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  • Artikel  (469.818)
  • Artikel: DFG Deutsche Nationallizenzen  (469.818)
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  • 1
    Digitale Medien
    Digitale Medien
    The Importance of Industrial Policy in Quality-Ladder Growth Models (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 8.2008, 1, art1 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We extend the class of quality-ladder growth models (Grossman and Helpman, 1991, Segerstrom, 1998 and others), to encompass an economy with asymmetric fundamentals. In contrast to the standard framework, in our model industries may differ in terms of their innovative potential (quality jumps and arrival rates) and consumers' preferences. This extension allows us to bring industrial policy back into the realm of the growth policy debate. We first show that it is always possible to raise the long-run growth rate and the social welfare of the economy through a costless tax/subsidy scheme reallocating resources towards the relatively more promising industries. We then prove that, in certain economies, even a mere profit taxation policy increases economic growth and social welfare above the laissez-faire.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol8/iss1/art1
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  • 2
    Digitale Medien
    Digitale Medien
    Is Basic Income Viable? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art4 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The debate about Basic Income (BI) has hitherto been preoccupied with questions of desirability. To correct this imbalance and to throw light on the problems of winning political support for BI, this article considers whether BI is viable. At this stage, the exercise is necessarily speculative, but can be useful as long as care is taken to specify institutional arrangements and to take into account the way social agents are likely to respond to the introduction of BI. Accordingly, I develop a theoretical model of the interaction between tax-transfer policy and economic performance to explore the options facing the citizens of an imaginary state, who are contemplating radical reform but espouse divergent moral values. Initially, to fix ideas, I assume that their options are independent of the prevailing normative climate. In the end, however, I show that this assumption is untenable, and I draw conclusions for BI as a political project.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art4
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  • 3
    Digitale Medien
    Digitale Medien
    Why Republicanism? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art12 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art12
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  • 4
    Digitale Medien
    Digitale Medien
    List of Contributors (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art3 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art3
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  • 5
    Digitale Medien
    Digitale Medien
    WACC or APV? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 2.2008, 2, art1 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Miller and Modigliani's seminal papers (1958, 1963) gave rise to two alternative methodologies for project and firm valuations: the Weighted Average Cost of Capital (WACC) and Adjusted Present Value (APV). As is often the case of many larger firms in industrialized economies, whenever a target debt ratio is set up for the long term, WACC might be a good approximation. However, APV has certain advantages making it more convenient for smaller companies with unstable debt ratios, in countries with complex tax legislation and in emerging markets where high economic uncertainty makes the leveraging decision much more opportunistic.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol2/iss2/art1
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  • 6
    Digitale Medien
    Digitale Medien
    Testing for a Unit Root in the Net Discount Rate: A Survey of the Empirical Results (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 2.2008, 2, art4 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This study provides a survey of the empirical results associated with testing for a unit root in the net discount rate. As suggested by the literature, the use of the historical average of the net discount rate in the calculation of the present value of lost future earnings is valid if the net discount rate follows a mean reverting, stationary process. However, if the net discount rate follows a mean averting, non-stationary process forensic economists should perhaps use the current value of the net discount rate in such calculations. A majority of the studies surveyed indicate that the net discount rate experienced a structural break in the late 1970s-early 1980s. In general, if the net discount rate is stationary as a result of a structural break, forensic economists should use the average net discount rate over the post-break period.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol2/iss2/art4
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  • 7
    Digitale Medien
    Digitale Medien
    Risk-Adjusted Performance as a Rigorous Approach to Removing Subjectivity from Expert Assessments of Suitability (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 2.2008, 2, art3 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: A broker has an obligation to ensure that his client incorporates suitable assets into his portfolio. Greater objectivity can be brought to assessments of suitability by comparing the performance of the aggrieved investor's portfolio to a benchmark portfolio using the Modigliani & Modigliani risk-adjusted performance measure. The applicable counterfactual benchmark could be either a ``market" portfolio or a suitable alternative portfolio. The calculation of confidence intervals associated with the measured difference in risk-adjusted returns is demonstrated. Castaneda-like standards can be used as criteria for whether defendant's actions negatively impacted portfolio performance rather than outside events.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol2/iss2/art3
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  • 8
    Digitale Medien
    Digitale Medien
    Review of Harvey and Boyle (eds.), Basic Income Guarantees and the Right to Work (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art14 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art14
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  • 9
    Digitale Medien
    Digitale Medien
    Review of Erik Olin Wright (ed.), Redesigning Distribution (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art17 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art17
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  • 10
    Digitale Medien
    Digitale Medien
    Review of Guy Standing and Michael Samson, A Basic Income Grant for South Africa (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art15 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art15
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  • 11
    Digitale Medien
    Digitale Medien
    Basic Income and Economic Integration (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art7 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This article addresses some of the issues raised for the Basic Income (BI) principle by global economic integration; especially the argument that a new model of reciprocity between affluent and developing economies does not require, and might be undermined by, this approach. In that view, complementarity between an Anglophone version of capitalism and an Asian model of human development can supply a more reliable route to eliminating world poverty and advancing global well-being.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art7
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  • 12
    Digitale Medien
    Digitale Medien
    An Argument against Arguments for Enhancement (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Studies in ethics, law and technology 1.2008, 1, art12 
    Details
    ISSN: 1941-6008
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Sociologie , Technik allgemein
    Notizen: The treatment-enhancement distinction is difficult to make, and defenders of enhancement often base their case on that. Critics of enhancement, however, often have prototypical cases of enhancement-oriented interventions in mind, and the ethics of these can be evaluated on a case by case basis. Things like intelligence enhancement may have adverse effects on equality and utility. If the equality and utility effects of such enhancements were sufficiently severe, then restrictions would be called for. We need to think more about how to make tradeoffs between liberty, equality, and utility--and we need to know more about the extent to which each of these is at stake--before reaching conclusions about the ethics of, and appropriate social policy regarding, human enhancement.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/selt/vol1/iss1/art12
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  • 13
    Digitale Medien
    Digitale Medien
    Preserving Humanity - and Technology? A Response to de Grey (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Studies in ethics, law and technology 1.2008, 1, art11 
    Details
    ISSN: 1941-6008
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Sociologie , Technik allgemein
    Notizen: Aubrey de Grey's enthusiasm may or may not be infectious, but it is certainly palpable. And it adds a dimension to the discussion the priority that should be given to life-extension/anti-ageing research of which he seems to be unaware. For on the cusp of developments in emerging technologies we find ourselves button-holed by enthusiasts whose ``transhumanist" visions importunately press upon us the most radical understanding of their implications. My suspicion is that the transhumanist mini-insurgency is partly responsible for the general failure of the policy establishment to summon up the courage and vision to address the implications of emerging technologies at all. The insurgents' effort at ``branding" these technologies as transhumanist (like that of the Raelian flying-saucer cult, a decade ago, to claim cloning as their own) does no favors to the technology. The irony is that de Grey and his fellow-visionaries, far from generating consensus enthusiasm for emerging technology applications, are making them too hot to handle.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/selt/vol1/iss1/art11
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  • 14
    Digitale Medien
    Digitale Medien
    Incompatibility, Product Attributes and Consumer Welfare: Evidence from ATMs (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 1, art1 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Incompatibility in markets with network effects reduces consumers' ability to "mix and match" components offered by different sellers, but can also spur changes in product attributes that might benefit consumers. In this paper, we estimate the effects of incompatibility on consumers in a classic hardware/software market: ATM cards and machines. We find that ATM fees ceteris paribus reduce the network benefit from other banks' ATMs. However, a surge in ATM deployment accompanies the shift to surcharging. Even under conservative assumptions regarding how much of the surge is directly attributable to surcharging, greater deployment often completely offsets the harm from higher fees. The results suggest that policy discussions of incompatibility must consider not only its direct effect on consumers, but also its effect on product attributes.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss1/art1
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  • 15
    Digitale Medien
    Digitale Medien
    The Economics of Workaholism: We Should Not Have Worked on This Paper (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 1, art3 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: A large literature examines the addictive properties of such behaviors as smoking, drinking alcohol, gambling and eating. We argue that for some people addictive behavior may apply to a much more central aspect of economic life: working. Although workaholism raises some of the same health-related concerns as other addictions, compared to most of the more familiar addictions it is more likely to be a problem of higher-income individuals and is more likely to generate negative spillovers onto individuals around the workaholic. Using the Retirement History Survey and the Panel Study of Income Dynamics, we show that high-income, highly educated people exhibit behavior that is consistent with workaholism with regard to retiring-they are more likely to postpone earlier plans for retirement. The theory and evidence suggest that the presence of workaholism calls for a more progressive income tax system than otherwise, although other more targeted policies may be part of optimal policy.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss1/art3
