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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...
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作者：MOURMOURAS, A
作者单位：University System of Ohio; University of Cincinnati
摘要：This paper shows that in overlapping generations models incorporating renewable natural resources, competition may lead to perpetually declining living standards in environments in which it is technically feasible to achieve intergenerationally equitable distributions of consumption. First- and second-best conservationist government policies are examined. These include forced nationalization of the entire stock of natural capital, government open market purchases and sales of natural capital, ...
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作者：SELDEN, TM
摘要：This paper examines the public provision of health insurance for high severity illness. Besley (Journal of Public Economics, 1989, 39, 141-156) argues that public coverage of high severity illness may interact with private coverage for low severity illness so as to increase welfare. The possibility of interaction between public and private coverage raises important questions for mixed systems, as in the United States. Nevertheless, even within the more general framework presented in this paper...
