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simon Price 《Applied economics》2013,45(4):839-850
The 1984 input–output tables make it possible to estimate directly the cost structure of any industrial sector. The results of this calculation are presented for the non-food manufacturing sector for the period 1970–87. This cost estimate is found to be part of a co-integrating set with output prices, in contrast to the specification implied by a Cobb–Douglas production function. The other elements of the equilibrium vector are an index of capacity utilization, positively related to the mark-up, and the variance of inflation (proxying inflation uncertainty), which is negatively related. Import prices have an indirect effect on the mark-up, via demand. 相似文献
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The stability of federal systems is a thorny issue. Several scholars have attempted to come to grips with this problem and
have proposed mechanisms or institutions which may contribute to the stabilization of federal systems. In many instances,
however, the underlying mechanisms and micro-foundations are poorly specified. In this paper I build upon existing models
dealing with decentralization and secession to incorporate unequal income distributions and externalities of public goods.
Based on this some insights may be derived on the appropriate mechanisms to foster federal stability.
JEL Classification: H77, H41, C72
This paper partly draws on research funded by the Swiss National Science Foundation (Grant No.
5004-0487882/1). An earlier version entitled ‘‘Federalism and the Size of Nations’’ was presented at
the conference ‘‘Micro-Foundations of Federal Institutional Stability’’ at Duke University (Durham,
April 30–May 1, 2004). Comments by participants at this conference and greatly appreciated.
First version: March 2004, this version: November 1, 2004 相似文献
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