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  • 16
    Digitale Medien
    Digitale Medien
    Marital Sorting, Household Labor Supply, and Intergenerational Earnings Mobility across Countries (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 7.2008, 2, art7 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We present comparable evidence on intergenerational earnings mobility for Denmark, Finland, Norway, the UK and the US, with a focus on the role of gender and marital status. We confirm that earnings mobility in the Nordic countries is typically greater than in the US and in the UK, but find that, in contrast to all other groups, for married women mobility is approximately uniform across countries when estimates are based on women's own earnings. Defining offspring outcomes in terms of family earnings, on the other hand, leads to estimates of intergenerational mobility in the Nordic countries which exceed those for the US and the UK for both men and women, single and married. Unlike in the Nordic countries, we find that married women with children and with husbands from affluent backgrounds tend to exhibit reduced labor supply in the US and the UK. In these countries, it is the combination of assortative mating and labor supply responses which weakens the association between married women's own earnings and their parents' earnings.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol7/iss2/art7
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  • 17
    Digitale Medien
    Digitale Medien
    Disciplinary Biases in Approaching African Development (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Global jurist 7.2008, 3, art6 
    Details
    ISSN: 1934-2640
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper tries to individuate various actual and potential aspects of an anthropological analysis of development, aiming to draw a comprehensive picture. A number of background questions encourage this attempt. Is development a form of engagement with the great questions of poverty, hunger and oppression in Africa? What is the relationship between development and politics? What is that between development and technical expertise? Why should African people articulate their political aspirations in the language of development, while Europeans or Americans have at their disposal a political language? Section one considers the general representation of Africa as transmitted by social and economical indicators. It underlines some dissatisfaction with the process of reducing the social and economic reality to a set of data. It also considers the material and cultural implications lying behind technocratic attitudes, suggesting that they should be the object of anthropological analysis. The limits of data reductionism make clearer the advantages of an anthropological perspective on the topic of development, which is too often considered in a technical dimension, ultimately discarding human agency. In turn, however, a deeper understanding of the geo-political and historical context of development intervention is very much needed in order to enrich anthropological approaches, which run the risk of being excessively narrow and self-reflective. Reviewing a number of works in the field of development and anthropology, section two tries to find out the main limitations of such literature, and calling for a broader understanding. Finally, section three considers more ambitious approaches, such as Ferguson's ``anti-politics machine". In particular, this part puts an emphasis on the de-politicizing effect of technocratic development interventions. It also underlines the problems arising from a Foucauldian view of institutions being produced by discourses. The conclusion will summarise the tools needed by an anthropological perspective on development, trying to find a balance between the representation of human agency and the understanding of the deeper hegemonic structures characterising development intervention.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/gj/vol7/iss3/art6
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  • 18
    Digitale Medien
    Digitale Medien
    The Republican Case for Basic Income: A Plea for Difficulty (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art13 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art13
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  • 19
    Digitale Medien
    Digitale Medien
    Reforming Tax Incentives Into Uniform Refundable Tax Credits (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art8 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Each year the US federal individual income tax delivers over $500 billion worth of tax incentives intended to encourage socially beneficial activities. Currently the vast majority operate through deductions or exclusions, which link the size of the subsidy to the taxpayer's marginal tax bracket. This article argues that uniform refundable credits are a more efficient approach for tax incentives intended to correct for positive externalities, absent evidence that positive externalities exist or that externalities or elasticities associated with the subsidized activity vary by income class. Moreover, some type of refundable credit should almost always be the most efficient subsidy even if externalities or elasticities rise with income. Their efficiency benefits are further magnified by their tendency to automatically smooth household income and macroeconomic demand. This article thus proposes a dramatic change in how the government provides tax incentives for socially valued activities: the default for all such tax incentives should be a uniform refundable tax credit.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art8
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  • 20
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    Digitale Medien
    Anthroposophical Reflections on Basic Income (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art6 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: In the 1930s Danish author and painter Johannes Hohlenberg (1881-1960) published several essays in defense of an unconditional income for all. These original writings, strongly influenced by Rudolf Steiner's anthroposophy, are not widely known. This article makes two of Hohlenberg's essays on this topic available in English translation for the first time. The first part of this article introduces Hohlenberg's ideas, followed in section two by English translations of the two Hohlenberg essays: Samfundsarven (The Heritage of Society) (1934) and Dersom nogen ikke vil arbejde, så skal han heller ikke have føden (He who Does not Work, Neither Shall He Eat) (1937).
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art6
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  • 21
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    Digitale Medien
    Macroeconomic Activity and the Compensation of Health Care Workers (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 2.2008, 2, art2 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper identifies the responses of measures of health care workers' relative compensation to unexpected changes in several macroeconomic variables. The results provide time series information about the relative compensation of workers in the health care sector of the economy. The findings will be valuable to those engaged in economic loss analysis, business valuations and assessments, and related research that often requires industry-specific knowledge about business conditions, trends in cost factors, and the overall economic environment. Moreover, the results should be important to health care managers and administrators who must plan for labor market changes following macroeconomic events.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol2/iss2/art2
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  • 22
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    Digitale Medien
    Recoverable Damages for Wrongful Death in the States: A Decennial View (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 3.2008, 1, art2 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: State statutory law concerning recoverable damages for wrongful death is comprehensively surveyed and categorized, as in Schap and Valvo (1997). Various kinds of awards, limitations, and procedures are presented in tabular form. Suitable coding within the table highlights statutory changes since the previous published survey. The table should both facilitate comparative institutional analysis by researchers and provide an informational base for practitioners.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol3/iss1/art2
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  • 23
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    Digitale Medien
    Privatization and Financial Performance: Can Value Be Created by Privatizing State Owned Enterprises in the Middle East & North Africa (MENA) Region? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 3.2008, 1, art1 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This study investigates the impact of privatization on value creation in State Owned Enterprises (SOEs) in the Middle East and North Africa (MENA) region. A multi-case study approach, using quantitative and qualitative data, is used to rectify the findings of prior SOE privatization research by taking a finer-grained analysis into the conditions that determine post-privatization performance. This study addresses the research question, "What is the effect of privatization in terms of value creation for State Owned Enterprises in the Middle East and North Africa (MENA) region?" Value creation is measured in terms of profitability, operating efficiency, capital expenditures, and leverage. Using quantitative performance metrics to assess value creation, we also use qualitative data to show that post-privatization value creation depends on specific strategic initiatives as well as government policy toward competition. Our overall conclusion is that privatizing SOEs can be beneficial in the MENA region but must coincide with strong government reform policies, and certain financial and managerial strategies.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol3/iss1/art1
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  • 24
    Digitale Medien
    Digitale Medien
    Content (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art1 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art1
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  • 25
    Digitale Medien
    Digitale Medien
    From the Editors (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art2 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art2
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    Genetic Enhancement and Procreative Autonomy (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Studies in ethics, law and technology 1.2008, 1, art9 
    Details
    ISSN: 1941-6008
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Sociologie , Technik allgemein
    Notizen: Liberal eugenics according to one version is distinguished from authoritarian eugenics on the basis that the choice of enhancement is devolved to parents. The argument for liberal eugenics combines a commitment to the right of parents to autonomy - in reproductive decisions and in the upbringing of children - and a parity claim that there is no morally significant difference between ante-natal and post-natal alterations of a child. The article reviews the putative constraints on parental choice, and assesses some criticisms of the parity claim. It concludes that a liberal commitment to social justice is in tension with a liberal commitment to parental choice, but judges that the former commitment does not entail the authoritarian eugenics which is represented as the alternative to liberal eugenics.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/selt/vol1/iss1/art9
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    Generous Funding for Interventive Aging Research Now? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Studies in ethics, law and technology 1.2008, 1, art13 
    Details
    ISSN: 1941-6008
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Sociologie , Technik allgemein
    Notizen: This article examines Aubrey de Grey's case for allocating substantial funding to interventive biogerontological research immediately. The conclusion is that the case is inconclusive and that scientific analyses of costs and probabilities would be needed to defend it properly.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/selt/vol1/iss1/art13
