Всего публикаций в данном разделе: 22246
Estimating the effect of unearned income on labor earnings, savings, and consumption: Evidence from a survey of lottery players [статья]
Опубликовано на портале: 15-12-2002Guido W. Imbens, Donald B. Rubin American Economic Review. 2001. Vol. 91. No. 4. P. 778-794.
This paper provides empirical evidence about the effect of unearned income on earnings. consumption, and savings. Using an original survey of people playing the lottery in Massachusetts in the mid-1980's, the effects of the magnitude of lottery prizes on economic behavior are analyzed. The critical assumption is that among lottery winners the magnitude of the prize is randomly assigned. It is found that unearned income reduces labor earnings, with a marginal propensity to consume leisure of approximately 11 percent, with larger effects for individuals between 55 and 65 years old. After receiving about half their prize, individuals saved about 16 percent.
Does money illusion matter? [статья]
Опубликовано на портале: 15-12-2002Ernst Fehr, Jean-Robert Tyran American Economic Review. 2001. Vol. 91. No. 5. P. 1239-1262.
This paper shows that a small amount of individual-level money illusion may cause considerable aggregate nominal inertia after a negative nominal shock. In addition, the results indicate that negative and positive nominal shocks have asymmetric effects because of money illusion. While nominal inertia is quite substantial and long lasting after a negative shock, it is rather small after a positive shock.
Опубликовано на портале: 15-12-2002Brian L. Goff, Robert E. McCormick, Robert D. Tollison American Economic Review. 2002. Vol. 92. No. 1. P. 16-26.
This paper treats racial integration as an innovation in economic process in which economic entities find it advantageous to utilize potentially more productive inputs previously unavailable due to law, custom, or managerial discretion. Data on the racial integration of Major League Baseball and Atlantic Coast Conference basketball are employed to address this issue. The central question examined is which type of team integrated first - losers or winners. The results strongly support the idea that entrepreneurship trumps competitive rivalry; that is, winning teams led the process of racial integration.
Markets and Diversity [статья]
Опубликовано на портале: 15-12-2002Sherwin Rosen American Economic Review. 2002. Vol. 92. No. 1. P. 1-15.
Despite the importance of diversity in economic life, only a small part of economic theory is devoted to analyzing differences. Competitive markets value diversity and sort out complex patterns of tastes and technologies that translate into supply of and demand for an enormous variety of products and factors of production. The theory of diversity applies universally and is manifest in many economic problems. This paper explores 3 themes: Markets value diversity, markets sort buyers and sellers appropriately to take advantage of heterogeneous talents and tastes, and sorting and choice create income inequality.
Опубликовано на портале: 15-12-2002Laura Chadwick, Gary Solon American Economic Review. 2002. Vol. 92. No. 1. P. 335-344.
New evidence on daughters' intergenerational mobility in a framework that encompasses women not in the labor force, using broader measures of economic status than just the women's own earnings, is presented, and the role of husbands' earnings is highlighted. A parallel analysis of sons' mobility is performed. Intergenerational transmission of income status may be weaker for daughters than for sons, but is still quite substantial. Assortative mating is an important element in the intergenerational transmission process.
Опубликовано на портале: 15-12-2002Lutz Hendricks American Economic Review. 2002. Vol. 92. No. 1. P. 198-219.
This paper offers new evidence on the sources of cross-country income differences. It exploits the idea that observing immigrant workers from different countries in the same labor market provides an opportunity to estimate their human-capital endowments. These estimates suggest that human and physical capital account for only a fraction of cross-country income differences. For countries below 40% of the US output per worker, less than half of the output gap relative to the US is attributed to human and physical capital.
Опубликовано на портале: 15-12-2002Jere R. Behrman, Mark R. Rosenzweig American Economic Review. 2002. Vol. 92. No. 1. P. 323-334.
The positive cross-sectional relationship between the schooling of mothers and their children is substantially biased upward due to correlations between schooling and heritable ability as well as assortative mating. An increase in the schooling of women would not have beneficial effects in terms of the schooling of children. Increased maternal schooling leads to reduced home time for mothers. Anticipating the consequences of investing in women's schooling requires attention to the role that schooling plays in the marriage market as well as to opportunities in the labor market for women.
Опубликовано на портале: 15-12-2002Christos Kotsogiannis, Michael J. Keen American Economic Review. 2002. Vol. 92. No. 1. P. 363-370.
