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作者：Mafs, I
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作者：Heckman, J
作者单位：University of Chicago
摘要：This paper considers the merits and limitations of alternative criteria proposed to evaluate social programmes in the modern welfare state and the information required Lo implement them when individual responses to programmes are heterogeneous. Participation in programmes is based, in part, on this heterogeneity and the programmes have general equilibrium impacts oil the economy. Particular attention is devoted to the voting criterion used in modern positive political economy and the ranking o...
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作者：Canzoneri, MB; Cumby, RE; Diba, BT
作者单位：Georgetown University
摘要：A new 'fiscal' theory of price determination has implications for exchange rate systems and common currency areas. We show that deeper monetary integration requires the discipline of a Ricardian regime; that is, the government must guarantee fiscal solvency for any sequence of prices or exchange rates. Particularly striking results are that a currency peg is not credible without the discipline of a Ricardian regime, and a common currency area is not viable if fiscal policy in two (or more) of ...
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作者：Fischer, S; Alonso-Gamo, P; von Allmen, UE
作者单位：International Monetary Fund
摘要：The performance of the Palestinian economy in 1994-2000 was uneven, but for the period as a whole, real per capita income declined despite the mobilisation of substantial amounts of foreign aid and despite considerable progress in establishing a basic institutional framework. This paper argues that economic growth and private investment, in particular, have been adversely affected by closures, by uncertainties about political developments and the direction of policies and policy reforms, by pr...
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作者：Boizot, C; Robin, JM; Visser, M
作者单位：INRAE; INRAE; Institut Polytechnique de Paris; ENSAE Paris; Institut Polytechnique de Paris; ENSAE Paris
摘要：In this paper we study household purchase behaviour of storable food products. An inventory model is developed in which the household chooses an optimal stock level of the product. Storage of the product is costly, there is a fixed cost per purchase occasion, and the market price is sometimes discounted because of price promotions. We show that the optimal purchase policy is an s, S policy. The model is used to derive predictions on the correlations between interpurchase times and purchased qu...
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作者：Carlin, W; Glyn, A; Van Reenen, J
作者单位：University of London; University College London; University of Oxford
摘要：We investigate the relationship between export market shares and relative unit labour costs using a long panel of 12 manufacturing industries across 14 OECD countries. We ask how sensitive are export market shares to changes in relative costs and what determines tills sensitivity? Both costs and embodied technology are important, but neither can fully explain changing export positions. We explore whether residual country-specific trends might be linked to 'deep' structural features of economie...
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作者：Tylecote, A
作者单位：University of Sheffield
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作者：Debrun, X
作者单位：International Monetary Fund
摘要：Various authors argue that the European Central Bank (ECB) closely resembles the Bundes-bank because of similarities in the legal status and in the behaviour of the two institutions. That 'twin-sister hypothesis' (TSH) contrasts with theoretical analyses that often assume a 'symmetric' ECB. We propose a model where countries bargain over the 'type' of the ECB, defined as the set of relative weights attached to individual preferences in the joint objective function of the bank. We find the cond...
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作者：Blow, L; Crawford, I
摘要：This paper uses revealed preference restrictions and nonparametric statistical methods to bound the true cost-of-living index which corresponds most closely to the UR Retail Prices Index (RPI). This is used to assess the RPI formula for substitution bias. We show that neither the direction nor the existence of bias in the RPI forumla can be established on a priori theoretical grounds. However, we find empirical evidence of a variable, but generally positive bias in the rate of inflation record...
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作者：Cooper, B; García-Peñalosa, C; Funk, P
作者单位：Centre National de la Recherche Scientifique (CNRS); Aix-Marseille Universite; University of Cologne
摘要：This paper explains the observed stagnation of 'happitiess' measures through a growth model in which agents care about conspicuous consumption. 'Normal goods' confer direct utility, While 'Status goods' confer utility only at the expense of others. Firms can improve the quality of both goods through R&D. The Nash equilibrium of the consumer game results in the share of expenditure on status goods increasing with the number of times the status good has been improved. As the economy grows, resou...
