Privatization, technology choice and aggregate outcomes
Article Abstract:
Multiple macroeconomic equilibria emerge in transition economies due to strategic complementarities in the restructuring non-public firms. Based on the privatization method chosen and in how property rights are distributed, restructuring and macroeconomic results differ. "Bad" equilibria without restructuring may result from firm sales to investors, if employees have profit claims. This is true even under wage-equity swaps. Despite myths, "good" aggregate results may be caused by mass privatization.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Nominal bargaining power, selection protocol, and discounting in legislative bargaining
Article Abstract:
A study, comparing static predictions in legislative bargaining by Baron and Ferjohn and Gamson's Law, is presented. Regression used, is in support of Gamson's Law, but is determined by the selection protocol, which recognizes voting blocks in proportion to the number of votes controlled. Discounting pushes behavior in the direction predicted by Baron and Ferejohn, but has little effect.
Publication Name: The Journal of Public Economics
Subject: Government
ISSN: 0047-2727
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Education, social security, and growth. Aging population and education finance. Education, redistributive taxation and confidence
- Abstracts: The impact of school choice on student outcomes: an analysis of the Chicago public schools. The impact of fiscal incentives on student disability rates
- Abstracts: Neighborhood characteristics and the targeting of tax increment financing in Chicago. The effects of tax increment financing on economic development
- Abstracts: Essential facility financing and market structure. Irreversible abatement investment under cost uncertainties: tradable emission permits and emissions charges