What is a fiscal consequence of legislative term limits? We develop a legislative bargaining model that predicts a u-shaped relationship between the level of seniority within a legislature and government spending. The size of government spending decreases as the level of seniority increases from low tomoderate, while it increases as the level of seniority increases from moderate to high. The mo...

Most empirical studies of individual migration choice analyse factors associated with out-migration from an origin location. In contrast, we model the migration decision within the context of potential destinations, combining British panel data over the period 1992–2007 with other data sources. Contrary to earlier micro studies we show that differences in house prices levels (but not growth) ar...

We present evidence on the duration of firm-bank relationships using a unique panel data set of connections between Oslo Stock Exchange-listed firms and their banks for the period 1979-1994. We focus on the determinants of the duration of a relationship and the causes for ending an existing bank relationship. We find that duration itself does not greatly influence the likelihood of ending a rel...

In the era of globalisation and with the advent of knowledge economies, organisational innovation has assumed a critical role in enhancing economic performance of ̄rms. Proponents of the Resource Based View of the ̄rm and its more recent extensions such as the Knowledge Based View and Dynamic Capabilities Theory have suggested that generation, di®usion and application of organisational knowledg...

Empirical evidence is provided for the importance of pro-social behavior of individuals in an anonymous, n-person public good setting. A unique panel data set of 136,000 observations is matched with an extensive survey. Even under anonymous conditions, a large number of individuals are prepared to donate quite a significant sum of money. Cooperation conditional on giving by specific other perso...

A strategy to convert quotas to tariffs is to auction the quota rights and use the realized auction prices as guides to setting tariffs. In the 1980s, New Zealand employed auctions to allocate quota licenses. We analyze the relationship between tariff-equivalents and auction prices for auctions with resale. Using panel data from New Zealand’s quota license auctions, we estimate the expected val...

We examine the impact of a large number of Japanese government-sponsored research consortia on the research productivity of participating firms by measuring their patenting in the targeted technologies before, during, and after participation. Consistent with the predictions of the theoretical literature on research consortia, we find consortium outcomes are positively associated with the level ...

The paper contributes to the measurement of poverty and vulnerability in three ways. First, we propose a new approach to separating poverty into chronic and transient components. Second, we provide corrections for the statistical biases introduced when using a small number of periods to estimate the importance of vulnerability and transient poverty. Third, we apply these tools to the measuremen...

In this paper, we present an alternative root-n consistent estimator for panel data fixed-effects binary choice models. The proposed estimator relaxes one of the key conditions that are required for the consistency of the estimator proposed in Honoré and Lewbel (2002), and is shown to be consistent and asymptotically normally distributed under some sufficient conditions. An easy to compute cons...