Political Economy Commons^™

Elections And Economic Turbulence In Brazil: Candidates, Voters, And Investors, Tony Petros Spanakos, Lucio R. Renno

Department of Political Science and Law Faculty Scholarship and Creative Works

The relation between elections and the economy in Latin America might be understood by considering the agency of candidates and the issue of policy preference congruence between investors and voters. The preference congruence model proposed in this article highlights political risk in emerging markets. Certain risk features increase the role of candidate campaign rhetoric and investor preferences in elections. When politicians propose policies that can appease voters and investors, elections may have a limited effect on economic indicators, such as inflation. But when voter and investor priorities differ significantly, deterioration of economic indicators is more likely. Moreover, voter and investor …

The Economic Crisis Is Showing The Decline Of Western World-Wide Hegemony - Portuguese Translation -, Ugo Mattei

Ugo Mattei

O Ocidente está em recessão, o que significa estagnação e a interrupção do crescimento. Por si só, poderia se tratar de uma simples interrupção cíclica, e boa parte dos meios de comunicação “oficiais” procuram veicular essa idéia. Um, dois anos de “vacas magras”, um novo “Bretton Woods”, como se costuma dizer agora, e o modelo capitalista, fundado na democracia-liberal, voltará a ser o melhor sistema possível. Segundo outros observadores, poderemos, pelo contrário, nos encontrar frente a um colapso sistêmico, semelhante ao que sacudiu o modelo soviético. Ambas as perspectivas são compatíveis com o fato de que a liderança do Ocidente …

Washington Heights/Inwood Demographic, Economic, And Social Transformations 1990 – 2005 With A Special Focus On The Dominican Population, Laird Bergad

Center for Latin American, Caribbean, and Latino Studies

Introduction: This report examines demographic and socioeconomic factors concerning New York City based Latinos in Washington Heights and Inwood – particularly Dominicans.

Methods: Data on Latinos and other racial/ethnic groups were obtained from the U.S. Census Bureau American Community Survey, reorganized for public use by the Minnesota Population Center, University of Minnesota, IPUMSusa. Cases in the dataset were weighted and analyzed to produce population estimates.

Results: Since the 1980s the upper Manhattan neighborhood of Washington Heights/Inwood has been transformed by the immigration of a large Latino population of whom Dominicans have been the most prominent national group. Latinos made up …

Modeling The Economic Impacts Of Large Deployments On Local Communities, Aaron L. Gregory

Theses and Dissertations

The Global War on Terrorism has required the large scale deployment of active-duty troops to support operations in Afghanistan and Iraq. This thesis presents an economic analysis of the impacts these deployments have had on local communities as measured by changes in local retail sales. County level data from Colorado, Kansas, North Carolina, and Tennessee were combined with open source deployment information to construct panel models. Panel model analysis is a form of regression that combines cross-sectional and time-series dimensions. Seasonality and general economic conditions were also incorporated into the model. The goal of this research is to provide an …

Can Public Debt Enhance Democracy?, Clayton P. Gillette

William & Mary Law Review

This Essay draws on historical and current examples to examine the extent to which public creditors can enhance democracy by monitoring public officials in a manner that compensates for the failures of the government debtor's constituents to monitor public officials. Creditors and constituents may share significant interests, depending on the structure of security arrangements for public debt and the identity of the debtors. Where interests overlap, the capacity of creditors to overcome collective action problems suffered by constituents may transform creditors into surrogates for constituents. Whether creditors are willing to play this role, however, may depend on the existence of …

Aristotle's Difficult Relationship With Modern Economic Theory, Spencer J. Pack

Economics Faculty Publications

This paper reviews Aristotle's problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle's views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes …

Relative Inflation-Forecast As Monetary Policy Target For Convergence To The Euro, Lucjan T. Orlowski

