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191.
We study the effect of inequality in the distribution of endowments of private inputs (e.g., land, wealth) that are complementary in production with collective inputs (e.g., contribution to public goods such as irrigation and extraction from common-property resources) on efficiency in a class of collective action problems. We focus on characterizing the joint surplus maximizing level of inequality, making due distinction between contributors and non-contributors, in a framework that allows us to consider a wide variety of collective action problems ranging from pure public goods to impure public goods to commons. We show that while efficiency increases with greater equality within the groups of contributors and non-contributors, so long the externalities (positive or negative) are significant, there is an optimal degree of inequality between these groups. 相似文献
192.
This paper introduces the idea of “robust political economy.” In the context of political economic systems, “robustness” refers
to a political economic arrangement's ability to produce social welfare-enhancing outcomes in the face of deviations from
ideal assumptions about individuals' motivations and information. Since standard assumptions about complete and perfect information,
instantaneous market adjustment, perfect agent rationality, political actor benevolence, etc., rarely, if ever actually hold,
a realistic picture and accurate assessment of the desirability of alternative political economic systems requires an analysis
of alternative systems' robustness. The Mises-Hayek critique of socialism forms the foundation for investigations of robustness
that relax ideal informational assumptions. The Buchanan-Tullock public choice approach complements this foundation in forming
the basis for investigations of robustness that relax ideal motivational assumptions.
JEL Code B53, P16, P26 相似文献
193.
美国财政分权的效率分析 总被引:2,自引:0,他引:2
美国作为一个高度发达的市场经济国家,不但在经济发展领域里取得了令人瞩目的成就,而且在制度的设计、创新和发展等方面也有许多值得借鉴之处,美国财政分权体制就是其中之一.本文在分析财政分权效率的含义及要求的基础上,从美国政府问事权和财权划分明确且相互匹配、科学合理的转移支付制度、分权与制衡并存的预算机制、地方政府自治以及整个财政分权体制的法律依据等方面分析了美国财政分权高效的原因. 相似文献
194.
Tetsuo Ono 《Economic Theory》2007,33(3):549-577
Pension benefits in old age establish a disincentive to save in youth, thereby yielding lower levels of capital stock and
the wage rate. As a result, the trade union has an incentive to change the composition of its two targets: employment and
the wage rate. This paper develops a model that includes employment effects of public pensions via capital accumulation and
union wage setting. Within this framework, we consider how contribution rates to the pension system influence the level and
time path of the unemployment rate. It is demonstrated that (1) a higher contribution rate results in a lower unemployment
rate, and (2) the economy with a high (low) contribution rate experiences monotone convergence towards (oscillatory convergence
towards or a period-2 cycle around) the steady state.
The author would like to thank an anonymous referee, Kazutoshi Miyazawa, and seminar participants at Osaka University for
their useful comments and suggestions, and Masako Ikefuji and Hiroaki Yamagami for their research assistance. Financial support
from the Japan Society for the Promotion of Science (JSPS) through a Grant-in-Aid for Young Scientists (B) (No.17730131),
the Asahi Glass Foundation, the Japan Economic Research Foundation and the 21st Century COE Program (Osaka University) is
gratefully acknowledged. All remaining errors are mine. 相似文献
195.
论农村公共财政建设的制度环境与模式选择 总被引:3,自引:0,他引:3
公共品的层次性、成本补偿原理、均等化以及民主决策理论等是中国农村公共财政建设的一般理论基础。而农村经济制度、经济水平和结构、意识形态、民主水平等构成我国农村公共财政模式选择的现实制约条件。中国农村公共财政应是公共品供给体制上的分级财政、筹资体制上的向内倾斜型财政、决策体制上的民主型财政、管理体制上的法制型财政和反映农村社会经济变化的动态发展型财政。 相似文献
196.
基层财政解困:一个财政体制变迁的分析框架 总被引:1,自引:0,他引:1
基层财政困难已影响到部分地方经济发展与社会稳定,是迫切需要解决的问题.基层财政陷入困境的最直接根源是财政体制不规范,事权与财权高度不对称.解困的根本出路在于规范政府间财政关系,进行财政体制创新.但财政体制变迁不能局限于边际微调,须考虑政府财政级次问题.本文提出推行"省管县"体制与撤消乡镇级政府两项改革,将政府层级由五级简化为三级,对应形成三级财政.并以这三级财政为架构,重新设计财政体制,合理配置政府间事权财权,以推动基层财政彻底解困. 相似文献
197.
Policies such as the SEC’s Fair Disclosure Rule, and technologies such as SEC EDGAR, aim to disseminate corporate disclosures
to a wider audience of investors in risky assets. In this study, we adopt an experimental approach to measure whether this
wider disclosure is beneficial to these investors. Price-clearing equilibrium models based on utility maximization and non-revealing
and fully-revealing prices predict that in a pure exchange economy, an arbitrary trader would prefer that no investors are
informed rather than all are informed; non-revealing theory further predicts that an arbitrary trader would prefer a situation
in which all traders are informed rather than half the traders are informed. These predictions can be summarized as “None
> All > Half”. A laboratory study was conducted to test these predictions. Where previous studies have largely focused on
information dissemination and its effects on equilibrium price and insider profits, we focus instead on traders’ expected
utility, as measured by their preferences for markets in which none, half, or all traders are informed. Our experimental result
contradicts the prediction and indicates “Half > None > All”, i.e. subjects favor a situation where a random half is informed.
The implication is that in addition to testing predictions of price equilibrium, experiments should also be used to verify
analytical welfare predictions of expected utility under different policy choices.
JEL Classification D82, D53, G14, L86
This work was largely completed while this author was at The Hong Kong University of Science and Technology. 相似文献
198.
We examine the effects of public ownership and regulatory agency independence on regulatory outcomes in EU telecommunications.
Specifically, we study regulated interconnect rates paid by entrants to incumbents. We find that public ownership of the incumbent
positively affects these interconnect rates, and suggest that governments influence regulatory outcomes in favor of incumbents
in which they are substantially invested. However, we also find that the presence of institutional features enhancing regulatory
independence from the government mitigates this effect. In order to study regulatory independence, we introduce a new cross-country
time-series database—the European Union Regulatory Institutions (EURI) Database. This database describes the development of
institutions bearing on regulatory independence and quality in telecommunications in the 15 founding EU member states from
1997 to 2003
*We thank Laurent Pipitone for superb research assistance. Geoff Edwards thanks the Sasakawa Foundation and the Institute
of Management, Innovation and Organization at the Haas School of Business for generous financial assistance, and London Business
School for non-financial support. Leonard Waverman thanks the Global Communications Consortium for support 相似文献
199.
Beniamina Buzzo Margari Fabrizio Erbetta Carmelo Petraglia Massimiliano Piacenza 《Journal of Regulatory Economics》2007,32(2):131-151
This paper assesses the impact of regulatory and environmental factors and statistical noise on the efficiency of public transit
systems within a DEA-based framework. Using a panel of Italian companies, we implement a DEA-SFA mixed approach based on [H.O.
Fried et al. (2002) Journal of Productivity Analysis, 17(1–2), 157–174] to decompose DEA inefficiency measures into three components: exogenous effects, managerial inefficiency and
stochastic events. Besides providing evidence on the determinants of input-specific efficiency differentials across companies,
the results point out that managerial skills play a minor role, and emphasize the relevance of regulatory policies aimed at
replacing cost-plus subsidization with high-powered incentive contracts as well as improving environmental conditions of public
transit networks.
相似文献
200.