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作者：CHU, CYC; JIANG, N
作者单位：National Taiwan University
摘要：It is a well-established argument in economic analysis of criminal policy that, as far as crime deterrence is concerned, we should first use the fine to its maximum before supplementing it with an imprisonment term. We show in this paper that this orthodox belief is wrong. When there is a spectrum of crimes that can be chosen by potential criminals with different levels of wealth, as is the case in reality, we show that a combination of imprisonment and a less-than-maximum fine may be more eff...
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作者：BOVENBERG, AL
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：Using an intertemporal equilibrium model with overlapping generations, this paper explores how intergenerational and international distributional effects, in addition to intertemporal efficiency impacts, affect the macroeconomic consequences of investment-promoting policies. Whereas the intergenerational distributional effects may weaken the initial expansionary effects of an investment tax credit, they strengthen the short-run positive effects on domestic demand exerted by a lower corporate t...
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作者：BANKS, JS
摘要：We extend the Romer-Rosenthal model of representative democracy to a signaling environment, in which (i) only the representative knows the 'status quo' outcome resulting if her take-it-or-leave-it policy proposal is rejected by the voters, while (ii) only the voters know their true preferences over policies. A separating sequential equilibrium is shown to exist, and to uniquely satisfy a common equilibrium refinement. Furthermore, this equilibrium has the property that, relative to the environ...
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作者：KUMBHAKAR, SC; DUNBAR, AE
作者单位：University of Texas System; University of Texas at San Antonio
摘要：This paper investigates whether employee participation in ownership or profit-sharing in publicly held firms through an ESOP or profit-sharing plan was positively associated with productivity measures. The sample consists of firms that adopted such plans during 1982 through 1987. Production function models augmented with age variables for ESOP and profit-sharing plans were estimated using panel data procedures. The productivity effect increased with the age of the ESOP at the rate of 1.8 to 2....
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作者：BLACKORBY, C; DONALDSON, D
摘要：This note investigates recent claims by Lewbel regarding the use of equivalence scales in welfare analysis and finds them wanting. We go on to show that scaled income (income divided by the equivalence scale of the household) is an ordinal index of household well-being if and only if preferences are homothetic. Furthermore, we show that these scaled incomes can rank projects consistently with a Pareto-inclusive Bergson-Samuelson social-welfare function if and only if preferences satisfy full-h...
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作者：MAGNAC, T; VERDIER, T
作者单位：INRAE
摘要：This paper considers the welfare implications of adoption of a new technology when this technology is characterized by costs of adaptation and some 'localized learning' effects. A two-period model is developed to represent the 'adoption game' between firms in a duopolistic framework. Optimal social 'patterns' of adoption are compared with private patterns emerging as equilibria of the game. It is shown that differences between the two patterns are due first to the shape of the demand function ...
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作者：GANDAL, N; SCOTCHMER, S
作者单位：Boston University; University of California System; University of California Berkeley
摘要：In a simple model, we show that a joint venture can implement the rates of investment that maximize joint profit when firms' research abilities are private information. This can be done with budget balance, even though there are participation constraints. There is no conflict between budget balance and participation constraints because firms' payoffs can depend on ex post signals of abilities. The conflict between budget balance and participation constraints is restored when both abilities and...
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作者：ARONSSON, T
摘要：The purpose of this paper is to estimate a model of the supply of roundwood under nonlinear income taxation using Swedish cross-section data. The supply of roundwood is derived from utility maximization over two periods subject to a forest production constraint and a nonlinear budget constraint. Given the appropriate empirical specification, the model is estimated using the maximum likelihood method. As a final part of the analysis, tax consequences are presented both in the form of behavioura...
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作者：TANZI, V; ZEE, HH
摘要：This paper investigates the implications for savings behavior of time constraints in consumption in a simple life-cycle model, and finds that some standard results in the literature on savings and taxation need to be modified.
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作者：MANSOORIAN, A; MYERS, GM
作者单位：University of Waterloo; Dalhousie University
摘要：This paper examines the efficiency properties of an economy characterized by strategically competing regions and individuals with varying degrees of attachment to home, in an otherwise standard fiscal externality setting. Regional authorities may make interregional transfers in purchasing preferred populations. However, there is a range of distributions of resources over which neither region makes transfers. Nevertheless, all equilibrium allocations resulting from the Nash behavior of regional...