WCBT Faculty Publications

A monetary policy framework based on targeting a relative inflation-forecast is proposed for the economies converging to the euro. Such strategy aims at containing the differentials between the domestic and the implicit monetary union inflation-forecasts. Hence, these differentials become a basis for setting an operational policy target. The proposed framework can be viewed as an extension of flexible inflation targeting that prioritizes low and stable inflation over the exchange rate stability. It is believed to be consistent with the Maastricht convergence criteria and can be implemented in concurrence with the exchange rate stability benchmark for the ERM2. Several empirical tests …

Water Borne Diseases And Rural Development In Sudan Study Of Malaria In Gezira Irrigated Agricultural Scheme, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Gezira irrigated scheme is globally one of the biggest agricultural productive units administratively managed. It has seen deteriorating productivity for the past two decades. There cries that it should be privatized. That was seriously taken by the government in an economic liquidation of its assets. However, in this study we discuss analyze other aspects than the previously mentioned aspects of production parameters. We focus of health economics and how gradual negligence led to the prevalence of waterborne diseases. That degenerated farmers' abilities to produce. The present study was carried out in the Gezira scheme to measure the impact of water …

Paying Teachers To Earn Advanced Degrees: Evidence On Student Performance In Georgia, Noel D. Campbell, Edward J. Lopez

Faculty Publications

No abstract provided.

Determinants Of Historic And Cultural Landmark Designation: Why We Preserve What We Preserve, Douglas S. Noonan, Douglas J. Krupka

Douglas S. Noonan

There is much interest among cultural economists in assessing the effects of heritage preservation policies. There has been less interest in modeling the policy choices made in historic and cultural landmark preservation. This paper builds an economic model of a landmark designation that highlights the tensions between the interests of owners of cultural amenities and the interests of the neighboring community. We perform empirical tests by estimating a discrete choice model for landmark preservation using data from Chicago, combining the Chicago Historical Resources Survey of over 17,000 historic structures with property sales, Census, and other geographic data. The data allow …

The Labor Market Of Italian Politicians, Antonio Merlo, Vincenzo Galasso, Massimiliano Landi, Andrea Mattozzi

Research Collection School Of Economics

We analyze the career profiles of Italian legislators in the post-war period. Using a unique, newly collected dataset that contains detailed information on all the politicians who have been elected to the Italian Parliament between 1948 and 2008, we address a number of important issues that pertain to their career paths prior to election to Parliament, their parliamentary careers, and their post-Parliament employment. Our data span two institutional regimes: Italy's First Republic (1948-1994) and the Second Republic (1994-present), characterized by different electoral rules and party structures. We first present a brief overview of the Italian political system. We then provide …

The Immigration Paradox: Alien Workers And Distributive Justice, Howard F. Chang

All Faculty Scholarship

The immigration of relatively unskilled workers poses a fundamental problem for liberals. While from the perspective of the economic welfare of natives, the optimal policy would be to admit these aliens as guest workers, this policy would violate liberal ideals. These ideals would treat these workers as equals, entitled to access to citizenship and to the full set of public benefits provided to citizens. If the welfare of incumbent residents determines admissions policies, however, and we anticipate the fiscal burden that the immigration of the poor would impose, then our welfare criterion would preclude the admission of relatively unskilled workers …

The Rise Of Agrarian Capitalism With Chinese Characteristics: Agricultural Modernization, Agribusiness And Collective Land Rights, Qian Forrest Zhang, John A. Donaldson

Research Collection School of Social Sciences

The article discusses the agricultural transformation taking place in the rural areas of China. Details about the Chinese laws regarding rural reform and the effect they have had on rural Chinese farmers and families are included. The authors examine the expansion of agrarian capitalism in China and describe the rise of agribusiness in rural Chinese areas. The practices of Chinese agribusinesses and the Chinese land rights laws are explored. The relationships between individual farmers and agribusinesses is also examined.

