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European Journal of Political Economy最新文献

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Politically induced uncertainty and asset-market valuation 政治引发的不确定性和资产市场估值
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102427
{"title":"Politically induced uncertainty and asset-market valuation","authors":"","doi":"10.1016/j.ejpoleco.2023.102427","DOIUrl":"10.1016/j.ejpoleco.2023.102427","url":null,"abstract":"<div><p>We study the consequences of politically induced asset-market uncertainty. Our data are from Poland, where the imposition of a new resource tax<span> was vaguely announced in a single sentence by the prime minister in November 2011. The tax concerned a single company, one of the world's leading copper and silver producers. We show how the announcement, besides imposing losses as expected on shareholders, introduced uncertainty into asset-market valuation.</span></p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102427"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46443921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Coherence of output gaps in the euro area: The impact of the COVID-19 shock 欧元区产出缺口的一致性：COVID-19 冲击的影响
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102369
{"title":"Coherence of output gaps in the euro area: The impact of the COVID-19 shock","authors":"","doi":"10.1016/j.ejpoleco.2023.102369","DOIUrl":"10.1016/j.ejpoleco.2023.102369","url":null,"abstract":"<div><p>Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine whether our measures for business cycle coherence indicate a core versus periphery within EMU. Our results suggest that business cycle coherence did not increase monotonically. The COVID-19 pandemic made that the signs of the output gaps of euro area countries became more similar, but we find large differences in the amplitude of the output gaps across countries.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102369"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9969753/pdf/","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"9707076","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An experiment on donations, personal stories, and bad luck 一个关于捐款、个人故事和坏运气的实验
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102381
{"title":"An experiment on donations, personal stories, and bad luck","authors":"","doi":"10.1016/j.ejpoleco.2023.102381","DOIUrl":"10.1016/j.ejpoleco.2023.102381","url":null,"abstract":"<div><p>We conducted two fundraising experiments to study the effects (1) of compassion towards the beneficiary, and (2) of giving participants an opportunity to attribute small donations to luck. We find that exposing the participants to a plea to help the beneficiary increases the average donation. Giving participants an opportunity to attribute small donations to luck decreases the average donation. We find that in our setting, the latter effect dominates.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102381"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46184640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
More is not always better. Effect of educational expenditures on education quality and social mobility in Switzerland 越多越好。瑞士教育支出对教育质量和社会流动性的影响
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102407
{"title":"More is not always better. Effect of educational expenditures on education quality and social mobility in Switzerland","authors":"","doi":"10.1016/j.ejpoleco.2023.102407","DOIUrl":"10.1016/j.ejpoleco.2023.102407","url":null,"abstract":"<div><p>Over the past 20 years, per-student spending on compulsory education in Switzerland has risen by 52 percent in real terms. However, per-pupil expenditures vary significantly across cantons. The question quickly arises whether “more is always better”. Switzerland lends itself to this analysis because spending authority lies with the cantons and thus provides a good setting for a within-country analysis. We use a new comprehensive dataset to measure educational quality and mobility at the individual level. Our analysis shows that higher cantonal spending does not increase educational quality or mobility. The allocation of education spending seems to be more important than its mere amount. For example, our study suggests a better linguistic integration of foreign-speaking students.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102407"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46327605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The transition of education a cross-country macro analysis 教育转型的跨国宏观分析
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102362
{"title":"The transition of education a cross-country macro analysis","authors":"","doi":"10.1016/j.ejpoleco.2023.102362","DOIUrl":"10.1016/j.ejpoleco.2023.102362","url":null,"abstract":"<div><p>In cross-country data, income and key education variables are strongly correlated. This is mainly due to the long-run transition from traditional to modern society. The paper looks at a flow and a stock variable. The flow is the <em>E-share</em> of GDP for the annual public budget for education. When it is adjusted for the number of school-age children, it becomes the <em>EC-share</em>. The stock is <em>School</em>, which is the number of years the average person has been in school. Both variables are due to demand and supply. People and firms demand human capital needed by production. Governments supply education to increase production. The demand factor works better to explain the strong correlation. Countries with too much or too little education are identified by the deviations from the transition curves for education. Neither deviation has a clear impact on the growth rate. The explanation proposed uses the equilibrium properties of the transition path, where too much education is of no use, while too little is compensated by the private sector.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102362"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S017626802300006X/pdfft?md5=ace64690e8033b11fe6a3ad7f17f42af&pid=1-s2.0-S017626802300006X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44936375","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A gate to the world for all? The reaction of neighborhoods in Hamburg to refugee housing 为所有人打开通往世界的大门？汉堡居民区对难民住房的反应
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102455
