Suchergebnisse

This paper examines the ordinary least squares estimates of the Klein–Goldberger model by Fox (Journal of Political Economy, 64, 1956, 128). Because Klein and Goldberger published the data set with the model, it is possible to re‐examine Fox's results years later, and investigate the accuracy with which these estimates were calculated. The examination reported in this paper was conducted by making independent estimates using three different modern econometric software packages. This examination reveals that the Fox estimates for a number of the equations of this model are replicable, to the two or three digits reported by Fox. Fox's results for other equations cannot be replicated. Not all the reasons for this lack of replicability can be determined, but in several cases the computational methods used by Fox and his assistants have been found to be faulty by modern computational standards.

Professor Dr. P. J. Verdoorn -- The Informational Analysis of Changes in Regional Distributions -- A Bayesian Simultaneous Equation Theory applied to an Underidentified Econometric Model -- Welfare and the GNP -- The Fix-Point Estimation Method and a Revision of the 69-C Annual Model -- Employment and Production in the Dutch Empirical Tradition -- Planned Shortages and Price Theory -- Optimum Policy Alternatives -- Some Remarks on the Optimal Tax System -- National Impulses and Their Impact on the World: an Example -- Two-way Trade in a Verdoorn Type Model -- Accumulation of Durable Goods by Young Marrieds -- A Comparison of Alternative Specifications of Market Share Models -- The Marketing Mix and Brand Quality -- On Average and Variance of Demand Components in a Purchase Event-Purchase Quantity Model -- Advertising, Market Structure and Performance: A Re-Interpretation of Empirical Findings on the Compatibility of Advertising and Competition -- Selected Bibliography.

Wirtschaftspolitische Maßnahmen, zu denen Politiker in Zeiten der Stagnation greifen, um sich die Gunst ihrer Wähler zu sichern, reflektieren vor allem parteipolitische Interessen und Kompromisse und stellen eher zufällig volkswirtschaftlich sinnvolle Maßnahmen dar. Um auf die makroökonomische Steuerung Einfluss nehmen zu können, ist es wichtig, die Wirkungen wirtschaftspolitischer Maßnahmen abschätzen und wissenschaftlich fundierte Vorschläge machen zu können. Doch dazu sind die meisten Ökonomen in Ermangelung entsprechend umfänglicher Modelle selten in der Lage. Wie sich jedoch gezeigt hat, sind solche Modelle auf dem Gebiet der Politikberatung ein Instrumentarium, das durch den modernen Trend zu immer spezielleren Zeitreihenanalysetechniken nur bedingt ersetzt werden kann. Die vorliegende Studie analysiert die volkswirtschaftlichen Effekte einer Reihe von wirtschaftspolitischen Maßnahmen und sogenannter ""exogener Schocks"" mittels einer öffentlich verfügbaren Version des Konjunkturmodells des Rheinisch-Westfälischen Instituts für Wirtschaftsforschung (KOMO) und eines aktuelleren ökonometrischen Modells mit der Bezeichnung Econometric Model of the German Economy (EMGE), das sich seit 2008 in der Erprobungsphase befindet (www.forschungsseminar.de). Im Ergebnis können sowohl die Größenordnungen als auch der Verlauf der jeweils erzielbaren Wirkungen besser abgeschätzt werden.

The discussion about employee representation on supervisory boards has received much attention from scholars and politicians around the world. We provide new insights to this ongoing debate by employing power indices from game theory to examine the "real" power of employees on boards and its effect on firm performance. Based on unique panel data of the largest listed companies in Germany, we find an inversely U-shaped relationship between labour power and Tobin's Q with a value-maximising labour power of approximately 43 %. Our results are robust to different game theoretical calculations of labour power, as well as various econometric models.

In the context of integrated market, a price of any product in regions depends on its demand in a national market rather than in a regional one. Applying the econometric model based on this theoretical statement, the paper assesses to degree the markets of some food products are integrated. The fact that since nearly 1994 the growth of segmentation in such markets changes to the tendency of their integration has been observed. We conclude that there is an integrated food market in Russia; and its integration has been just the same as that one in the countries of developed market economy. -- price dispersion ; market integration ; food markets ; Russia ; Russian regions

AbstractFarmers should increasingly adopt more water‐efficient irrigation technologies—such as drip irrigation—as a result of climate warming and aggravating water scarcity. We analyze how Italian farmers adapt to climate change by changing their irrigation technology mix. We apply a two‐stage econometric model to data from 5876 Italian farms. We find that farmers' initial reaction to increasing temperatures is reducing their surface‐irrigated fractions. When temperatures increase further, farmers switch toward more sprinkler irrigation. Our results show that farmers are not autonomously moving to drip irrigation in response to climate change, suggesting that government incentives are needed to encourage this transition.

