Review of Economic Analysis最新文献

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Corruption, Public Expenditure and Human Capital Accumulation 腐败、公共支出与人力资本积累
IF 0.5
Review of Economic Analysis Pub Date : 2013-02-01 DOI: 10.15353/rea.v8i1.1430
Spyridon Boikos
{"title":"Corruption, Public Expenditure and Human Capital Accumulation","authors":"Spyridon Boikos","doi":"10.15353/rea.v8i1.1430","DOIUrl":"https://doi.org/10.15353/rea.v8i1.1430","url":null,"abstract":"This paper investigates the possible non-linear effect of corruption on human capital accumulation through two channels. The first channel is through the effect of corruption on the public expenditure on education and the second channel is through the effect of corruption on the physical capital investment. Initially, we construct an endogenous two-sector growth model with human capital accumulation and we try to explore the impact of corruption on the allocation of public expenditure and therefore on the distribution of human capital across sectors. Then by using a semi-parametric method, we confirm the presence of non-linearities between human capital and corruption.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2013-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66906381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
Weak* Axiom of Independence and the Non-Expected Utility Theory 弱*独立公理与非期望效用理论
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1535
Tapan Biswas
{"title":"Weak* Axiom of Independence and the Non-Expected Utility Theory","authors":"Tapan Biswas","doi":"10.15353/rea.v4i1.1535","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1535","url":null,"abstract":"The axiomatic foundation of the expected utility theory (which states that given a set of uncertain prospects individuals pick up the prospect which yields the highest expected utility) was first laid down by Von Neumann and Morgenstern (1947). This axiom has come under severe criticisms in recent years. A large number of experiments have shown that in making decisions involving uncertain prospects people frequently violate the independence axiom. In this paper we shall consider the problem of choice under uncertainty from a wider point of view and we shall examine the nature of the restriction imposed by the axiom of independence. We shall use the mean-variance utility function to prove our point. Then we shall consider a weak version of the independence axiom namely the weak* axiom of independence. This is the point of departure from the expected utility theory to the realm of the non-expected utility theory. The weak* axiom allows aversion to pure uncertainty and, in the context of the mean-variance utility theory, it is compatible with utility being an increasing function of expected returns at all levels.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66903996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Editor's Foreword 编辑前言
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1529
Jerzy D. Konieczny
{"title":"Editor's Foreword","authors":"Jerzy D. Konieczny","doi":"10.15353/rea.v4i1.1529","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1529","url":null,"abstract":"This issue is dedicated to the memory of Tapan Biswas,  who passed away on July 3, 2010. Tapan was a founding associate editor of the Review  of Economic Analysis and a great colleague of many of people involved with the journal. The issue begins with In Memoriam by Gianluigi Pelloni, followed by a previously unpublished paper, joint with Taradas Bandyopadhyay on which Tapan was working at the time of his untimely death and by Tapan’s best published papers. I would like to thank all publishers of Tapan’s work for agreeing to republish his papers. The copyright belongs to the original publishers and no part of this issue, except for the first paper, can be reproduced in any form without their permission. Jerzy (Jurek) Konieczny","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66903923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Stochastic Dominance and Comparative Risk Aversion 随机优势与比较风险厌恶
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1538
Tapan Biswas
{"title":"Stochastic Dominance and Comparative Risk Aversion","authors":"Tapan Biswas","doi":"10.15353/rea.v4i1.1538","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1538","url":null,"abstract":"No abstract available","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66904061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Least Concave Ordinal Utility Function and the Marshalian Cardinal Utility 最小凹序效用函数与马歇尔基数效用
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1531
Taradas Bandyopadhyay, Tapan Biswas
{"title":"Least Concave Ordinal Utility Function and the Marshalian Cardinal Utility","authors":"Taradas Bandyopadhyay, Tapan Biswas","doi":"10.15353/rea.v4i1.1531","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1531","url":null,"abstract":"This paper examines the conditions under which the Marshallian type of cardinal utility function can be derived from a class of ordinal utility functions.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66904206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Relation Between Prices of Factors and Goods in General Equilibrium 一般均衡下要素价格与商品价格的关系