Rethinking Broadband Internet Access, Daniel F. Spulber, Christopher S. Yoo

All Faculty Scholarship

The emergence of broadband Internet technologies, such as cable modem and digital subscriber line (DSL) systems, has reopened debates over how the Internet should be regulated. Advocates of network neutrality and open access to cable modem systems have proposed extending the regulatory regime developed to govern conventional telephone and narrowband Internet service to broadband. A critical analysis of the rationales traditionally invoked to justify the regulation of telecommunications networks--such as natural monopoly, network economic effects, vertical exclusion, and the dangers of ruinous competition--reveals that those rationales depend on empirical and theoretical preconditions that do not apply to broadband. In addition, …

A Difusão Do Orçamento Participativo Brasileiro: ‘Boas Práticas' Devem Ser Promovidas?, Brian Wampler

Political Science Faculty Publications and Presentations

The "third wave" of democratization has been accompanied by the spread of new institutions that allow citizens to deliberate and decide policy outcomes. Leading international organizations, such as the World Bank and the United Nations, have disseminated "best practice" programs identified with "good government" policy reform efforts. One of the most well-known programs, Participatory Budgeting (PB), was first adopted by Brazil's Workers' Party (PT) in 1989 as a means to promote social justice, accountability, and transparency. There has been widespread adoption of PB in Brazil, led by the PT. Yet, by 2001, nearly half of PB programs had been adopted …

Grasping The Small: The Political Economy Of Growth, Poverty And The Role Of The State In Two Chinese Provinces, John A. Donaldson

Research Collection School of Social Sciences

No abstract provided.

Information Aggregation In Polls, John Morgan, Phillip C. Stocken

Dartmouth Scholarship

We study information transmission via polling. A policymaker polls constituents, who differ in their information and ideology, to determine policy. Full revelation is an equilibrium in a poll with a small sample, but not with a large one. In large polls, full information aggregation can arise in an equilibrium where constituents endogenously sort themselves into centrists, who respond truthfully, and extremists, who do not. We find polling statistics that ignore strategic behavior yield biased estimators and mischaracterize the poll's margin of error. We construct estimators that account for strategic behavior. Finally, we compare polls and elections.

La Larga Marcha Del Topo Neoliberal Y La Ideología Del Reformismo, Ugo Mattei

Ugo Mattei

El reformismo se ha convertido en palabra clave de una nueva ideología que predica el evangelio del crecimiento económico mientras el populismo recita el mantra de la seguridad y de un renovado proteccionismo de base supranacional de las comunidades locales. El ejemplo más significativo de mitigación de los efectos del libre mercado en el mundo son los proyectos de la Fundación de Melinda y Bill Gates. O la propuesta de una tercera vía que supere la distinción entre izquierda y derecha.

Economic Inequality In The New European Union: Are Monetary Policies In The European Union Unfair For Certain Countries?, Gregory Eric Banach

Dissertations

This research is focused on the affect one uniform monetary policy will have on the less developed countries that entered the European Union (EU) in 2004. One of the challenges facing the new entrants involves the required implementation of monetary policy goals, even though these new entrants do not have a vote on how the monetary policy is determined. Monetary policy in the EU is the responsibility of the European Central Bank (ECB) who has a stated goal price stability. It is possible to use the Taylor Rule to test whether the ECB focuses on price stability for both old …

The Decentralization Of Collective Bargaining: A Literature Review And Comparative Analysis, Harry C. Katz

Harry C Katz

"The author reviews evidence that the bargaining structure is becoming more decentralized in Sweden, Australia, the former West Germany, Italy, the United Kingdom, and the United States, although In somewhat different degrees and ways from country to country. He then examines the various hypotheses that have been offered to explain the significant trend Shifts In bargaining power, as well as the diversification of corporate and worker Interests, have played a part in this change, he concludes, but work reorganization has been more influential still. He also explores how the roles of central unions and corporate industrial relations staffs are challenged …

Money Is Time: The Monetary Expression Of Value In Marx's Theory Of Value, David Kristjanson-Gural

