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Economic Growth, Economic Freedom, and Governance
Cebula, Richard; Ekstrom, Marcus - Volkswirtschaftliche Fakultät, … - 2008
, as well as a number of economic factors, on economic growth among OECD nations. Empirical estimation finds that the …
Persistent link: https://www.econbiz.de/10011111770
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Economic Freedom, Regulatory Quality, Taxation, and Living Standards
Cebula, Richard; Clark, Jeff - Volkswirtschaftliche Fakultät, … - 2014
Using panel data for OECD nations for the period 2003-2009, the fixed-effects estimations in this study all provide strong support for the three central hypotheses considered here, namely: (1) the standard of living in a nation, measured in this study as the level of purchasing-power-parity...
Persistent link: https://www.econbiz.de/10011112985
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Response to a review of voting theory for democracy, in the light of the economic crisis and the role of mathematicians
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
welfare theory and since then mathematicians have been damaging democracy. My book Voting Theory for Democracy (VTFD) tries to …Economic theory needs a stronger defence against unwise application of mathematics. Mathematicians are trained for … pupils and students, in finance by neglecting real world risks that contribute to a world crisis, or in voting theory where …
Persistent link: https://www.econbiz.de/10009367967
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Arrow’s Impossibility Theorem and the distinction between Voting and Deciding
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
Arrow’s Impossibility Theorem in social choice finds different interpretations. Bordes-Tideman (1991) and Tideman (2006) suggest that collective rationality would be an illusion and that practical voting procedures do not tend to require completeness or transitivity. Colignatus (1990 and 2011)...
Persistent link: https://www.econbiz.de/10009368469
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Budget Deficits and Economic Growth
Belton, Willie; Cebula, Richard - Volkswirtschaftliche Fakultät, … - 1992
The present paper examines the impact that budget deficits exercise on economic growth in the United States. Using a simple growth model that includes a variety of public policy variables, we provide Instrumental Variables (IV) estimates that indicate growth in the United States over time. The...
Persistent link: https://www.econbiz.de/10011122822
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A Panel Data Study of the Effects of Economic Freedom, Regulatory Quality, and Taxation on the Growth Rate of Per Capita Real GDP
Cebula, Richard; Foley, Maggie - Volkswirtschaftliche Fakultät, … - 2011
This study empirically investigates three hypotheses. The first is that higher levels of economic freedom in an economy promote a higher growth rate of economic activity and hence yield a higher growth rate of per capita real GDP in that economy. The second hypothesis is that higher quality...
Persistent link: https://www.econbiz.de/10011107617
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In Search of Optimum "Relative Unanimity"
Cebula, Richard; Kafoglis, Milton - Volkswirtschaftliche Fakultät, … - 1982
This paper formulates a simple mathematical framework for the selection of an optimum "relative unanimity” collective decision rule. The approach is first to identify the benefits of moving from a rule of simple majority towards a rule of full unanimity. Then, the costs of moving from simple...
Persistent link: https://www.econbiz.de/10011260983
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High Noon at the EU corral. An economic plan for Europe, September 2011
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
The 2007+ credit crunch and economic crisis put European governments in severe debt, with talk about a Greek partial default. It also put the European banks into a zombie condition, while under Basel III the capital requirement rises from 8% to 10.5% (which requirement does not cover public debt...
Persistent link: https://www.econbiz.de/10009294940
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Conditions for turning the ex ante risk premium into an ex post redemption for EU government debt
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2011
Basel III classifies government debt as risk free while actual interest rates in the European Union (EU) show large differences not only because of liquidity but mainly because of the risk of default, as also reflected in credit default swaps. Curiously such debt defaults may not happen so that...
Persistent link: https://www.econbiz.de/10009372590
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Consumer durables as investments that can help us out of the current economic crisis
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2009
consumer durables are investments too, (4) to highlight how such durables fit into the macro-economic theory of slumps, (5) to …
Persistent link: https://www.econbiz.de/10005836404