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111.
Matthias Wrede 《Economics of Governance》2002,3(2):135-151
A major role of (repeated) elections is to create incentives for politicians to act in the interests of voters. This paper
considers the disciplining role of elections in countries with either one or two levels of government. Simple retrospective
voting strategies which are based on cut-off levels with respect to expenditure and tax rates are considered. It is shown
that the power of voters is weakened if a second independent level of government is added. However, voters can partially reinforce
their power by making politicians not only liable for their own policy, but also for the policy carried out at each other
level of government.
Received: June 30, 2000 / Accepted: April 4, 2001 相似文献
112.
This paper discusses whether Local Monotonicity (LM) should be regarded as a property of the power distribution of a specific voting game under consideration, indicated by a power measure, or as a characteristic of power per se. The latter would require reasonable power measures to satisfy a corresponding LM axiom. The former suggests that measures which do not allow for a violation of LM fail to account for dimensions of power which can cause nonmonotonicity in voting weight. Only if a measure is able to indicate nonmonotonicity, it can help design voting games for which power turns out to be monotonic. The argument is discussed in the light of recent extensions of traditional power indices. 相似文献
113.
Dennis Coates 《Economics of Governance》2000,1(3):233-259
This paper examines the influences on voting by members of the House of Representatives on the Carter Administration's welfare
reform legislation. The analysis finds some support for the hypothesis that voting by national legislators responded to the
potential mobility of welfare recipients from low to high benefit states. Defining the public interest as promoting economic
growth and the special interest as increasing redistribution, the results also provide evidence in support of the Stigler
hypothesis that politically secure legislators are better able to vote the public, as opposed to the special, interest.
Received: July 15, 1998 / Accepted: August 6, 1999 相似文献
114.
This paper studies the political economy of urban traffic policy. A city council and a regional government (representing city and suburbs) decide respectively on parking fees and a road toll. Both charges are below the optimum when median voters in city and suburbs prefer cars to public transport sufficiently more than the average. Even if the city government would set an optimal road toll, the regional government blocks it when the median suburban voter prefers cars strongly enough. Letting the city control parking and road pricing may therefore increase chances of adoption of the latter. However, if the city controls parking and the region road pricing, the combined charges are higher than if the city controlled them both. Hence, when voters want all charges below the optimum, the involvement of two governments may be desirable. We also find that earmarking road pricing revenues for public transport is welfare-enhancing, compared to lump-sum redistribution, only if they are topped up by extra funds granted to the city by a higher level of government. 相似文献
由于我国关于累积投票制立法上的缺陷,使得累积投票制实质上被架空,预期作用被抑制,反而成为股东争权夺利的焦点.在实际操作中,它更有可能被大股东变相规避,沦为大股东掩饰公司表决结果实质不平等的工具.累积投票制对于改进公司治理结构的效用的发挥,仍有待我国公司法律制度、配套措施的完善及具体操作规则的规范. 相似文献
116.
本文利用我国2006~2014年沪深A股非金融类上市企业数据,研究终极控股股东对企业风险承 担的影响以及融资约束在该影响中的作用。结果表明,控股股东现金流权对企业风险承担的 影响呈U型结构,随现金流权的增大,现金流权对企业风险承担的影响由正转负。就我国市 场而言,控制权与现金流权的分离度对企业风险承担具有负向影响,这种负向影响程度随融 资约束的提高而减弱。 相似文献
117.
We study costly majority voting when voters rationally anticipate others have similar preferences. The correlation in preferences
lowers expected turnout because votes have a positive externality on those who abstain. We study the effects of the public
release of information (polls) on participation levels. Polls raise expected turnout but reduce expected welfare because they
stimulate the “wrong” group to participate resulting in a “toss-up” election. Our novel results highlight the adverse effects
of providing information about the electorate’s preferences and may explain why some countries bar opinion polls close to
an election date. 相似文献
118.
We show that if the statistical distribution of utility functions in a population satisfies a certain condition, then a Condorcet winner will not only exist, but will also maximize the utilitarian social welfare function. We also show that, if people’s utility functions are generated according to certain plausible random processes, then in a large population, this condition will be satisfied with very high probability. Thus, in a large population, the utilitarian outcome will be selected by any Condorcet consistent voting rule. 相似文献
119.
Pingping Wang Shaorong Sun 《中国经济评论(英文版)》2004,3(8):74-78
This paper deals with the security voting structure in an auction mechanism used to sell an item Of high-tech. The design of security voting structure allows the seller to choose between two objectives that are not mutually consistent. However, if the seller wants to maximize his revenue, he should retain some shares to benefit from the future dividends generated by the acquirer. In addition, if he wants to sell his high-tech to the most efficient candidate, he should sell all the shares. 相似文献
120.
Petra GerlachKristen 《The Scandinavian journal of economics》2004,106(2):299-313
It is shown that the voting record of the Monetary Policy Committee of the Bank of England helps predict future policy rate changes. This result is robust to the inclusion of market participants’ expectations as measured by the slope of the term structure of money market rates and interest rate futures. Moreover, expectations seem to adjust to the information contained in the voting record, which suggests that publishing the minutes of MPC meetings increases the transparency of monetary policy. 相似文献