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    The Power of Business (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Business and politics 9.2008, 3, art1 
    Details
    ISSN: 1369-5258
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Politikwissenschaft , Wirtschaftswissenschaften
    Notizen: The introduction to the special issue develops a systematic and theoretically grounded framework for assessing business power in global governance. It is shown that power is said to have shifted from the world of states to the world of business. However, in order to evaluate such a claim first a differentiation of power in its instrumental, structural, and discursive facets is necessary. It is furthermore explained that the strength of such a three-dimensional assessment is that it combines different levels of analysis and considers actor-specific and structural dimensions and their material and ideational sources. Following a short introduction to the more empirical articles is provided summarizing their commonalities and differences.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bap/vol9/iss3/art1
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    The Shape of Demand: What Does It Tell Us about Direct-to-Consumer Marketing of Antidepressants? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 2, art4 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Much of the debate surrounding Direct-to-Consumer Advertising (DTCA) of pharmaceuticals centers on whether DTCA conveys useful information to consumers or indiscriminately increases requests for the advertised medication. By identifying how DTCA changes the shape of the demand curve for antidepressants, we seek to infer the promotional objectives of manufacturers. Using data from the 1996-2003 Medical Expenditure Panel Survey (MEPS), we find that advertising shifts the demand curve for antidepressants outward and rotates it counter-clockwise. DTCA increases the probability that an individual will initiate use of antidepressants, particularly when out-of-pocket medication costs are low, but does not necessarily increase utilization levels among those already taking antidepressants. This is consistent with a promotional campaign that seeks to alert consumers to the product's existence, but conveys no real information that would allow them to learn their true match with the product.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss2/art4
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    How Did SCHIP Affect the Insurance Coverage of Immigrant Children? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 2, art3 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The State Children's Health Insurance Program (SCHIP) significantly expanded public insurance eligibility and coverage for children in ``working poor" families. Despite this success, it is estimated that over 6 million children who are eligible for public insurance remain uninsured. An important first step for designing strategies to increase enrollment of eligible but uninsured children is to determine how the take-up of public coverage varies within the population. Because of their low rates of insurance coverage and unique enrollment barriers, children of immigrants are an especially important group to consider. We compare the effect of SCHIP eligibility on the insurance coverage of children of foreign-born and native-born parents. In contrast to research on the earlier Medicaid expansions, we find similar take-up rates for the two groups. This suggests that state outreach strategies were not only effective at increasing take-up overall, but were successful in reducing disparities in access to coverage.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss2/art3
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    The Effect of the Consolidated Omnibus Reconciliation Act of 1985 on Health Care Utilization of Employment Separators (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 2, art2 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper uses data from the Medical Expenditure Panel Survey to estimate the effect of COBRA on health care utilization among a sample of individuals who experience employment separation. The empirical specification employs a structural simultaneous equations model of insurance choice and utilization that is estimated by Maximum Simulated Likelihood. Results indicate that employment separators who elect COBRA appear to consume more health care compared to individuals who become temporarily uninsured. In addition, results do not indicate adverse selection into COBRA. Although COBRA enrollees consume more health care than temporary insurance losers, election appears to exhibit favorable selection with respect to physician utilization.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss2/art2
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    Did `Targets and Terror' Reduce Waiting Times in England for Hospital Care? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 2, art5 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Waiting times have been a central concern in the English NHS, where care is provided free at the point of delivery and is rationed by waiting time. Pro-market reforms introduced in the NHS in the 1990s were not accompanied by large drops in waiting times. As a result, the English government in 2000 adopted the use of an aggressive policy of targets coupled with the publication of waiting times data at the hospital level and strong sanctions for poor performing hospital managers. This regime has been dubbed `targets and terror'. We estimate the effect of the English target regime for waiting times for hospital care after 2001 by a comparative analysis with Scotland, a neighbouring country with the same healthcare system that did not adopt the target regime. We estimate difference-in-differences models of the proportion of people on the waiting list who waited over 6, 9 and 12 months. Comparisons between England and Scotland are sensitive to whether published or unpublished data are used but, regardless of the data source, the 'targets and terror' regime in England lowered the proportion of people waiting for elective treatment relative to Scotland.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss2/art5
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    Local Network Effects and Complex Network Structure (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of theoretical economics 7.2008, 1, art46 
    Details
    ISSN: 1555-0478
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper presents a model of local network effects in which agents connected in a social network each value the adoption of a product by a heterogeneous subset of other agents in their neighborhood, and have incomplete information about the structure and strength of adoption complementarities between all other agents. I show that the symmetric Bayes-Nash equilibria of this network game are in monotone strategies, can be strictly Pareto-ranked based on a scalar neighbor-adoption probability value, and that the greatest such equilibrium is uniquely coalition-proof. Each Bayes-Nash equilibrium has a corresponding fulfilled-expectations equilibrium under which agents form local adoption expectations. Examples illustrate cases in which the social network is an instance of a Poisson random graph, when it is a complete graph, a standard model of network effects, and when it is a generalized random graph. A generating function describing the structure of networks of adopting agents is characterized as a function of the Bayes-Nash equilibrium they play, and empirical implications of this characterization are discussed.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejte/vol7/iss1/art46
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    A Basic Income for Housing? Simulating a Universal Housing Transfer in the Netherlands and Sweden (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art5 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The gradualist approach towards an unconditional basic income for all involves the introduction or extension of universal benefits in place of current income-tested ones. Such a policy shift might cause higher fiscal costs or adverse distributional effects, at least in the short run. However, this need not always be the case. Using the tax-benefit model EUROMOD, the article simulates the introduction of a universal housing transfer - that is flat rate, tenure neutral and budget neutral - in place of mortgage interest tax relief and housing benefits in the Netherlands and Sweden. As it turns out, the regressive effect of mortgage interest tax relief thwarts the progressive effect of housing benefits. In view of that, replacing both by the universal housing transfer (equivalent to a partial basic income for housing) would enhance tax progressivity and reduce income inequality at no extra fiscal cost. Policy implications and possible objections are discussed in the concluding section.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art5
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    A Republican Right to Basic Income? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art10 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art10
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    Property and Republican Freedom: An Institutional Approach to Basic Income (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art11 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art11
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    Basic Income and the Republican Ideal: Rethinking Material Independence in Contemporary Societies (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art9 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art9
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    In Support of Human Enhancement (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Studies in ethics, law and technology 1.2008, 1, art10 
    Details
    ISSN: 1941-6008
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Sociologie , Technik allgemein
    Notizen: This short comment presents arguments in support of human enhancement.What is enhancement? Surely it is a procedure that improves our functioning: any intervention which increases our general capabilities for human flourishing. We exclude from consideration those procedures often termed ``enhancements" that are of dubious overall benefit (for example breast or penis augmentation, or the taking of anabolic steroids to increase muscle mass). Equally we are not talking of ``designer" modifications which are more akin to aesthetic or fashion preferences than to improvements: hair colour, eye colour, or physique. An enhancement (as we are using the term) is something of benefit to the individual.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/selt/vol1/iss1/art10
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    The Other Side of the Coin: Conceptualizing the Relationship between Business and the State in the Age of Globalisation (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Business and politics 9.2008, 3, art5 
    Details
    ISSN: 1369-5258
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Politikwissenschaft , Wirtschaftswissenschaften
    Notizen: The concluding article to the special issue critically reflects on arguments and analysis presented in the preceding articles. It argues that globalisation, new forms of private authority and the increased power of transnational business have not generally weakened the state, but rather advanced a business-oriented transformation of statehood. To understand this transformation the article first provides a very short overview of the state-globalisation debate. Subsequently, it deals more explicitly with the state theoretical debate. In particular, it brings together neo-Marxist and post-Weberian conceptualisations in order to address both the social nature of the state and the particular forms and processes by which it is interactively embedded in the economy and society. After an outline of the transformation of statehood and the strategic options for non-state actors, the article concludes with some critical remarks on the future of democratic politics.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bap/vol9/iss3/art5
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    Leveraging Green Power: Environmental Rules for Project Finance (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Business and politics 9.2008, 3, art3 
    Details
    ISSN: 1369-5258
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Politikwissenschaft , Wirtschaftswissenschaften
