Showing 1 - 10 of 87
This paper studies how political fragmentation affects government stability. We show that each additional party with representation in Parliament increases the probability that the incumbent government is unseated by 4 percentage points. Governments with more resources at their disposal for...
Persistent link: https://www.econbiz.de/10012207969
We study how partisan alignment across levels of government affects coalition formation and government stability using a regression discontinuity design and a large dataset of Spanish municipal elections. We document a positive effect of alignment on both government formation and stability....
Persistent link: https://www.econbiz.de/10013470306
significant impact. Finally, either regulatory instrument may induce the highest technology investment levels. …
Persistent link: https://www.econbiz.de/10010333431
We investigate the potential for statistical forecasting of aggregate oil and gas investment on the Norwegian … random walk benchmark in an out-of-sample environment. Second, lags of investment growth, crude oil price growth and realized … volatility is found to be adequate predictors for the investment growth. Finally, there is a clear benefit from re-estimating the …
Persistent link: https://www.econbiz.de/10011555555
This document describes and discusses a new supply side framework that quantifies the impact of structural reforms on per capita income in OECD countries. It presents the overall macroeconomic impacts of reforms by aggregating over the effects on physical capital, employment and productivity...
Persistent link: https://www.econbiz.de/10011657141
We study the effects of federal purchases on firm investment using a novel panel dataset that combines federal … firms’ capital investment by 10 to 13 cents. In line with the financial accelerator model, our findings indicate that the …-level analysis suggests that that the increase in investment at the firm level translates into an industry-wide effect without …
Persistent link: https://www.econbiz.de/10012018225
For a long time, China’s impressive growth performance has been driven by investment and high productivity gains. Based … sustainability of China’s investment- and export-driven growth model. It is shown that since the turn of the millennium buoyant …
Persistent link: https://www.econbiz.de/10012018333
This paper looks at the extent to which the shift in the lower value added production to countries in the following development “tier” is actually becoming a reality. Several countries in East Asia have been upgrading production patterns and moving up the value chain, this paper looks at how...
Persistent link: https://www.econbiz.de/10011931944
Since the recovery from the great financial crisis in 2010, global real trade flows grew much slower than pre-crisis, in both absolute terms (growth rates) and relative terms (relative to GDP, from 2:1 in the great 1990’s to 1:1 since 2012) A debate has arisen as to whether this global trade...
Persistent link: https://www.econbiz.de/10011931978
When investment is irreversible, theory suggests that firms will be "reluctant to invest." This reluctance creates a … wedge between the discount rate guiding investment decisions and the standard Jorgensonian user cost (adjusted for risk). We …
Persistent link: https://www.econbiz.de/10010264335