The authors question the validity of Okun's law in Latin America in this paper. Based on several econometric models, they show that fluctuations in economic activity have a lesser impact on unemployment rates in Latin American countries than in other, more advanced economies. Instead of stimulus policies focused on reducing unemployment in general, these countries need targeted policies that encourage job creation in specific sectors. That being said, the unemployment—output ratio differs from one Latin American country to another. Where the ratio is weak or non‐existent, cyclical variations adversely affect the quality of employment – another aspect that must also be addressed by economic policy.

The aim of this study is to understand how spatial effects influence maritime
connectivity. We use a spatial econometric model on panel data for a sample of 114 countries
over the period 2004-2017. The results show that there are positive interaction effects that
describe a center-periphery relation. We focus specifically on two regions: Northern Europe
and the Mediterranean. The results for these two regions indicate substantial differences.
In Northern Europe, there is a significant positive spatial dependence with positive
spillover effects. Conversely, the Mediterranean region is characterized by a negative
spatial dependence, leading to strong competition between countries.

This paper analyzes the role of regional demographic, socioeconomic and political factors on changes in mobility during the COVID-19 pandemic. It provides new empirical evidence for the regional differentiation of lockdown measures and indicates a possible reorganization of spatial economic and social activities beyond the course of the pandemic. Spatial econometric models are analyzed using data from the 401 counties in Germany. Our results show that, for example, current high caseloads are negatively related to changes in mobility, whereas a region's socioeconomic composition and rural location have a positive effect. The political and economic implications of the findings are discussed.

AbstractThis study empirically investigates the impact of bank profitability, as a complementary measure of financial development, on growth in the Arab countries between 1985 and 2016. Using a generalized method of moments (GMM) estimation to test the impact of the bank profitability on growth, this study utilises two variables in the econometric model which are return on assets and return on equity. This study reveals that both variables of bank profitability are positive and significant. This confirms that the bank profitability, beside other financial development variables, has positive impact on the growth. This study points out some important implications based on this result.

Transport infrastructure plays an important role in promoting the socio-economic development in most countries. In particular, the development of road infrastructure is the basis for promoting enterprises development through expanding market access, lowering logistics cost and inputs cost, etc. The focal point of this paper is to estimate the impact of road infrastructure on firm performance through an empirical research in Cuu Long delta area, Vietnam. By applying the econometric models, the results from this study show that the positive relationship between road infrastructure and firm performance in Cuu Long delta area, and that the level of impact is different across business sectors.

This article addresses whether the promotion of China's provincial leadership can be explained through economic growth or alternative factors (experience, education or having previously held a central government post). We use promotion definitions, based on official administrative rankings and a more accurate reflection of political-governmental power relationships, and five econometric models. Analysis is also located within specific scholarship about promotion in the Chinese bureaucracy, bureaucratic cultures and transitions from socialism. Findings suggested some support for the idea that economic growth records affected promotion in terms of the second definition and additional evidence to imply impacts from non-economic factors.

Political economy debates about the influence of power configurations in expanding and maintaining global liberalization ebb and flow with the wax and wane of the concentration of power in the international system. This article engages the debate in a novel way from previous scholarship. Employing a series of econometric models that account for regional power, I argue that the global power concentration is ill fit to be the primary predictor of trade liberalization, but instead, regional power fluctuations can dampen and enhance global trends. By incorporating subsystemic power configurations, we gain a better understanding of the regional variation in states buying into or cashing out of interdependence.

This paper examines the role of political alignment and the electoral business cycle on municipality revenues in Greece for the period 2003-2010. A panel dataset combining local and national elections with local budgets is used to run a fixed-effects econometric model. The findings suggest that municipalities which are politically aligned to the national government receive more funds in the runup to elections. This is evidence of electoral considerations in the allocation of resources and calls for policy changes promoting greater fiscal decentralisation to reduce pork-barrelling and rent-seeking, as well as the dependency between the local and national government levels.

AbstractBy using data extracted from the political manifestos released by national political parties from 27 European Union countries over the 1990–2012 period, we estimate non‐linear econometric models whose aim is to understand the determinants of cross‐country political concern for the 'stability culture'. This expression describes an economic policy perspective based on the aims of providing price stability, fiscally disciplined budgets and rules and procedures that favour public expenditure ceilings. Our findings reveal that parties' commitment to the 'stability culture' is determined by their ideological background and by the national macroeconomic situation in the pre‐electoral year.