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determines voting in the Senate, with the main dimension driven by economic interest, not ideology. Although two dimensions are …
Persistent link: https://www.econbiz.de/10005408037
Economists often perceive the “ideological beliefs“ held by political actors as obstacles to rational policy-making. In contrast, it is argued that ideologies have characteristics that appear desirable in policy- making in that they allow political actors to credibly commit themselves to...
Persistent link: https://www.econbiz.de/10005556964
As the barriers to hemispheric trade and integration are lowered, it will be asked whether we will we hear the "giant sucking sound" of poorer nations luring U.S. and Canadian firms south to take advantage of low wages and lax environmental regulations? Or, will Latin American nations passively...
Persistent link: https://www.econbiz.de/10005062608
This paper explores what a critical commentary on micro principles texts might look like, examining what is to be critiqued and how to do it.
Persistent link: https://www.econbiz.de/10005555984
Market based policies are fast becoming the recommended policy panacea for all the world’s environmental problems. Implicit in such recommendations is the theory that free markets, adjusted for externalities, can always create an “efficient” allocation of society’s resources. As a...
Persistent link: https://www.econbiz.de/10005556082
Persistent link: https://www.econbiz.de/10005556528
Prices of repudiated bonds are insightful but scarcely observed. Based on an original daily database, this paper compares the price evolution from January 6, 1916 to August 31, 1919 of a cross-listed (Paris and London) Tsarist bond repudiated by the Soviets on February 8, 1918. After its...
Persistent link: https://www.econbiz.de/10005076557
The paper reviews the recent conduct of monetary policy and the central bank’s rule-based behavior in Russia. Using … different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange … rate in a consistent and predictable manner. Our results indicate that during the period of 1993-2002 the Bank of Russia …
Persistent link: https://www.econbiz.de/10005076844
The setting of user prices for enterprises with large fixed costs and marginal costs below average costs – “natural monopolies” – raises important policy questions regarding both efficiency and equity. It has become well accepted among economists that, in a variety of settings, welfare...
Persistent link: https://www.econbiz.de/10005076868
This empirical note uses publicly available Goskomstat data to investigate income growth and convergence across Russian regions. Using data for 1992-2001, we find strong sigma divergence simultaneously with beta convergence. he results indicate that per capita income in Russian regions may be...
Persistent link: https://www.econbiz.de/10005125010