The relative strengths of vertical and horizontal tax externalities turn on the balance between the interest responsiveness of the supply of savings and demand for capital, the extent to which immobile factors are taxed by the states, and the strength of preferences between federal and state expenditures. The vertical externality will dominate if the aggregate tax base of the federation is responsible to the state tax instrument. Tax interactions in federations are more complex than has often been supposed.
Опубликовано на портале: 15-12-2002Gerald E. Auten, Holger Sieg, Charles Clotfelter American Economic Review. 2002. Vol. 92. No. 1. P. 371-382.
This study implies that taxes affect the level of contributions by way of a price effect and an income effect, each of which has two components, a transitory one and a persistent one. The findings suggest that persistent shocks in incomes have a larger impact on charitable donations than do their transitory counterparts. The most important behavioral aspect for considerations of tax policy is the persistent price effect, since transitory effects are passing. Through this effect tax reforms can have a long-lasting influence on charitable giving.
Опубликовано на портале: 15-12-2002Jan-Peter Olters American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 79-102.
Elections, often to a considerable degree, influence the fiscal policies of governments installed on the basis of their results. Yet, economists have tended to view politicians' behavior either as being determined exogenously or as the result of a social planner's maximization of a well-defined social-welfare function (subject to some appropriate technology and resource constraints). On the basis of explicit microeconomic foundations and a democratically coordinated decision-making mechanism over the optimal provision of public goods and the corresponding taxes required to finance them, this paper will introduce a simple economic model of politics that subjects individuals to a two-tiered political decision-making process over party membership and electoral participation, thereby endogenizing the evolution of the competing parties' ideologies, households' electoral behavior, and the key factors explaining the design of fiscal policies. Having the majority party's median delegate determine on the optimal degree of income redistribution suggests that a country's wealth distribution is a crucial explanatory variable explaining its politico-economic development path.
Toward capitalism or away from Russia? Early stage of post-Soviet economic reforms in Belarus and the Baltics [статья]
Опубликовано на портале: 15-12-2002Andrew Savchenko American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 233-257.
While at the start of systemic economic transformations in Eastern Europe, both indigenous reformers and Western observers tended to interpret the events as a rationally conceived and executed replacement of an economic system of inferior performance by another one whose superiority was proven, the developments that followed the disintegration of the Soviet polity did not support this view. Shortly after the former Soviet republics gained independence, they exhibited marked variations in speed and sometimes direction of market transformation that could not be satisfactorily explained within the framework of economic theories used by promoters of reforms. This paper compares the early stages of economic transformation in Belarus, where reforms were eventually abandoned, with the three Baltic states (Latvia, Lithuania, Estonia), which are the most successful emerging market economies among the former Soviet republics. Non-economic factors that might have contributed to this difference are highlighted.
Опубликовано на портале: 15-12-2002Vladimir Kollontai American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 217-232.
This paper analyzes some of the problems created by a rapidly changing interaction between the political and the economic spheres in society. In periods of condensed social change this interaction is profoundly different from customary evolutionary developments. In Russia, various political economic concepts during the last century have led to profound shifts in economic mechanisms and structures (first toward a planned economy, later toward a market one). A knowledge of this experience (and the new problems that surface) might be useful if globalization, environmental issues and the transition to a post-industrial society should lead to periods of condensed socioeconomic change in the West.
Опубликовано на портале: 15-12-2002Shuntian Yao American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 279-299.
This paper examines China's corruption problem with the help of several simple economic models. The concepts of implicit corruption and explicit corruption are proposed. The granting of privileges has directly created implicit corruption in China's socialist market economy. The long-term existence of the same privileged group in Chinese society has led to widespread collusion among its members, and as a result, these privileged group members, by utilizing their monopoly power, are able to seize almost all the wealth created by the ordinary Chinese people. This seizure is accomplished by means of a two-part tariff in pricing their administrative service, which is the essence of the explicit corruption. Because both implicit corruption and explicit corruption are generated by China's political system, which grants and protects privileges, unless a political reform is initiated and privileges are eliminated, China's problem of corruption will never be solved.
Опубликовано на портале: 15-12-2002Peter J. Boettke, Virgil Henry Storr American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 161-191.
This paper explores the relationship of Max Weber's social economics to the work of the Austrian School of Economics, and in particular the writings of Ludwig von Mises and F. A. Hayek. It argues that the Austrian school scholars complement and extend the work of Weber. The sophisticated form of methodological individualism found in Weber, Mises and Hayek overcomes the shortcomings of traditional economic and sociological analysis and could provide the analytical structure for a post-classical political economy.