    Notizen: Environmental policies of providers of international finance - namely the World Bank, export credit agencies, and Equator Principles banks - provide interesting cases within which to study the power of business not as only an input to the political process or as a constraint on politics, but also as a conduit for both state and non-state actors.This paper shows how targeting financial actors has allowed NGOs to transform their rather weak discursive power base into instrumental power over business actors in other sectors. NGOs have channeled their power through states, consumers, and financial institutions; this has allowed them to augment discursive power over their targets with additional indirect, yet more immediate, forms of structural and instrumental power. As a consequence of both direct and indirect NGO pressure, financial institutions have adopted environmental policies. This article posits a theoretical explanation of the underspecified power relationships in NGO strategies that allow NGOs to exploit weak links in commodity chains for their campaigns.This paper argues that financial institutions wield considerable structural power through their ability to control access to finance. It is particularly this power base which has made them prime targets for NGOs campaigning for the greening of infrastructure development projects. As a consequence of NGO pressure, financial institutions have adopted environmental policies which in turn have provided the World Bank and Equator banks with additional sources of discursive power.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bap/vol9/iss3/art3
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    The Power of Socialization: Engaging the Diamond Industry in the Kimberley Process (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Business and politics 9.2008, 3, art2 
    Details
    ISSN: 1369-5258
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Politikwissenschaft , Wirtschaftswissenschaften
    Notizen: Research on conflict in resource-rich countries suggests that resource extraction companies contribute to tension but not development. In recent times, public-private partnerships (PPPs) have flourished, in which set up regulation is not against business but in joint cooperation with corporate actors. Yet PPPs are criticized for serving business self-interest and increasing business power rather than the common good. The paper takes the Kimberley Process and the diamond industry as an example to examine the multi-faceted nature of business power when this PPP was negotiated. The core of the argument is that realist-informed perspectives about business power in PPPs and constructivist accounts emphasizing socialization and social learning processes only tell one part of the story. While demonstrating that the diamond industry acted as a both a socializing and socialized agent, the analysis of the different facets of power shows that structural and discursive power were crucial elements in making socialization happen in the first place.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bap/vol9/iss3/art2
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    The Power of Transnational Private Governance: Financialization and the IASB (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Business and politics 9.2008, 3, art4 
    Details
    ISSN: 1369-5258
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Politikwissenschaft , Wirtschaftswissenschaften
    Notizen: This investigation of accounting standard setting as a case of business power in global governance links together three facets of power. First we examine the discursive power of international accounting standards in the ongoing process of financialization, which we break into two dynamics centered on profit and control. We argue that the selection of accounting paradigms does not concern measurement accuracy but is rather a choice of perspectives between finance and production when presenting economic reality as numbers. Drawing on evidence from the contestation between Rhenish capitalism and the financial perspective, we then explain why, despite the overwhelming structural power of finance, instrumental power exercised in political lobbying over accounting standards can still have considerable success.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bap/vol9/iss3/art4
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    Conflict and Production: An Application to Natural Resources (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 1, art2 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: I present a Stackelberg model of conflict, in which contestants have limited endowments to be put in two separate sectors, thus incorporating salient features of many conflicts. The model is applied to the case of conflict over natural resources. Consistent with amounting empirical evidence regarding a so-called "resource curse," I find that the relation between conflict intensity and resource rents is non-monotonous, and that the economy's income growth rate may be negatively affected by resource abundance.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol8/iss1/art2
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    Children of the Post-Communist Transition: Age at the Time of the Parents' Job Loss and Dropping Out of Secondary School (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 7.2008, 2, art8 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Using data on children whose parents lost their jobs during the post-communist transition of Hungary, we address the causal effect of unexpected long-term unemployment of parents on their children's educational achievement. We estimate the effect of the children's age at the time of their parents' job loss on their probability of dropping out of secondary school (an event that follows the parents' job loss by many years). The treatment is an additional year reared in a family with regularly employed parents, which can be interpreted as additional human capital investment. We provide bounding estimates to the causal effect. The estimated bounds are tight, they show a substantial effect, and the effect is significantly stronger for preschool age children than for older ones.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejeap/vol7/iss2/art8
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    On the Effect of Risk Aversion in Two-Person, Two-State Finance Economies (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of theoretical economics 7.2008, 1, art47 
    Details
    ISSN: 1555-0478
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The effect of replacing an agent in a two-person two-state finance economy by a more risk averse agent is studied. It is established under which conditions the other agent benefits or looses in equilibrium from dealing with a more risk averse agent. If one agent becomes more risk averse, then the equilibrium allocation moves towards that agent's certainty line. Whether or not that is beneficial for the other agent depends on the location of the endowment point.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejte/vol7/iss1/art47
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    Exporting Western Law to the Developing World: The Troubling Case of Niger (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Global jurist 7.2008, 3, art8 
    Details
    ISSN: 1934-2640
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: In recent years the West has dispatched ``rule doctors" across the developing world to guide poor countries through the process of legal modernization and westernization. Their goal, laid out by the so-called Washington Consensus, has been to reform those countries' legal systems so that they might share in the economic bounty of globalization. But things have not always gone well, particularly - this paper argues - where those rule doctors have ignored existing legal traditions.The paper focuses on the particular case of Niger, one of the poorest countries in the world. At present, most of Niger's citizens rely on magio-religious traditions to accomplish what we in the West would consider law. One important, and from a Western perspective colorful, Nigerien legal tradition is its citizens' reliance on an oracle called the gon to identify wrongdoers and restore harmony to their communities. The paper will describe the gon, and will point out some of the ways that it differs fundamentally from Western conceptions of law. It then will conclude that Washington Consensus law reform in Niger will fail, and will very likely cause social unrest, unless it takes a different tack and finds a way to accommodate existing legal traditions.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/gj/vol7/iss3/art8
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    Review of Tony Fitzpatrick, New Theories of Welfare (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Basic income studies 2.2008, 2, art16 
    Details
    ISSN: 1932-0183
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bis/vol2/iss2/art16
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    Navigating the Jungle of Valuing Complex Capital Structures in Privately Held Companies: An Integrative Simulation Approach (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Journal of business valuation and economic loss analysis 2.2008, 2, art5 
    Details
    ISSN: 1932-9156
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: With the FASB's emphasis on fair value, valuation of privately held companies' capital structures has taken on additional emphasis. Each methodology proposed in the AICPA's Practice Aid "Valuation of Privately-Held-Company Equity Securities Issued as Compensation" can result in suboptimal valuations when valuing complex capital structures. We discuss valuation of such capital structures and offer a workable, integrated simulation methodology combining the strengths of the probability-weighted expected return method with those of the option-pricing method. We demonstrate the methodology using transformed real-world data resulting in a flexible methodology that can be expanded to accommodate various aspects of complex capital structures.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/jbvela/vol2/iss2/art5
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    Intergenerational Earnings Mobility: Changes across Cohorts in Britain (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 7.2008, 2, art9 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The aim of this paper is to analyze intergenerational earnings mobility in Britain for cohorts of sons born between 1950 and 1972. Since there are no British surveys with information on both sons' and their fathers' earnings covering the above period, we consider two separate samples from the British Household Panel Survey. We combine information from the two samples using the two-sample two-stage least squares estimator described by Arellano and Meghir (1992). Our main result shows that intergenerational earnings mobility was stable for the cohorts born between 1950 and 1960 and decreased statistically significantly among more recent cohorts, those born during 1961-1972.
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    URL: http://www.bepress.com/bejeap/vol7/iss2/art9
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    Sequential Patterns of Drug Use Initiation - Can We Believe In the Gateway Theory? (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of economic analysis & policy 8.2008, 2, art1 
    Details
    ISSN: 1555-0494
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The gateway, or stepping stone, hypothesis is important as it has had considerable influence on drug policy and legislation in many countries. The gateway hypothesis offers one possible explanation for young people's development of serious drug problems. It simply states that the use of one drug increases the risk of starting to consume another, possibly more harmful, drug later on and that the risk increases with frequency of use (dose-response). The empirical basis for the hypothesis is the common finding that most heavy drug users have started with less dangerous drugs first and that there seems to be a "staircase" from alcohol and solvents via cannabis and tablets to amphetamine, cocaine and heroin. The core question is whether the sequential initiation pattern of drug use is best explained by the gateway hypothesis or whether the phenomenon is better understood by employing the concepts of accessibility and/or transition proneness? Based on unique data from a representative sample of 21-30 year olds in Oslo we have examined the gateway effect of both legal (alcohol) and illegal drugs (cannabis) on subsequent use of cannabis and hard drugs (amphetamine and cocaine). We are the first to use multivariate probit models to examine the hypothesis. The models take into account unobservable individual-specific effects to reduce the possibility of a spurious effect of soft drug use on the onset of hard drug use. The gateway effects are greater when we do not take account of unobserved heterogeneity, but, although substantially reduced, they remain considerable when unobserved factors are accounted for.
