The paper studies the historical process of fiscal state-building in 19th and early 20th century Greece. A new public finances dataset, compiled from primary sources, is combined with international databases in a graphical network analysis revealing a rich set of dynamic interactions between economic (tax revenue, debt payments and GDP per capita) and institutional variables (army and representation). The emphasis is on two particular results closely related to the fiscal capacity literature: (a) the size of the army had a positive causal effect on tax revenues whereas (b) representation had a negative causal effect on tax revenue.
Compositional data arise in many real-life applications and versatile methods for properly analyzing this type of data in the regression context are needed. When parametric assumptions do not hold or are difficult to verify, non-parametric regression models can provide a convenient alternative method for prediction. To this end, we consider an extension to the classical k-NN regression, termed a-k-NN regression, that yields a highly flexible non-parametric regression model for compositional data through the use of the a-transformation.
Two new distributions are proposed: the circular projected and the spherical projected Cauchy distributions. A special case of the circular projected Cauchy coincides with the wrapped Cauchy distribution, and for this, a generalization is suggested that offers better fit via the inclusion of an extra parameter. For the spherical case, by imposing two conditions on the scatter matrix we end up with an elliptically symmetric distribution.
In this paper, we propose a modified formulation of the principal components analysis, based on the use of a multivariate Cauchy likelihood instead of the Gaussian likelihood, which has the effect of robustifying the principal components. We present an algorithm to compute these robustified principal components. We additionally derive the relevant influence function of the first component and examine its theoretical properties.
We examine the effects of (passive) cross-holdings in the downstream market on the sustainability of upstream collusion. We consider two competing vertical chains with downstream Cournot and homogeneous goods. Each downstream firm holds a (symmetric) non-controlling share of its rival.
We analyze a novel tax mechanism in imperfectly competitive markets. The government announces an excise tax rate and auctions-off a number of tax exemptions. Namely, it invites the firms in a market to acquire the right to be exempted from the excise tax. The highest bidders are exempted by paying their bids; and all other firms remain subject to it.
In this paper, we employ a meta-regression analysis approach to synthesize empirical evidence on the average partial effects of eleven adoption determinants that regularly appear in empirical studies examining farmer's adoption behavior worldwide. Our analysis considers a total of 122 studies from the adoption literature using discrete choice models that are published in 24 peer-reviewed journals since 1985, covering farmer's adoption behavior around the world and for a wide variety of agricultural technologies.
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