Il lavoro esamina, con specifico riguardo agli Stati Uniti, 1’impatto reale dei deficits del bilancio federale sui tassi nominali di interesse. Si distingue tra il deficit strutturale, che è la componente esogena del deficit complessivo, e il deficit ciclico, che è invece la componente...

The theory of « Ricardian Equivalence » as presented by Barro (1974) argues that government budget deficits exercise no impact on the rate of interest in an economy. By contrast, Cukierman and Meltzer (1989) argue that, under very reasonable circumstances, deficits will in fact raise real...

This paper tests the hypothesis that the presence of foreign direct investment (fdi) raises the capital-intensity of technology in the Third World. If this hypothesis is accepted, it may he because multinationals (MNCs) adopt a more capital-intensive technology or because mnc's might tend to...

This study investigates, using state-level data for the period 2000-2005, the Tiebout hypothesis (as extended by Tullock) of "voting with one's feet." This analysis differs from previous related studies not only in its adoption of more current migration and other data but also in other ways....

This empirical study seeks to broaden the interpretation of the "rational voter model" so as to include the potential effects of "direct democracy" on the voter participation rate. Direct democracy is assumed to take two forms: initiatives and popular referenda. This study tests the hypothesis...

This study empirically identifies both the economic and political determinants of the public's dissatisfaction with government in the United States. Using annual survey data on the public's dissatisfaction with government obtained for the years 1965-1996, it is found that the Vietnam War,...

The board of directors plays an important role in corporate governance. It is an internal mechanism that controls and monitors the actions of managers and aligns the utility functions between corporate owners and managers. The board of directors performs multiple functions that concern, for...

Purpose – Audit quality studies document that accruals decrease when the audit firm is large, or the audit firm is an industry specialist, or the audit‐client tenure is long. The purpose of this paper is to posit that incentives related to highly‐valued equity mitigate these results, as...