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    URL: http://www.bepress.com/bejeap/vol8/iss2/art1
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    One Country, Two Systems, and Three Memberships: Legal and Economic Integration between China and its Two SARs (2008)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Global jurist 7.2008, 3, art7 
    Details
    ISSN: 1934-2640
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper examines legal and economic integration between China and its two Special Administrative Regions, namely, Hong Kong and Macau. Two dimensions are dealt with in this paper: the constitutional/national framework and the WTO/CEPA framework. In the constitutional/national framework, this paper examines the interaction between People's Supreme Court and the Court of Final Appeal in Hong Kong and Macau. It analyzes the horizontal and vertical interaction between courts in China and in the Special Administrative Regions, focusing mainly on three issues: the Standing Committee/CFA, exclusive/residual competence, and the competition of jurisdiction. In the WTO/CEPA framework, this paper presents the legal bases and accession histories of these three memberships in the WTO, and examines their trade policies and practices both in the GATT and the WTO. Emphasis is placed on how and why Hong Kong, China and Macau, China enjoy full memberships in the WTO as China does. This paper finally explores the dispute settlement mechanism provided in the Closer Economic Partnership Arrangements between China and its two SARs, and examines the possibility for these three members to avail themselves of the WTO dispute settlement mechanism. This paper finds that the legal and economic integration between China and its two SARs offers much both to comparative lawyers and international trade lawyers: the vast diversity of legal culture in these three areas yields an unprecedented conflict and combination, while the interaction between China and its two separate customs territories, Hong Kong, China and Macau, China, in the international trading regime, presents a new landscape in the WTO.
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    URL: http://www.bepress.com/gj/vol7/iss3/art7
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    Dirty Money: What the Underworld Understands that Economists Do Not (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 1, art4 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Economists have overlooked and misunderstood the impact of illegal financial flows -- "dirty money" -- on the global economy, according to Raymond Baker and Jennifer Nordin. Estimated at $1 trillion annually, dirty money renders economic analysis inaccurate and undermines development in poor countries.
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    URL: http://www.bepress.com/ev/vol4/iss1/art4
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    The Gender Pay Gap (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 4, art5 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: After decades of near constancy at 40 cents on the dollar, the gender pay gap has declined markedly. Francine Blau and Lawrence Kahn document these developments and explore the reasons both for the remaining gender pay gap and changes in the gap over time.
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    URL: http://www.bepress.com/ev/vol4/iss4/art5
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    Deconstructing the China Price (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 1, art5 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Peter Navarro and the China Price project explore how China has become the world's "factory floor" in just a few short decades.
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    URL: http://www.bepress.com/ev/vol4/iss1/art5
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    Housing Collapse? Bring It On! (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 1, art2 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Aaron Edlin confesses his selfish reasons to root for a collapse of housing prices and explains why many who worry should not.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss1/art2
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    Letter: What Underlies the Inequality of "Garrison America"? (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 4, art6 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Harlan Greene wonders whether the inadequacy of U.S. efforts to gracefully accommodate its ethnic melting pot could account for the troubling statistics in "Garrison America."
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss4/art6
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    Letter: Why Not Just Ask the Dolphins? (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 4, art1 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Adam Smith's methodology -- and the modern economist's -- is one of theory, led by observation. Alternative methodologies, including opinion surveys of businessmen are no more likely to generate useful answers than this time-tested epistemology.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss4/art1
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    Letter: Observation-Based Analysis and Industry Studies (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 4, art3 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Observation-based analysis at the firm and plant level is alive, well, and growing, according to Frank Giarratani. More than eight hundred scholars, including many economists, embrace observation-based analysis, and identify with industry studies as a research field based on this principle.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss4/art3
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    Letter: Why Urgent Emissions Reductions are Needed (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 5, art3 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Steffen Kallbekken and Torben K. Mideksa explain why economic analysis may demand sharp emissions reductions today rather than the gradual path recommended by Sheila Olmstead and Robert Stavins.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss5/art3
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    Time to Change U.S. Climate Policy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Economists' voice 4.2007, 5, art2 
    Details
    ISSN: 1553-3832
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Carbon taxes are not likely to be politically feasible in the U.S. for addressing climate change in the short term, according to Robert Hahn and Peter Passell. The time is now ripe for the U.S. to consider adopting a cap and trade approach to reducing greenhouse gas emissions.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/ev/vol4/iss5/art2
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    Stable Sunspot Equilibria in a Cash-in-Advance Economy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art3 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We analyze a monetary model with flexible labor supply, cash-in-advance constraints, and seigniorage- and tax-financed government spending. If the intertemporal elasticity of substitution of labor is greater than one, both determinate and indeterminate steady states exist. If the elasticity is less than one, there is a unique steady state, which can be indeterminate. Only in the latter case do there exist sunspot equilibria that are stable under adaptive learning. A sufficient reduction in government purchases or increase in tax rates eliminates the sunspot equilibria in many cases. However, raising taxes enough to balance the budget can fail to achieve determinacy.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art3
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    The Arrow Effect under Competitive R&D (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art2 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper shows that standard Schumpeterian theory does not imply that the incumbent monopolist has too little incentive to carry out R&D aimed at displacing its own product. If the patent holder is rational as is any other R&D investor, she will know that in equilibrium her patent's obsolescence shall not be affected by her own R&D investment, because all the R&D firms operate under perfect competition and constant returns to scale at the private level. This reconciles Schumpeterian theory with the empirical evidence on innovation by incumbents. It is proved that the usual macroeconomic implications maintain their validity.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art2
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    Liquidity Effects, Variable Time Preference, and Optimal Monetary Policy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art6 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper examines the role of monetary policy in the presence of endogenous time preference. The framework in which this issue is addressed is a monetary model with cash-in-advance constraints and an additional trading friction that is typical of the class of "liquidity models" of the monetary business cycle. We find that the nature of the optimal policy designed to remove these distortions gets modified in the presence of endogenous utility discounting. Consequently the role of monetary policy is significantly altered. Specifically, monetary policy is likely to be less activist relative to the model with a fixed rate of time preference.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art6
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    To Pool or to Aggregate? Tests with a Dynamic Panel Macroeconometric Model of Australian State Labor Markets (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art1 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We construct a dynamic error correction model of the Australian labor market using a macroeconomic panel across seven states from 1972:3 to 1999:1. Medium-run equilibrium estimates support a real wage-productivity gap and an unemployment gap. The dynamic short-run estimates support expectations-augmented Phillips curves for wages and prices, and demand-led employment growth. We compare three procedures - pooled, aggregate and mean group estimates. Considerable heterogeneity existed across states in the pooled procedure, and state-level variables had a significant impact in the aggregate procedure. Out-of-sample aggregate forecasting for the pooled, aggregate and mean group procedures suggests that the pooled one performs best.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art1
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    Openness, Wage Floors and Technology Change (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art5 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper argues that the effect of openness to trade on process innovations and skill premia importantly depends on the structure of labor markets in developed countries. Openness to trade with less developed countries is often modelled as a fall in the relative price of unskilled-labor intensive goods. We show within the model of Acemoglu (2003b) that such a fall in the relative price can make wage floors more binding and trigger costly process innovations that increase the productivity of unskilled workers. Empirical evidence using an industry panel for the US and Germany in the 1970s to 1990s supports this hypothesis: (i) embodied technology change seems distorted towards unskilled-labor intensive industries in Germany where wage floors are more important and (ii) embodied technology change in the 1980s is associated with an increase of the share of skilled labor in the wage bill of 15 percentage points in the US whereas the corresponding increase in Germany is much smaller at 3 percentage points.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art5
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    TFP Differences and the Aggregate Effects of Labor Mobility in the Long Run (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art10 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The coexistence of barriers to labor mobility with large output-per-worker disparities driven by Total Factor Productivity (TFP) differences suggests that the world's labor force is misallocated across countries. We investigate the extent and consequences of this potential misallocation in the context of a simple two-location growth model, in which production requires capital, labor and an essential immobile factor (land). We characterize the magnitude of labor movements implied by an efficient long-run allocation, and derive their implications for capital accumulation. Quantitatively, even for moderate TFP differences, we find substantial increases in world output associated with efficient allocations. These output increases are driven by large movements of labor from low to high TFP countries, as well as by a sizeable increase in the capital stock and changes in its endogenous division across countries. Our results are robust to a large set of parameter values, including unrealistically conservative ones.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art10
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    Political Sustainability of Unfunded Pensions in an Endogenous Growth Model (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art29 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Cooley and Soares (1999) show that a pay-as-you-go (unfunded) pension system can be an outcome of a political equilibrium even without intergenerational altruism. This note assumes an endogenous growth model rather than an exogenous one. This assumption establishes a link between the savings rate and economic growth. Since the introduction of a pay-as-you-go system lowers the savings rate, it has an adverse effect on the growth rate and hence on the future interest rate and future pensions. When this additional incentive is taken into account, the level of the pay-as-you-go system chosen in political equilibrium can be lower or even, depending on calibration values, disappear entirely, relative to the exogenous growth model of Cooley and Soares.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art29
