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Federalism's Values and the Value of Federalism

Inman, Robert P. - 2008

What is it about federal governance that makes it so attractive to economists, political philosophers, and legal … definition of federal governance and classifies a sample of 73 countries as either a constitutionally-based federal democracy, an … administratively-based federal democracy, a unitary democracy, a federal dictatorship, or a unitary dictatorship. Governance is then …

Persistent link: https://www.econbiz.de/10012464912

Misallocation, Establishment Size, and Productivity

Bento, Pedro - 2016

We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output and establishment size. Relative to the standard factor misallocation framework, policy...

Persistent link: https://www.econbiz.de/10012455871

Forms of Democracy, Policy and Economic Development

Persson, Torsten - 2005

The paper combines insights from the recent research programs on constitutions and economic policy, and on history, institutions and growth. Drawing on cross-sectional as well as panel data, it presents new empirical results showing that the form of democracy (rather than democracy vs....

Persistent link: https://www.econbiz.de/10012467514

Consequences of Constitutions

Persson, Torsten - 2003

The paper presents empirical findings regarding the economic policy consequences of constitutional arrangements, in three different dimensions. First, the data are consistent with several theoretical predictions about the consequences of electoral rules and forms of government for fiscal policy...

Persistent link: https://www.econbiz.de/10012468524

Policy Evaluation in Uncertain Economic Environments

Brock, William A. - 2003

This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...

Persistent link: https://www.econbiz.de/10012468673

Determinants of Long-Term Growth : A Bayesian Averaging of Classical Estimates (BACE) Approach

Doppelhofer, Gernot - 2000

This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included...

Persistent link: https://www.econbiz.de/10012471000

One Money, One Market : Estimating the Effect of Common Currencies on Trade

Rose, Andrew K. - 1999

A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international trade. The panel data set used includes bilateral observations for five years spanning 1970 through 1990 for 186 countries. In this data set, there are over one hundred...

Persistent link: https://www.econbiz.de/10012471350

On the Measurement of the International Propagation of Shocks

Rigobon, Roberto - 1999

In this paper I offer an alternative identification assumption that allows one to test for changing patterns regarding the international propagation of shocks when endogenous variables, omitted variables, and heteroskedasticity are present in the data. Using this methodology, I demonstrate that...

Persistent link: https://www.econbiz.de/10012471430

Multiple Time-Serie3 Models Applied to Panel Data

MaCurdy, Thomas E. - 1981

This study presents a general methodology for fitting multiple time series models to panel data. The basic statistical framework considered here consists of a dynamic simultaneous equation model where disturbances follow a permanent-transitory scheme with transitory components generated by a...

Persistent link: https://www.econbiz.de/10012478475

A Reference Point Theory of Mergers and Acquisitions

Baker, Malcolm - 2009

The use of judgmental anchors or reference points in valuing corporations affects several basic aspects of merger and acquisition activity including offer prices, deal success, market reaction, and merger waves. Offer prices are biased towards the 52-week high, a highly salient but largely...

Persistent link: https://www.econbiz.de/10012463098

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