Showing 1 - 10 of 361
We examine through an experimental design how rational and non-rational considerations affect the decision to vote or to abstain in First Past the Post and PR elections. We show that in both types of elections, but particularly so under PR, a majority of subjects do not make the "right"...
Persistent link: https://www.econbiz.de/10009295309
International agreements about transnational issues are difficult to reach, as the examples of the Copenhagen summit or the never-ending discussions of the future of the European Union make clear. In this paper, we relate this difficulty to the political process and the conflicts of interest...
Persistent link: https://www.econbiz.de/10010603649
different values to the two types of mistake that may occur. Most voting rules have a plethora of uninformative equilibria, and … informative voting may be incompatible with equilibrium. We analyze an anonymous randomized majority rule that has a unique … under certain perturbations of the behavioral assumptions: (i) a slight preference for voting according to one's conviction …
Persistent link: https://www.econbiz.de/10008793596
This article explains why the traditional model of the theory of social choice misrepresents reality, it cannot lead to acceptable methods of ranking and electing in any case, and a more realistic model leads inevitably to one method of ranking and electing—majority judgment—that best meets...
Persistent link: https://www.econbiz.de/10008793943
Under evaluative voting, the voter freely grades each candidate on a numerical scale, with the winning candidate being … determined by the sum of the grades they receive. This paper compares evaluative voting with the two-round system, reporting on … evaluative voting rules, and the specific pattern of strategic voting under the official, two-round voting rule. …
Persistent link: https://www.econbiz.de/10011026210
This paper provides evidence that the European Central Bank (ECB) has adjusted its interest rate since 1999 nonlinearly according to the macroeconomic and financial environment in the euro zone. Its policy function is described by a Taylor rule with regime shifts implying that the stance of...
Persistent link: https://www.econbiz.de/10010933828
In this paper, we test two models of the Eurozone, with a special emphasis on the role of money and monetary policy …
Persistent link: https://www.econbiz.de/10009651555
Eurozone is going though the worst ever crises since the adoption of the common currency in 1999. In the aftermath of …
Persistent link: https://www.econbiz.de/10009368002
Business surveys are an important element in the analysis of the short-term economic situation because of the timeliness and nature of the information they convey. Especially, surveys are often involved in econometric models in order to provide an early assessment of the current state of the...
Persistent link: https://www.econbiz.de/10010750631
This paper presents an overview of the results of a research project on monetary transmission pursued by the Eurosystem, which has analysed micro data on firms and banks in several countries of the euro area in great detail. There is strong empirical support for an interest rate channel working...
Persistent link: https://www.econbiz.de/10010750800