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    Institutional Determinants of International Equity Portfolios - A Country-Level Analysis (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art34 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Despite large potential gains, international equity investment is less diversified across countries than predicted by the international version of the traditional capital asset pricing model (ICAPM). This paper provides empirical evidence on the impact of capital market frictions on international equity portfolios using data on bilateral equity holdings. Two important findings are reported: First, besides a home bias in equities, a 'friendship bias' can be observed for some country pairs. Second, indirect barriers such as the degree of financial market development and especially information asymmetries have strong explanatory power, whereas direct barriers such as capital flow restrictions have no impact.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art34
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    Optimal Monetary Policy, Endogenous Sticky Prices, and Multiple Equilibria (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art8 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We analyze optimal discretionary monetary policy in an endogenous sticky prices model. Similar models with exogenous sticky prices can deliver multiple equilibria. This is a necessary condition for the occurrence of expectation traps (when private agents' expectations determine the equilibrium level of inflation). In our model, sticky-price firms are allowed to switch to flexible pricing by paying a random cost. For plausible parametrizations, our model has a unique low-inflation equilibrium. With endogenous sticky prices, the monetary authority does not validate high-inflation expectations and deviates to the Friedman rule.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art8
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    Habit Formation and Aggregate Consumption Dynamics (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art21 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper finds that a benchmark model of habit formation in consumer preferences can explain two well-known failures of the permanent income hypothesis: the sensitivity of aggregate consumption to predictable changes in income and to lagged consumer sentiment. One novel feature of the paper's methodology is to allow for measurement errors and other transitory elements (for example, weather-related disturbances) in consumption data. In contrast with traditional wisdom, aggregate consumption growth appears to be highly persistent after controlling for measurement errors and transitory consumption fluctuations: the estimates of persistence in quarterly consumption growth jump up from the commonly assumed 0.3 to about 0.7.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art21
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    Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art28 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We use a panel of 16 OECD countries over several decades to investigate the effects of government debts and deficits on long-term interest rates. In simple static specifications, a one-percentage-point increase in the primary deficit relative to GDP increases contemporaneous long-term interest rates by about 10 basis points. In a vector autoregression (VAR), the same shock leads to a cumulative increase of almost 150 basis points after 10 years. The effect of debt on interest rates is non-linear: only for countries with above-average levels of debt does an increase in debt affect the interest rate. World fiscal policy is also important: an increase in total OECD-government borrowing increases each country's interest rates. However, domestic fiscal policy continues to affect domestic interest rates even after controlling for worldwide debts and deficits.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art28
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    The Political Economy of Numbers: On the Application of Benford's Law to International Macroeconomic Statistics (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art17 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: In this paper we present a technique for assessing data quality based on conformity with Benford's Law, which states that the first digits of numbers generated from natural phenomena do not occur with equal frequency. If data do not conform to the Benford distribution, then questions arise about the process that generated it. Because neutral transformations should preserve conformity to Benford's Law, any macroeconomic adjustment that destroys this conformity should make those calculations suspect.Benford's Law is applied to one of the most commonly used data sets in economics: international macroeconomic statistics. We find that the World Bank international GDP data and purchasing power parity (PPP) corrected Penn World tables for OECD countries conform well to Benford's Law. But some subsets of the data - particularly GDP figures from the developing world -- show non-conformity consistent with deliberate manipulation of the underlying series. The test also flags potential problems with a variety of standard macro transformations of the data.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art17
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    A Simple Wicksellian Macroeconomic Model (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art11 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper describes a simple Wicksellian macroeconomic model that can be used in undergraduate macroeconomics courses. It is designed as an alternative to the Romer (2000) model that is slowly replacing IS-LM/AS-AD in many textbooks. The Wicksellian model has four desirable features relative to the Romer model. First, it treats the interest rate as an exogenous monetary policy instrument rather than assuming that the central bank follows a monetary policy rule. Second, the model can be used to derive a monetary policy rule that is consistent with optimizing behavior on the part of the central bank. Third, the model includes a term structure equation. Fourth, the model has a simple recursive structure that makes it easy to work with. The model can be used to analyze a number of interesting issues in monetary policy that are difficult to handle in the IS-LM/AS-AD or Romer model frameworks. These include issues involving permanent versus temporary expenditures shocks, anticipated expenditures shocks, and shocks to the term structure of interest rates. The model can easily be simplified for use in a principles course or extended for use in upper-level macroeconomics courses.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art11
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    Economic Growth: A Channel Decomposition Exercise (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art4 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper empirically decomposes the channels through which the determinants of growth operate. Methodologically, channel decomposition combines growth accounting with regression analysis. Under channel decomposition, the determinants could affect aggregate productivity growth through physical capital accumulation, through human capital acquisition, or through growth in total factor productivity (TFP). The results from channel decomposition show that TFP growth is the main channel of operation for most of the determinants. Specifically, TFP growth, not factor accumulation, is what accounts for conditional convergence. This finding is extremely robust. There is also no evidence that rich and poor countries converge through different channels.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art4
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    A Positive Analysis of Targeted Employment Protection Legislation (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art14 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: In many countries, Employment Protection Legislation (EPL) establishes less strict dismissal procedures for specific groups of workers. This paper builds a simple matching model with heterogeneous workers in order to analyze this feature of EPL. We use the model to analyze the effects of reforms targeted at lowering the firing costs of a particular group of workers, and compare the results with those stemming from a comprehensive reform that reduces firing costs for all workers. The model is calibrated for the Spanish economy, where an important reform of this kind took place in 1997. Overall, our results point out that EPL reforms achieve the largest reduction in unemployment when they are targeted to workers with lower and more volatile productivity.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art14
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    ICT and Productivity Resurgence: A Growth Model for the Information Age (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art31 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Since the mid-1990s, extraordinary advances in semiconductors have enhanced the embodied nature of information technology, fuelling efficiency growth in computers and communication equipment industries. The consequent fall in prices has enabled the rapid diffusion of these new technologies, which have reached the critical threshold to foster productivity growth. In light of the recent growth pattern of the United States, this paper presents a model where the endogenous engine of development is the learning-by-doing process stemming from the usage of ICT for investment and consumption. Based on a two-sector framework (à la Whelan) that distinguishes between ICT-producers and -users, the model yields a sound representation of the stylized facts of the Information Age.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art31
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    Decomposing Consumer Wealth Effects: Evidence on the Role of Real Estate Assets Following the Wealth Cycle of 1990-2002 (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art25 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: During the period from 1990 to 2002, U.S. households experienced a dramatic wealth cycle, induced by a 369 percent appreciation in the value of real per capita liquid stock-market assets, followed by a 55 percent decline. However, despite predictions at the time by some analysts relying on life-cycle models of consumption, consumer spending in real terms continued to rise throughout this period. Using data that include the period from 1990 to 2005, traditional approaches to estimating macroeconomic wealth effects on consumption confront two puzzles: (i) econometric evidence of a stable cointegrating relationship among consumption, income, and wealth is weak at best; and (ii) life-cycle models that rely on aggregate measures of wealth cannot explain why consumption did not collapse when the value of stock-market assets declined so dramatically. We address both puzzles by decomposing wealth according to the liquidity of household assets. In particular, we find that significant appreciation in the value of real estate assets that occurred after the peak of the wealth cycle helped to sustain consumer spending from 2000 to 2005.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art25
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    Rich, Poor and Growth-Miracle Nations: Multiple Equilibria Revisited (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art20 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper presents a two-sector growth model of international trade that can account for the key features of the postwar world development experience. Two sectors represent traditional primitive production and modern sophisticated production. Due to increasing returns in the modern sector, the open-economy version of our model gives rise to three different equilibria: one in which the country produces only primitive goods and converges to a low-income steady state; another in which it produces both primitive and sophisticated goods and converges to the world-average steady state; and a third in which it specializes in the production of sophisticated goods and converges to a balanced growth path. We argue that the development experiences of poor, rich and growth-miracle countries are well described by these three equilibria.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art20
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    Housing Tenure and Wealth Distribution in Life Cycle Economies (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art27 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Common practice in the housing and wealth distribution literature has proceeded as if the modeling of housing rental markets was unnecessary due to renters' relative low levels of wealth and the smaller fraction they represent in the total population. This paper shows, however, that their inclusion matters substantially when dealing with wealth concentration over the life-cycle. Renters are concentrated in the poorer and younger groups and when matching the data on wealth inequality by age groups, the model improves relative to a one asset economy and relative to a housing model with no rental markets.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art27
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    Confidence-Enhanced Economic Growth (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art13 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper investigates one causal link between entrepreneurial overconfidence and economic growth in the US. Evidence from the social psychology literature suggests that this biased perception can lead to more successful outcomes for individuals. This paper examines the impacts of entrepreneurial overconfidence on the aggregate economy using an R&D-driven endogenous growth model. From this perspective, overconfidence is equivalent to a subsidy to R&D such that overconfident entrepreneurs are more likely to invest, and this increased R&D intensity is the driving force behind faster economic growth. In terms of social welfare, a small degree of overconfidence moves the market equilibrium level of R&D closer to the social optimum; however, a large degree of overconfidence may move the economy beyond the optimal level. Therefore, the welfare impact is ambiguous.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art13
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    Explaining the Evidence on Inequality and Growth: Informality and Redistribution (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art7 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper constructs a simple model that can account for both the negative relationship between growth and income inequality observed in the cross-country data and the positive relationship observed within countries over time. The model employs a dual-economy structure with formal and informal sectors. Growth is driven by formal sector human capital spillovers. Restrictive institutions impose barriers to formality that reduce the growth rate and increase inequality. Redistributive taxation lowers inequality but blunts the incentive to accumulate, lowering growth. Institutional structures vary more across than within countries. Consequently, variations in institutional barriers to formality may account for the negative relationship between growth and inequality found in the cross-country data. Variations in the intensity of redistribution may account for the positive relationship observed within countries over time.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art7
