摘要:

Why do economic reforms fail in Soviet‐type system despite the obvious interest of ruling groups in improving the performance of their ailing economies? The author applies a property rights based analysis stressing modes of rent‐maximization by ruling groups as a crucial explanatory variable. Party apparatchiks and economic bureaucrats‐particularly benefit from persistent interference in the economic sphere and consequently are most interested in maintaining the status quo. The author surveys the impact of these motivations on the content of economic reforms, outlines the strategies of counterreformers and predicts the future of reforms in Soviet‐type ec

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00811.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The model makes a distinction between “voluntary” and “involuntary” welfare receipt. the findings suggest that among female heads of households, the increase in welfare receipt that occured between 1967 and 1979 was almost completely attributable to an increase in involuntary unemployment and an increase in the proportion of the population that was eligible for welfare (due to changes in program parameters). The passage of time, used as a proxy for changes in the stigma associated with receiving welfare, appears to be a secondary importance. The labor supply response to welfare programs is small, and possibly diminishing ov

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00812.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

An intervention analysis of the Mexican capital control policy of August 1982 shows the policy to have a negative, but temporary, impact on the Mexican deviation from interest rate parity. Previous studies concerning the impact of capital control inteventions have predicted positive effects of capital control policies. These stem from the effective tax capital controls place on foreign capital inflows. When capital controls are also designed to restrict domestic capital outflows, however, their net effect becomes an empirical, rather than theoretical, question.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00813.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

What determined MI growth from November 1979 through October 1982? A reaction function is developed and tested which ascribes the level of M1 to two Fed motives. One is the Fed's desire to hit its money growth targets, the other is to carry out a counter‐cyclical short‐run monetary policy. Both motives are found to be significant during the period. This evidence is consistent with the contention of some economists that the period was not a valid test of monetarist policy ru

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00814.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

The Paper examines the effects of profit sharing in an economy with decentralized wage bargaining. Profit sharing makes workers' income more sensitive to wage changes, and this leads to wage moderation. But economy‐wide profit sharing may also improve worker's outside income opportunities, and this strengthens the union's hand in bargaining and tend to raise wages. It turns out that equilibrium unemployment is reduced by profit sharing as long as the elasticity of substitution between labour and capital is less than one, whereas unemployment is increased if the elasticity of substitution is greater than on

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00815.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Persistent wage rigidity and involuntary unemployment appear to be recurrent problems in most economies. What could be preventing the wage adjustment necessary to clear the labor market? Many recent papers claim to have found the answer in efficiency wage models. This paper surveys this literature and attempts to evaluate its accomplishments. It concludes that the efficiency wage models fail to explain wage rigidity or persistent involuntary unemployment.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00816.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Efficiency wage models, in which firms find it profitable to pay wages above workers' reservation wages, provide a promising explanation for unemployment and interindustry wage differentials. One criticism of such models is they imply firms should sell jobs by requiring up‐front bonds from new workers. However, only some efficiency wage models imply this. Moreover, firms might not require bonds for many reasons. We show that moral hazard and adverse selection models together explain many labor market phenomena. The efficiency wage model conforms well to empirical finding, but certain anomalies suggest the need to consider rent‐sharing mod

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00817.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

An open capital account allows long‐term capital flows to automatically mitigate adverse effects of export instability on domestic saving and investment. An application of portfolio management theory shows that risks that are systematic to the domestic market are diversified internationally. This may help explain why foreign investment finances many high‐risk investments in export sectors of LDCs and why results of studies of the effects of export instability show inconsistent results. This theory is presented and tested empirica

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00818.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Collateral or other security for personal loans and restrictions on creditor remedies for the collection of debts have varying effects on the price and quantity of credit which depend in turn on the level of interest rate ceilings. We report here on reduced‐form equations of a supply‐demand model estimated for five states with different interest rate restrictions. Interest rate ceilings limit how far lenders can raise loan rates to compensate for expected default losses but restrictions on collection remedies are generally associated with a higher interest r

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00819.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY

摘要:

Both taxpayer subsidies to U.S. wheat producers and domestic deadweight losses increased as a result of the U.S. wheat program adopted in 1985. A calculation of the costs and benefits of alternative wheat policies shows that mandatory production controls with no taxpayer expense could have made wheat producers as well off as the adopted policy. Becker's theory of competition among interest groups and Peltzman's theory of the equilibrium amount of regulation are shown to be consistent with the observed policy choice if the list of fnfected interest groups includes agricultural input suppliers and grain marketing firms.

ISSN:0095-2583    

DOI:10.1111/j.1465-7295.1990.tb00820.x

出版商:Blackwell Publishing Ltd    

年代:1990

数据来源: WILEY