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排序方式: 共有106条查询结果,搜索用时 15 毫秒
1.
We consider an environment where two education institutions compete by selecting the proportion of their funding devoted to teaching and research and the criteria for admission for their students, and where students choose whether and where to attend university. We study the relationship between the cost incurred by students for attending a university located away from their home town and the equilibrium configuration that emerges in the game played by the universities. Symmetric equilibria, where universities choose the same admission standard, only exist when the mobility cost is high; when the mobility cost is very low, there is no pure strategy equilibrium. For intermediate values of the mobility cost, only asymmetric equilibria may exist; the final section of the paper provides an example where asymmetric equilibria do indeed exist for a plausible and robust set of parameters. 相似文献
2.
This paper investigates the impact of an exogenous increase in the legal retirement age on the firms’ propensity to provide welfare services voluntarily to their employees. To this purpose we exploit a unique information derived from the Rilevazione su Imprese e Lavoro (RIL), a survey conducted in 2015 on a large and representative sample of Italian firms. Applying different regression models we show that firms which were forced to give up previously planned hirings because of the Law 201/2011 (the so-called ‘Fornero pension reform’), increased the probability of providing welfare services at workplace. By referring to the sociological, human resource management and economic literature we then argue that a sudden increase in the legal retirement age may motivate the employers to establish welfare schemes as a way to cope with an ageing workforce. Our findings also hold when propensity score matching methods are used in order to control for sample selection issues. 相似文献
3.
Risk and Capital Structure in the Regulated Firm 总被引:1,自引:0,他引:1
This paper studies the role of capital structure in a regulated firm. We show that it affects the prices set by the regulator, the expected price being lower the higher the proportion of debt finance. However, when debt is increased beyond a certain level, the benefit of lower expected prices is offset by their increased variability. We also study the socially preferred capital structure. This is such that consumers carry some risk, in the form of higher prices in adverse economic conditions. 相似文献
4.
Motivated by the common problem of constructing predictive distributions for daily asset returns over horizons of one to several trading days, this article introduces a new model for time series. This model is a generalization of the Markov normal mixture model in which the mixture components are themselves normal mixtures, and it is a specific case of an artificial neural network model with two hidden layers. The article uses the model to construct predictive distributions of daily S&P 500 returns 1971–2005 and one‐year maturity bond returns 1987–2007. For these time series the model compares favorably with ARCH and stochastic volatility models. The article concludes by using the model to form predictive distributions of one‐ to ten‐day returns during volatile episodes for the S&P 500 and bond return series. Copyright © 2010 John Wiley & Sons, Ltd. 相似文献
5.
In this paper, we present a practical methodology for variance estimation for multi‐dimensional measures of poverty and deprivation of households and individuals, derived from sample surveys with complex designs and fairly large sample sizes. The measures considered are based on fuzzy representation of individuals' propensity to deprivation in monetary and diverse non‐monetary dimensions. We believe this to be the first original contribution for estimating standard errors for such fuzzy poverty measures. The second objective is to describe and numerically illustrate computational procedures and difficulties in producing reliable and robust estimates of sampling error for such complex statistics. We attempt to identify some of these problems and provide solutions in the context of actual situations. A detailed application based on European Union Statistics on Income and Living Conditions data for 19 NUTS2 regions in Spain is provided. 相似文献
6.
This paper analyzes the importance of individual and place characteristics on the selection into self-employment in Chile. Following a structural and multilevel empirical approach, we test whether both sets of variables explain the variation of individual wages, self-employed earnings, and the propensity of being in independent work. The results indicate that while most of the variation in these three outcomes is explained by individuals’ traits, place-related variables account for a non-negligible share of spatial variation. Second, as suggested by occupational choice theories, the propensity of being in self-employment positively correlates with larger expected earning differentials, but only in the case of employers. This, along with other results, suggests that while employers seem to choose their occupational status, own accounts in Chile seem to respond to factors pushing them into self-employment. 相似文献
7.
The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I — the gold standard (1883–1893), floating
rates (1894–1902), and “gold shadowing” (1903–1911)—produced a puzzling result: formal adherence to the gold standard ended
in failure while shadowing the gold standard proved very successful. This paper discusses the main policies underlying Italy’s
performance particularly focusing on the strategy of reserve accumulation. It presents a cointegration analysis identifying
a distinct co-movement between exchange rate, reserves, and banknotes that holds over the three sub-periods of the sample.
Given this long-run relationship, the different performance in each regime is explained by the diversity of policy measures,
reflected in the different variables adjusting the system in the various regimes. Italy’s variegated experience during the
gold standard provides a valuable lesson about current developments in the international scenario, showing the central role
of fundamentals and consistent policies. 相似文献
8.
This paper studies the demand for tobacco products in post-unification Italy. We construct a very detailed panel data set of yearly consumption in the 69 Italian provinces from 1871 to 1913 and use it to estimate the demand for tobacco products. We find support for the Becker and Murphy (J Polit Econ 96:675–700, 1988) rational addiction model. We also find that, in the period considered, tobacco was a normal good in Italy: aggregate tobacco consumption increased with income. Subsequently, we consider separately the four types of products which aggregate tobacco comprises (fine-cut tobacco, snuff, cigars, and cigarettes), and tentatively suggest that habit formation was a stronger factor on the persistence of consumption than physical addiction. The paper ends by showing that the introduction of the Bonsack machine in the early 1890s did not coincide with changes in the structure of the demand for tobacco, suggesting cost-driven technological change. 相似文献
9.
Gianni De Fraja 《Journal of Regulatory Economics》1997,11(3):257-270
The paper studies how the optimal regulatory policy is affected by the possibility of unregulated firms entering the market. In such cases, the regulator may prefer to limit price and cost reductions in the regulated incumbent. The extent to which this happens is shown to depend on the extent of the regulator's commitment: if it commits to a chosen policy, then the market outcome following entry is less competitive than it would be without commitment: price and production costs are both higher. We also show that, unlike the natural monopoly case, incentives for cost reducing investment are stronger when the regulatory policy has a short regulatory interval. 相似文献
10.
In this paper I deal with Bayesian methods for conducting inference on important features of (potentially) cointegrated VAR models involving I(1) variables. Firstly, (informal) inference is made on the cointegrating rank of the system. Secondly, posterior analysis is used to verify the validity of over-identifying restrictions on the cointegration parameters. Thirdly, posterior distributions are obtained for impulse response functions and predictive densities at different horizons. The relevant posterior distributions are obtained by means of Monte Carlo integration. The analysis is based on the use of simple weakly informative priors. Two applications on simulated data and on the Danish money demand data are presented. 相似文献