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    Nominal Debt Dynamics, Credit Constraints and Monetary Policy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art9 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We construct a dynamic general equilibrium model in which household debt is sticky in nominal terms and debtor households are credit constrained. Interest payments on debt contracts may be at floating rates or fixed for the duration of the contract. A key result is that a simple static Taylor Rule can result in a prolonged period in which real interest rates are cut rather than raised in response to an inflationary shock. We show how the proportion of fixed rate contracts affects the monetary transmission mechanism and its implications for the distributional effects of an inflationary shock.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art9
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    Euro Area Inflation Differentials (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art24 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: We build a stylised 12-country model of the euro area and use it to analyse how differences in national inflation and growth rates arise within the European Economic and Monetary Union (EMU). We find that the main source of differentials in the early years of the EMU have been aggregate demand shocks, followed by cost-push shocks; euro exchange rate shocks come third. Among the propagation mechanisms a key role is played by inflation persistence; for plausible parameter values even small changes in persistence can produce a dramatic increase in the differentials. Finally, we also find that a tight control of average area-wide inflation around a target tends to reduce the differentials as well.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art24
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    Inspecting the Mechanism Exactly: A Closed-form Solution to a Stochastic Growth Model (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art30 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper considers the canonical stochastic growth model with CRRA utility and Cobb-Douglas technology. It obtains a closed-form solution for the case where capital's share is equal to the reciprocal of the intertemporal elasticity of substitution. This provides a useful benchmark that illuminates the transmission mechanism under uncertainty. In particular, it highlights the complicated ways in which risk and nonlinearities interact, via Jensen's inequality, to affect the steady state capital stock.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art30
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    Gold, Fiat Money, and Price Stability (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art26 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The classical gold standard has long been associated with long-run price stability. But short-run price variability led critics of the gold standard to propose reforms that look much like modern versions of price-path targeting. This paper uses a dynamic stochastic general equilibrium model to examine price dynamics under alternative policy regimes. In the model, a pure inflation target provides more short-run price stability than does the gold standard and, although it introduces a unit root into the price level, it leads to as much long-term price stability as does the gold standard for horizons shorter than 20 years. Relative to these regimes, Fisher's compensated dollar (or pure price-path targeting) reduces inflation uncertainty by an order of magnitude at all horizons. A Taylor rule, with its relatively large weight on output, leads to large uncertainty about inflation at long horizons. This long-run inflation uncertainty can be largely eliminated by introducing an additional response to the deviation of the price level from a desired path.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art26
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    Does Permanent Income Determine the Vote? (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art19 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: The relationship between income and voting is usually studied using current income. Instead, I estimate how permanent income affects voting and to what extent voters are forward looking. A proxy for permanent income is constructed from stated expectations about one's future economic situation. Using panel data from the Norwegian Election Study I estimate the effect of stated expectations on realized future income to compute the effect of expectations. This is then linked to voting behaviour. Contrasting permanent and transitory income, the former has a large impact and the latter has little explanatory power on voting. This supports the hypothesis of forward looking voting. A high expected permanent income increase the propensity to vote Conservative.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art19
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    Savers, Spenders and Fiscal Policy in a Small Open Economy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art22 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper extends the savers-spenders theory of Mankiw (2000) to analyze fiscal policy in a small open economy with endogenous labor supply. It is first shown that tax cuts have a short-run contractionary effect on domestic production, and increased public spending has a short-run expansionary effect. Although consistent with recent empirical work, this result contrasts with those of most other theoretical models. Transitory changes in demand have permanent real effects in our model, and we discuss the implications for real exchange rate dynamics. We also show how ``rational" agents may magnify or dampen the responses of ``irrational" agents, and discuss how, unlike in previous contributions, this is in our model purely a result of the shape of rational agents' utility functions.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art22
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    Assessing Sign Restrictions (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art23 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper assesses sign restrictions via a controlled experiment. A researcher estimates a VAR on an infinite amount of data generated by a DSGE model. He or she then imposes sign restrictions on impulse responses to identify a structural shock while being agnostic about the response of a key variable of interest to this shock. Can such an agnostic identification procedure pin down the correct sign of this unconstrained response?The DSGE models of Erceg, Henderson, and Levin (2000), as well as of Smets and Wouters (2003), are used as data generating processes. Two conditions must be met for the method to unambiguously deliver the correct sign of the unconstrained impulse response. First, a sufficiently large number of restrictions must be imposed -- more than what is typically imposed in applied work. Second, the variance of the shock under study must be sufficiently large -- larger than the values provided by Bayesian estimations of the DSGE models. Hence, sign restrictions can be a useful tool to recover structural shocks from VAR residuals.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art23
    Standort Signatur Erwartet Verfügbarkeit
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    Should Monetary Policy Use Long-Term Rates? (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art15 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper studies two roles that long-term nominal interest rates can play in the conduct of monetary policy in a New Keynesian model. The first allows long-term rates to enter the reaction function of the monetary authority. The second considers the possibility of using long-term rates as instruments of policy. In both cases a unique rational expectations equilibrium exists. Reacting to movements in long yields does not improve macroeconomic performance as measured by the loss function. Long-term rates, however, turn out to be better instruments of monetary policy than short-term rates when the concern for inflation volatility is high.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art15
    Standort Signatur Erwartet Verfügbarkeit
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    Exchange Rate Regimes, Inflation and Growth in Developing Countries -- An Assessment (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art18 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Official and four alternative regime classification schemes based on observed exchange rate behaviour are used to examine the relationship with inflation and growth in 91 developing countries over the period 1984-2001. Apart from one scheme that produces markedly unfavourable results for floating (for reasons that are discussed in the paper), the consistent findings are that (a) floats have similar growth rates to soft pegs and only slightly higher inflation; and (b) hard pegs have lower inflation and slower growth than other regimes.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art18
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    A Macroeconomic Model of Entry with Exporters and Multinationals (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art32 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper provides a framework for the analysis of firms' integration strategies that incorporates the endogenous determination of the number of firms that serve foreign markets through exports and the number of multinational firms that choose to engage in horizontal foreign direct investments. The aim of the study is to investigate how differences in firms' integration strategies affect the way productivity and monetary policy shocks spread their effects worldwide. Building on a general equilibrium model in the tradition of the new open economy macroeconomics with national and multinational enterprises, I find that firms' integration strategies play a key role in the international business cycle and they help explain a number of puzzling features in exchange rate data. The paper makes two main contributions. First, it provides an explanation of long-term deviations from purchasing power parity due to changes in the extensive margin of firms serving world markets via exporting and foreign investment that is novel in the literature. Second, it explores optimal monetary policy in a framework with endogenous trade and foreign investments, elucidating an interesting new trade-off between efficiency and volatility. My results show that monetary stabilization, by discouraging entry of new firms, might involve a policy trade-off between the desire to smooth fluctuations in producers' prices and the need to facilitate adjustments in consumers' prices.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art32
    Standort Signatur Erwartet Verfügbarkeit
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    A Comparison of Five Federal Reserve Chairmen: Was Greenspan the Best? (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art12 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: This paper examines the performances of the past five Federal Reserve chairmen using optimal control techniques and a macroeconometric model. Each chairman is evaluated in two ways. The first way is comparing the actual performance of the economy under his term relative to what the performance would have been had he behaved optimally. Comparing chairmen only on the basis of the actual performance of the economy is not appropriate because it does not control for different exogenous-variable values and shocks that the Fed has no control over. This comparison is done for a wide range of loss functions. It does not assume that the chairman necessarily behaved by minimizing a loss function; it just compares his actual behavior to what he could have done had he minimized a particular loss function. The second way, on the other hand, assumes that each chairman minimized a loss function, and it chooses for each chairman which of the various loss functions tried comes closest to matching the actual values of the control variable to the optimal values. A summary evaluation of each chairman is presented in Section 6.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art12
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    Specialization Patterns and the Factor Bias of Technology (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art16 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Development accounting exercises based on an aggregate production function find technology is biased in favor of a country's abundant production factors. We provide an explanation for this finding based on the Heckscher-Ohlin model. Countries trade and specialize in the industries that use intensively the production factors they are abundantly endowed with. For given factor endowment ratios, this implies smaller international differences in factor price ratios than under autarky. Thus, when measuring the factor bias of technology with the same aggregate production function for all countries, they appear to have an abundant-factor bias in their technologies.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art16
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    Factor Utilization and the Real Impact of Financial Crises (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art33 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Total factor productivity (TFP) falls markedly during financial crises, as we document with recent evidence from Latin America and Asia. We study the ability of various versions of the small open economy neoclassical growth model to account for the behavior of inputs, output, and aggregate productivity during Mexico's 1994-95 crisis. We find that that capital utilization and labor hoarding can account for a large fraction of the fall in measured productivity. While capital utilization alone does little to improve the performance of the model during the crisis, introducing labor hoarding significantly reduces the gap between the evidence and the predicted fall in output and hours.
