model implies that Portugal features low and roughly constant relative productivity in
agriculture and services (around 22%) and a modest but growing relative productivity in manufacturing (from 44 to 110%). We
find that productivity growth in manufacturing accounts for most of the reduction of the aggregate productivity gap with the
United States and that a further closing of this gap can only be accomplished via improvements in the relative productivity
of services.
This paper was written while the authors were affiliated with the Federal Reserve Bank of Richmond. We would like to thank
the editor, two anonymous referees, and participants at the Third Conference on Portuguese Economic Development in the European
Context organized by the Bank of Portugal for their comments. All errors are our own. 相似文献
80.
Stochastic stability in networks with decay 总被引:1,自引:0,他引:1
Francesco Feri 《Journal of Economic Theory》2007,135(1):442-457
This paper considers a stylized model of network formation in which relations among agents are subject to frictions, as described in Bala and Goyal [A non cooperative model of network formation, Econometrica 68 (2000) 1181-1231]. We analyze the process of network formation in a dynamic framework where self-interested individuals can form or delete links and, occasionally, make mistakes. Then, using stochastic stability, we identify the network structures to which the formation process will converge. 相似文献