Political culture, economic structure and policy: The Laffont-Tirole model extended to modern Japan [статья]
Опубликовано на портале: 15-12-2002Warren Young, Joris Meijaard American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 301-326.
This paper deals with two issues. By linking culture and political systems, alternatives to the Developmental State approach are developed and the Bureaucratic State, among other types, is proposed for explaining the case of Japan. The Laffont-Tirole (L-T) model of regulatory capture is extended and a bureaucratic capture model is proposed. Variations of capture are shown to apply, given particular cultural predispositions. The case of atomic energy in Japan and the United States is then studied to assess the predictive efficacy of the extended L-T model. The paper concludes that cultural predispositions and the corresponding state types affect the degree to which capture takes place.
New political economy, scientism and knowledge: A critique from a Hayekian perspective and a proposal for an extension of the research agenda [статья]
Опубликовано на портале: 15-12-2002Jan Schnellenbach American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 193-214.
New political economy has something very important in common with welfare economics: its focus on static, technical efficiency criteria to judge the rationality of a social, political or economic order. This often leads theorists to perceive their objects of research as well-defined problems to which clear-cut solutions can be found and prescribed as policy proposals, addressed at the policymaker or the democratic sovereign. This perspective frequently excludes important empirical phenomena from the research agenda. Although, for example, certain well-defined informational asymmetries are frequently modeled, fundamental knowledge problems such as ignorance of the true model of the economy are usually ignored. In the present paper, this approach is criticized from a Hayekian point of view, with an emphasis on the problems of scientism (i.e., the inappropriate transfer of methods from the natural to the social sciences) and irremediably imperfect knowledge, troubling both the agents in the theoretical model and the theorist.
Опубликовано на портале: 15-12-2002John Marangos American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 259-276.
The neoclassical model of transition from a centrally-administered socialist economic system to a market-based economic system was implemented in Russia and Eastern Europe. The neoclassical process took the form of either shock therapy or gradualism. However, each approach actually involved a combination of shock therapy and gradualist policies, making the distinction between the two approaches unfounded. In addition, both approaches suffered by the innate inadequacies of neoclassical economic analysis as being politically/institutionally naked. Both shock therapy supporters and gradualist neoclassical economists did not provide a specific process of institutional development, favoring a gradual market-driven institutional outcome. With regard to the political structure, democracy was inconsistent with shock therapy, while active state intervention during transition was inconsistent with the ultimate goal of the gradualist neoclassical economists of competitive capitalism.
"New political economies" then and now: Economic theory and the mutation of political doctrine [статья]
Опубликовано на портале: 15-12-2002A.M.C. Waterman American Journal of Economics and Sociology. 2002. Vol. 61. No. 1. P. 13-51.
This article is concerned with the positive sense of political economy: that is, as a body of theory that purports to explain economic phenomena. It proposes a following strong thesis for debate: The new political economies of the present day differ sharply in their ideological implications from those of 50 years ago. Neoclassical orthodoxy provided the intellectual foundations of a collectivist political consensus. But the new political economies have destroyed those foundations, and have replaced them with economic theories far more congenial to an earlier, laissez-faire consensus born in the European Enlightenment.
The long and bumpy road to glass-steagall reform: A historical and evolutionary analysis of banking legislation [статья]
Опубликовано на портале: 15-12-2002Jill M. Hendrickson American Journal of Economics and Sociology. 2001. Vol. 60. No. 4. P. 849-879.
This paper focuses on understanding the role of interest groups and markets in influencing regulatory change. To that end, it first identities the interest groups surrounding the creation of legislation that separated commercial and investment banking in the 1930s and then identifies the interest groups involved in the more recent attempts to repeal the separation. Careful attention is also given to developments in the private market that affect the legislative process. This particular case study finds that existing orthodox economic and political science literature gives too much credit to interest groups and not enough credit to private market developments when analyzing policy development and reform.
Social inequality and the sociology of life style: Material and cultural aspects of social stratification [статья]
Опубликовано на портале: 15-12-2002Dieter Bogenhold American Journal of Economics and Sociology. 2001. Vol. 60. No. 4. P. 829-847.
The rising importance of dimensions such as age, gender, nationality, ethnicity, political attitudes, and multiple choices to organize the notion of life course has made the older class concept appear obsolete to the research sociologist. A thesis is that the current expanding discussions of life styles are not necessarily a substitute but a valuable supplement to social stratification theory. Life style research can contribute to the question of the relevance of the class concept. The result of the investigation shows that life style research, when connected to the writings of Thorstein Veblen, Georg Simmel, and Max Weber, can enrich research in the social sciences.