-
作者：SARGENT, TJ; VELDE, FR
作者单位：Stanford University; Johns Hopkins University
摘要：This paper describes aspects of the French Revolution from the perspective of theories about money and government budget constraints. We describe how unpleasant fiscal arithmetic gripped the Old Regime, how the Estates General responded to reorganize France's fiscal affairs, and how fiscal exigencies impelled the Revolution into a procession of monetary experiments ending in hyperinflation.
-
作者：BESLEY, T
摘要：This paper examines the link between property rights and investment incentives. I develop three theoretical arguments based on security of tenure, using land as collateral and obtaining gains from trade. The paper then presents empirical evidence from two regions in Ghana. I investigate the possibility that rights are endogenous, with farmers making improvements to enhance their land rights. Finally, I suggest tests for which of the theories might explain the results.
-
作者：SMITH, VK; HUANG, JC
作者单位：University of North Carolina; East Carolina University
摘要：This paper reports the results of a statistical summary of estimates of the marginal willingness to pay (MWTP) for reducing particulate matter from hedonic property value models developed between 1967 and 1988. Results using both ordinary least squares and minimum absolute deviation estimators suggest that market conditions and the procedures used to implement the hedonic models were important to the resulting MWTP estimates. The interquartile range for these estimated marginal values (measure...
-
作者：HIRSHLEIFER, J
摘要：Anarchy, defined as a system in which participants can seize and defend resources without regulation from above, is not chaos but rather a spontaneous order. However, anarchy is fragile and may dissolve either into formless ''amorphy'' or into a more organized system such as hierarchy. Under anarchy, each contestant balances between productive exploitation of the current resource base and fighting to acquire or defend resources. Anarchy is sustainable only when there are strongly diminishing r...
-
作者：JACOBY, HG
摘要：Polygyny is still practiced throughout much of sub-Saharan Africa, with important social consequences. This paper makes the first attempt to link African polygyny directly to the productivity of women in agriculture using micro data. I develop a structural model of the demand for wives that disentangles wealth and substitution effects. Using a large household survey from Cote d'Ivoire, I find that marked geographic diversity in cropping patterns leads to regional variation in female labor prod...
-
作者：TEULINGS, CN
摘要：This paper discusses a general equilibrium model of the assignment of heterogeneous workers to heterogeneous jobs. Both jobs and workers are measured along a continuous one-dimensional scale. The composition of labor supply is represented by a distribution function. Workers maximize their earnings. Highly skilled workers have an absolute advantage in all jobs and a comparative advantage in complex jobs. Utility is represented by a constant elasticity of substitution function defined over the o...
-
作者：ROEGER, W
摘要：It is well known that under the assumptions of constant returns to scale, perfect competition, and the absence of factor hoarding, primal and dual productivity measures should be highly correlated. The apparent lack of correlation is usually attributed to fixed factors of production. In this paper I propose an alternative explanation by relaxing the assumption of perfect competition. By controlling for the presence of a markup component, I demonstrate that both productivity measures are in fac...