Faculty Journal Articles

In this article, I derive the monetary expression of value based upon commodity money and use it to translate values and exchange values from units of labor into units of money. While this analysis has been done at the initial stage of Marx’s analysis where he assumes that commodities exchange in proportion to their values, I derive the monetary expression of value at the more developed stage of Marx’s 10 analysis where commodities exchange according to prices of production. I then develop a macroeconomic measure of the monetary expression of value and link the micro- and macroeconomic determination of the …

Organizational Perspectives On Contracts, Gordon Smith, Brayden King

D. Gordon Smith

Voting In Kenya: Putting Ethnicity In Perspective, Michael Bratton, Mwangi S. Kimenyi

Economics Working Papers

Do Kenyans vote according to ethnic identities or policy interests? Based on results from a national probability sample survey conducted in the first week of December 2007, this article shows that, while ethnic origins drive voting patterns, elections in Kenya amount to more than a mere ethnic census. We start by reviewing how Kenyans see themselves, which is mainly in non-ethnic terms. We then report on how they see others, whom they fear will organize politically along ethnic lines. People therefore vote defensively in ethnic blocs, but not exclusively. In Decem- ber 2007, they also took particular policy issues into …

Why Is The Oecd Involved In The Heiligendamm Process?, Richard Woodward

Books/Book Chapters

No abstract provided.

Moving Beyond Markets And Minimalism: Democracy In The Era Of Globalization, Richard Burchill

Human Rights & Human Welfare

A review of:

Democracy as Human Rights: Freedom and Equality in the Age of Globalization by Michael Goodhart. London: Routledge, 2005.

Derail The Federal Gravy Train: A Normative Audit Of America's Economic Policy Debate, Don P. Diffine Ph.D.

Belden Center Monographs

No abstract provided.

Japan And The World: Japan’S Contemporary Geopolitical Challenges – A Volume In Honor Of The Memory And Intellectual Legacy Of Asakawa Kan’Ichi, Frances Rosenbluth, Masaru Kohno

CEAS Occasional Publication Series

Yale CEAS Occasional Publication Series - Volume 2

‘Housing As Social Right Or Means To Wealth? Comparing The Politics Of Property Booms In Australia And Denmark’, Jens L. Mortensen, Leonard Seabrooke

Leonard Seabrooke

Should housing be considered a social right or a means to wealth? This article compares changes to taxation and housing finance regimes in a liberal market for residential property, Australia, and a corporatist market, Denmark. During the last decade, regulatory changes to taxation and housing finance systems in Australia and Denmark facilitated residential property booms. These reforms, particularly those following financial deregulation, introduced new mortgage instruments and changed economic incentives for selecting residential property as an investment vehicle. The reforms may also be associated with a more general process of transforming taxation and housing finance regimes to favour conception of …

‘Varieties Of Residential Capitalism In The International Political Economy: New Politics In Old Welfare States’, Herman M. Schwartz, Leonard Seabrooke

Leonard Seabrooke

Comparative and international political economy are justifiably obsessed with finance as a source of power and as a key causal force for domestic and international economic outcomes. Yet both CPE and IPE ignore the single largest asset in people’s everyday lives and one of the biggest financial assets in most economies: residential property and its associated mortgage debt. This special issue argues that residential housing and housing finance systems have important causal consequences for political behavior, social stability, the structure of welfare states, and macro-economic outcomes. The articles examine specific instances across a range of countries. This introduction has broader …

Investment Credit Availability - Bank Enterprise Relations In Poland, Joanna Tyrowicz

Joanna Tyrowicz

The complaints about insufficient private investment are frequent in Poland. Equally often do we hear the criticism of the monetary policy pointing to excessively high interest rates. This paper estimates the speed of upward adjustment of loan rates relative to downward adjustment, accounting for dierent market segments and products. The empirical results show that for the investment credit upward adjustment is fast, but downward adjustment essentially does not occur. Consumer credit products demonstrate positive values for the speed of both adjustments although still upward changes occur faster than downwards ones. These ndings suggest that banks may tend to discriminate entrepreneurs …