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1534
Taradas Bandyopadhyay, Tapan Biswas
{"title":"The Relation Between Prices of Factors and Goods in General Equilibrium","authors":"Taradas Bandyopadhyay, Tapan Biswas","doi":"10.15353/rea.v4i1.1534","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1534","url":null,"abstract":"In an n x n economy, the relation between commodity prices and factor prices has been presented in terms of finite variations. Using a generalization of the dominant diagonal condition on the Jacobian of the set of unit cost functions, this paper shows that a rise in the price of any commodity will bring about an increase in the earnings of the corresponding factor, making no other factor better off than that factor while the earnings of at least one other factor will not increase. Strengthening the requirement further shows that the earnings of at least one factor will decline.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66903938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Monopolistic Competition in a Large Economy 大经济体中的垄断竞争
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1539
Tapan Biswas
{"title":"Monopolistic Competition in a Large Economy","authors":"Tapan Biswas","doi":"10.15353/rea.v4i1.1539","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1539","url":null,"abstract":"Fort a small economy, the equilibrium under monopolistic competition may not be Pareto optimal. The paper deals with the condition for the existence and Pareto optimality of equilibrium under monopolistic competition in a large economy with differentiated products.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66904735","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
In memoriam: Tapan Biswas (1942-2010) 纪念:塔潘·比斯瓦斯(1942-2010)
IF 0.5
Review of Economic Analysis Pub Date : 2012-05-22 DOI: 10.15353/rea.v4i1.1530
G. Pelloni
{"title":"In memoriam: Tapan Biswas (1942-2010)","authors":"G. Pelloni","doi":"10.15353/rea.v4i1.1530","DOIUrl":"https://doi.org/10.15353/rea.v4i1.1530","url":null,"abstract":"This issue is dedicated to the memory of Tapan Biswas.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2012-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66904041","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Effect of Emissions on U.S. State Total Factor Productivity Growth 排放对美国各州全要素生产率增长的影响
IF 0.5
Review of Economic Analysis Pub Date : 2011-09-30 DOI: 10.15353/rea.v3i2.1460
Neophyta Empora, T. Mamuneas
{"title":"The Effect of Emissions on U.S. State Total Factor Productivity Growth","authors":"Neophyta Empora, T. Mamuneas","doi":"10.15353/rea.v3i2.1460","DOIUrl":"https://doi.org/10.15353/rea.v3i2.1460","url":null,"abstract":"This paper investigates the effect of sulphur dioxide (SO2) and nitrogen oxide (NOx) emissions on the Total Factor Productivity (TFP) growth among 48 contiguous U.S. states, for the period 1965-2002. The relationship between TFP growth and emissions is examined using nonparametric econometric techniques that allow for the estimation of the elasticity of pollution for each state and each period and to account for possible nonlinearities in the data. The results indicate that both pollutants positively affect TFP growth. Moreover this effect is nonlinear. The average output elasticity for all states is 0.005 for SO2 and 0.04 for NOx emissions.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2011-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66904327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Can Dynamic Panel Data Explain the Finance-Growth Link? An Empirical Likelihood Approach 动态面板数据能否解释金融与增长之间的联系?经验似然法
IF 0.5
Review of Economic Analysis Pub Date : 2011-09-30 DOI: 10.15353/rea.v3i2.1459
Umut Oguzoglu, T. Stengos
{"title":"Can Dynamic Panel Data Explain the Finance-Growth Link? An Empirical Likelihood Approach","authors":"Umut Oguzoglu, T. Stengos","doi":"10.15353/rea.v3i2.1459","DOIUrl":"https://doi.org/10.15353/rea.v3i2.1459","url":null,"abstract":"The short run effect of the financial intermediary development on economic growth is analyzed using an unbalanced panel of 77 countries covering 35 years. Empirical Likelihood (EL) estimation is used and compared to more conventional GMM methods that weight moment conditions equally over the sample. However, if a part of the data is associated with only weak instruments, GMM estimators are subject to considerable small sample bias. EL appropriately re-weights the moment restrictions to deal with that problem. Using EL, we obtain more robust estimates of the effect of financial intermediation on economic growth than GMM.","PeriodicalId":42350,"journal":{"name":"Review of Economic Analysis","volume":"1 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2011-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66903811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
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