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    URL: http://www.bepress.com/bejm/vol7/iss1/art33
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    The Response of Business Fixed Investment to Changes in Energy Prices: A Test of Some Hypotheses about the Transmission of Energy Price Shocks (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    The @B.E. journal of macroeconomics 7.2007, 1, art35 
    Details
    ISSN: 1555-0486
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Wirtschaftswissenschaften
    Notizen: Changes in firms' investment expenditures are considered one of the primary channels through which energy price shocks are transmitted to the economy. It is widely believed that the response of business fixed investment to energy price increases differs from its response to energy price decreases. We show that the apparent symmetry in the estimated responses of business fixed investment in equipment and structures cannot be reconciled with standard theoretical explanations of asymmetric responses. Rather this evidence is an artifact (1) of the aggregation of mining-related expenditures by the oil, natural gas, and coal mining industry and all other expenditures, and (2) of ignoring an exogenous shift in investment caused by the 1986 Tax Reform Act. After controlling for these factors, formal statistical tests are unable to reject the hypothesis of symmetric responses to energy price shocks for all components of investment in structures. For nonresidential equipment there is weak statistical evidence of classical asymmetries in some components, but not in the aggregate. Once symmetry is imposed and mining-related expenditures are excluded, the estimated response of business fixed investment in equipment and structures tends to be small and statistically insignificant. Historical decompositions show that energy price shocks have played a minor role in driving fluctuations in nonresidential fixed investment other than investment in mining.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/bejm/vol7/iss1/art35
    Standort Signatur Erwartet Verfügbarkeit
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  • 96
    Digitale Medien
    Digitale Medien
    Path Dependence or Convergence? The Evolution of Corporate Ownership Around the World (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of law and economics 3.2007, 2, art12 
    Details
    ISSN: 1555-5879
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Rechtswissenschaft , Wirtschaftswissenschaften
    Notizen: We offer a model that sheds light on the debate over whether corporate ownership concentration converges to the Berle-Means image. Our model takes into account the importance of both legal rules and firm-specific arrangements. Our analytical result is that share ownership concentration either persists or falls depending on the relative importance of these protective arrangements. In particular, our model predicts: (a) diffuse corporate ownership in nations that impose legal limits on blockholders' clout to expropriate minority shareholder rights, and (b) concentrated corporate ownership in nations that rely on asset specificity as a form of investor protection. Our empirical work suggests partial convergence toward Berle-Means diffuse share ownership. It is thereby reasonable to infer the existence of path dependent forces on ownership concentration. But this result does not preclude the possibility of functional convergence or convergence to the diffuse form of share ownership via cross-listings on the major U.S. stock exchanges that impose stringent disclosure and listing requirements. In essence, these results suggest a case for the co-existence of the preexisting path-dependency and functional-convergence stories.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/rle/vol3/iss2/art12
    Standort Signatur Erwartet Verfügbarkeit
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  • 97
    Digitale Medien
    Digitale Medien
    Searching for Efficient Enforcement: Officer Characteristics and Racially Biased Policing (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of law and economics 3.2007, 2, art5 
    Details
    ISSN: 1555-5879
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Rechtswissenschaft , Wirtschaftswissenschaften
    Notizen: This study empirically investigates whether racial and ethnic differences in police searches of stopped drivers reflect efficient enforcement or biased policing. Null hypotheses consistent with efficient enforcement are derived from alternative assumptions regarding police objectives: 1) police seek to maximize public safety, and 2) police seek to maximize the hit rate. We use both an outcomes-based non-parametric analysis and a standard benchmarking parametric approach (regression analysis). Both approaches yield the same results: law enforcement officers display both personal and police cultural bias in their propensity to search African American and Latino drivers. African American and Latino status tends to lower the guilt signal required for police suspicion. Further, white officers police differently than their African American and Latino colleagues. White officers are 73 percent of the sworn police force, conduct 88 percent of the searches, and have a hit rate of 20 percent. Latino officers are 11 percent of the sworn labor force, conduct 8 percent of the searches, and have a hit rate of 24 percent. African American officers are 15 percent of the sworn labor force, conduct 4 percent of the searches, and have a hit rate of 26 percent. The preferential treatment of white drivers by police is attenuated with increases in the fraction of racial and ethnic minority residents in the county where the stop occurred.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/rle/vol3/iss2/art5
    Standort Signatur Erwartet Verfügbarkeit
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  • 98
    Digitale Medien
    Digitale Medien
    Optimal Law Enforcement when the Offender can Dispose of his Wealth (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of law and economics 3.2007, 2, art3 
    Details
    ISSN: 1555-5879
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Rechtswissenschaft , Wirtschaftswissenschaften
    Notizen: In this paper we assert that, if an offender can dispose of some or all of his wealth after violating the law, raising the fine up to his wealth level will induce him to dispose of his wealth, thereby increasing social cost without deterring more offenses. This suggests that the socially optimal fine should be set below the offender's maximum wealth level.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/rle/vol3/iss2/art3
    Standort Signatur Erwartet Verfügbarkeit
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  • 99
    Digitale Medien
    Digitale Medien
    Essential Facility Access in Europe: Building a Test for Antitrust Policy (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of law and economics 3.2007, 1, art6 
    Details
    ISSN: 1555-5879
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Rechtswissenschaft , Wirtschaftswissenschaften
    Notizen: This paper investigates the evolution of competition policy decisions in the US and, particularly, in the EU, concerning mandatory access to an essential facility held by a dominant firm. Based on some recent and controversial EU antitrust decisions, we outline a comprehensive test for identifying an essential facility and consequently imposing a mandatory access obligation on dominant firms.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/rle/vol3/iss1/art6
    Standort Signatur Erwartet Verfügbarkeit
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  • 100
    Digitale Medien
    Digitale Medien
    Explaining the Decreased Use of International Courts - The Case of the ICJ (2007)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of law and economics 3.2007, 1, art3 
    Details
    ISSN: 1555-5879
    Quelle: Berkeley Electronic Press Academic Journals
    Thema: Rechtswissenschaft , Wirtschaftswissenschaften
    Notizen: The popularity of the International Court of Justice (ICJ) is the subject of much controversy. This paper examines usage of the ICJ by all United Nations (UN) member states as compared with its usage by those states with the top-ten economies of the world. Five hypotheses explaining the decrease in ICJ usage by the top-ten economies are presented as follows: (1) a home-bias of judges, (2) the diversification of international tribunals, (3) changes in the composition of the cases filed, (4) the (re-)allocation of power, and (5) an increased heterogeneity of external institutions among UN member states. We find empirical evidence that an increase in UN membership has led to increased heterogeneity, which in turn has led to a decline in usage of the ICJ by the top-ten economies.
    Materialart: Digitale Medien
    URL: http://www.bepress.com/rle/vol3/iss1/art3
    Standort Signatur Erwartet Verfügbarkeit
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