{"title":"A gate to the world for all? The reaction of neighborhoods in Hamburg to refugee housing","authors":"","doi":"10.1016/j.ejpoleco.2023.102455","DOIUrl":"10.1016/j.ejpoleco.2023.102455","url":null,"abstract":"<div><p>This paper analyzes the political reaction of residents to refugee housing in their neighborhood. The city of Hamburg, Germany<span>, experienced between 2014 and 2017 large refugee inflows that required many new accommodations. Openings of refugee houses led to an increase of 0.9 percentage points in the vote share of right-wing anti-immigrant parties in a neighborhood. The negative reaction applies to reception centers and follow-up accommodations with different inhabitant compositions. It persisted longer for large houses and was stronger for multiple openings and in areas with worse economic conditions and many foreigners and migrants. The right-wing gains came with losses for the governing party. A matching estimation that accounts for an unbalanced distribution of houses across neighborhoods confirms the negative reaction. Voting gains around accommodations explain only a small part of the electoral success of right-wing parties, but the findings suggest giving more attention to the distribution and housing of refugees.</span></p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102455"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135389226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Bread and the dilemmas of socialist paternalism in Israel, 1948–1977 1948-1977年，面包与以色列社会主义家长制的困境
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102366
{"title":"Bread and the dilemmas of socialist paternalism in Israel, 1948–1977","authors":"","doi":"10.1016/j.ejpoleco.2023.102366","DOIUrl":"10.1016/j.ejpoleco.2023.102366","url":null,"abstract":"<div><p><span>This is the first study of bread regulation in a post-World War II democratic country. Under Israel's Labor Socialist regime, bread was mostly privately supplied. In setting prices, policymakers faced tradeoffs between producer profits/viability of small-scale producers and consumer welfare<span>, and between producer profits and minimizing inflation and real appreciation. Subsidization entailed a tradeoff between producer profits and consumer welfare on one hand, and fiscal responsibility and exchange rate unification on the other hand. We study the regulatory changes that took place as the industry structure evolved, and document the changes that occurred in the revealed weights of producer profits, consumer welfare, fiscal responsibility and exchange rate unification. Over 1952–1977, regulatory reforms accelerated the process of technologically-based rationalization, and policy was strongly pro-consumer. This process did not unfold smoothly: Regulatory changes occurred in four phases, with (sometimes) sharp fluctuations in consumer welfare, producer profits, fiscal policy and </span></span>exchange rate policy.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102366"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48104226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Pro-growth inefficiency: Rents and moral hazard in infrastructure contests in China 支持增长的低效率:中国基础设施竞赛中的租金和道德风险
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102397
{"title":"Pro-growth inefficiency: Rents and moral hazard in infrastructure contests in China","authors":"","doi":"10.1016/j.ejpoleco.2023.102397","DOIUrl":"10.1016/j.ejpoleco.2023.102397","url":null,"abstract":"<div><p>We study contests for promotion of local government leaders orchestrated by the central government in China. The contests rewarded regional economic success. The probability of promotion increased with regional infrastructure investment but we find negative returns from infrastructure. We find feedback between corruption<span> and investment in infrastructure. There was moral hazard – successful local government leaders who were promoted to higher level positions in the government and Party hierarchical structure left behind regional local governments mired in debt or bankruptcy because of debt financing of infrastructure investment that was used to win the center-orchestrated contests. Our study makes a contribution to contest theory by providing an empirical study for rent-seeking contests.</span></p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102397"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43052540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Leader characteristics and constitutional compliance 领导人的特点与遵守宪法
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102423
{"title":"Leader characteristics and constitutional compliance","authors":"","doi":"10.1016/j.ejpoleco.2023.102423","DOIUrl":"10.1016/j.ejpoleco.2023.102423","url":null,"abstract":"<div><p>While research in constitutional economics has made important progress in recent decades, the factors determining whether a constitution is complied with have only received scant attention. We contribute to that narrow literature by studying how personal traits of political leaders are associated with constitutional compliance. Compliance levels of 943 political leaders between 1950 and 2010 can be explained by their education, entry into office, political experience, military background, and whether they are members of extreme left-wing parties. Specifically, under former military officers and Communist leaders, constitutional compliance is significantly lower. The combined effect of these two traits corresponds to the difference between democracy and nondemocracy. This implies a difficult normative question, which we discuss in our conclusion: Should constitutions set entry barriers for high political offices that are based on leader characteristics?</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102423"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135220137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Philanthropy as politics: The precolonial Georgia project for a new start in life for England's poor 慈善与政治：殖民前的格鲁吉亚项目为英国穷人的生活开辟了新的开端
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2024-09-01 DOI: 10.1016/j.ejpoleco.2023.102429
{"title":"Philanthropy as politics: The precolonial Georgia project for a new start in life for England's poor","authors":"","doi":"10.1016/j.ejpoleco.2023.102429","DOIUrl":"10.1016/j.ejpoleco.2023.102429","url":null,"abstract":"<div><p>A fully-funded philanthropic economic project in precolonial Georgia was proclaimed as providing a new start in life for England's poor. The project has been praised for altruism and for being socially progressive through equal land assignment and prohibition of slavery. The project failed as an economic venture but was successful in providing the foundation for Georgia eventually becoming a possession of the British crown. I adopt a political-economy perspective to investigate whether the philanthropic project was a façade for political intent.</p></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"84 ","pages":"Article 102429"},"PeriodicalIF":2.3,"publicationDate":"2024-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46954314","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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