Economic dynamics and government stability in postwar Italy
Article Abstract:
The role of political and economic factors in the stability of a government was investigated. A duration model was presented to determine the probability of downfall of an Italian government. Empirical evidence indicates that political and economic factors can result in the collapse of a government, with inflation rate and labor strikes wielding the greatest influence. Specifically, there is a greater likelihood for a government to collapse when the inflation rate and the number of labor hours lost in strikes are higher.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Individual income, incomplete information, and aggregate consumption
Article Abstract:
Aggregate information is not valid for making decisions on individual consumption since individual income tends to be more variable than aggregate per capita income. Models of consumption are examined where individuals optimize on their own income activities, although they have insufficient economic information. Consumers react minimally to changes in aggregate income, thus aggregate consumption is very smooth. Empirical presentations on individual and aggregate income processes are shown.
Publication Name: Econometrica
Subject: Mathematics
ISSN: 0012-9682
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Testing for liquidity constraints in Euler equations with complementary data sources
Article Abstract:
Tests were conducted to analyze liquidity constraints in Euler equations using credit status' direct indicators. The tests, which utilize the 1983 Survey of Consumer Finances, include an initial stage in which probabilities being constrained are estimated to come up with switching regression models estimates. Estimates of tests suggest robust excess sensitivity that is possibly linked with liquidity constraints.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Spatial dynamics and heterogeneity in the cyclicality of real wages. The distributional shape of unemployment duration: a reconsideration
- Abstracts: Economic factors and the stock market: a new perspective. Forecasting volatility in commodity markets. Assessing inefficiency in the S&P 500 futures market
- Abstracts: Do economics departments with lower tenure probabilities pay higher faculty salaries? Environmental regulation and innovation: a panel data study