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Economics of Voting: Theories and Evidence

Struthers, John; Young, Alistair - In: Journal of Economic Studies 16 (1989) 5

In seeking to extend rational choice theory from “market” to “political” behaviour, economists have encountered a paradox: namely, that the act of voting itself appears to be inconsistent with the assumption of rationality. This is true not only when self‐interest is assumed, but also...

Persistent link: https://www.econbiz.de/10014863838

The Estimation of Rational Expectations Models: A Survey

Blake, David - In: Journal of Economic Studies 18 (1991) September, pp. 31-70

The different types of estimators of rational expectations models are surveyed. A key feature is that the model …

Persistent link: https://www.econbiz.de/10008459547

Higher Education and Progressive Taxation: Equity, Efficiency and Majority Voting

Creedy, John; Francois, Patrick - In: Journal of Economic Studies 19 (1992) September, pp. 17-30

Examines, using a simple model, the choice of appropriate contributions of taxes and fees used to finance higher education. A two-period model is developed in which individuals in cohort invest in higher education in the first period, and the interdependences between educational choice and the...

Persistent link: https://www.econbiz.de/10008459554

Macrostabilisation Policy in Mainland China’s Open Economy

Chen, Chien-Hsun; Bourlakis, Constantine - In: Journal of Economic Studies 18 (1991) January, pp. 57-64

A general equilibrium model for mainland China's open economy is formulated and used to examine the effect of stabilisation policy on the internal and external balances. An expansionary monetary or fiscal policy in particular through its effect on consumption and labour supply raises aggregate...

Persistent link: https://www.econbiz.de/10008459567

Employment in Manufacturing: A Long-run Relationship and Short-run Dynamics

MacDonald, R.; Murphy, P.D. - In: Journal of Economic Studies 19 (1992) October, pp. 3-18

Examines the behaviour of UK employment in manufacturing over the period 1964 to 1986. The use of cointegration techniques allows the separation of a long-run equilibrium relationship for employment from its short-run dynamics. The estimated model demonstrates a high degree of parameter...

Persistent link: https://www.econbiz.de/10008459571

A Model of UK Personal Sector Holdings of Capital Uncertain Assets

Barr, D.G.; Cuthbertson, K. - In: Journal of Economic Studies 18 (1991) September, pp. 19-35

A systems approach is applied to UK personal sector holdings of unit trusts, UK company securities, public-sector long-term debt and overseas securities. In the long run, asset holdings are determined primarily by hedging considerations but in the short run there is evidence of speculative...

Persistent link: https://www.econbiz.de/10008459574

Organizational Structure and Firm Performance: An Intertemporal Perspective

Ingham, Hilary - In: Journal of Economic Studies 19 (1992) October, pp. 19-35

Since the seminal contributions of Chandler and Williamson, a substantial body of research in industrial organization has examined the performance benefits of the organizational innovation of divisionalization. While existing empirical work has, for the most part, utilized a static framework to...

Persistent link: https://www.econbiz.de/10008459575

Gradual Output Adjustment and Expansionary Monetary Policy

Lawler, Philip - In: Journal of Economic Studies 19 (1992) January, pp. 48-61

Examines the effects of a monetary expansion on certain key macroeconomic variables, in particular the nominal exchange rate, competitiveness, and domestic output and employment, using a modified version of the Dornbusch (Journal of Political Economy, 1976) model. Dornbusch's original analysis...

Persistent link: https://www.econbiz.de/10008481964

Bivariate and multivariate tests of the inflation-productivity Granger-temporal causal relationship: evidence from Greece

Papapetrou, Evangelia - In: Journal of Economic Studies 28 (2001) September, pp. 213-226

Examines the causality issue, in a Granger-temporal causal sense, between price level and productivity in a bivariate and multivariate context in Greece over the period 1962-1997. The empirical analysis employs various time-series techniques such as unit-root testing, bivariate and multivariate...

Persistent link: https://www.econbiz.de/10004976581

Forecasting of foreign exchange rate by normal mixture models

Jung, Chulho - In: Journal of Economic Studies 22 (1995) January, pp. 45-57

exchange rate models and switches from one model to another probabilistically, depending on supply shocks or government policy … models can then be estimated simultaneously. Uses the estimated parameters of the model to forecast foreign exchange rate …, and then four foreign exchange rate models are used to estimate the NMM. The out-of-sample forecasting results obtained …

Persistent link: https://www.econbiz.de/10005003232