Learning the Wealth of Nations
Learning the Wealth of Nations
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DOI：
10.3982/ecta8299
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发表时间：
2011-01-01
期刊：
影响因子：
6.1
通讯作者：
Primiceri, Giorgio E.
中科院分区：
文献类型：
--
作者：
Buera, Francisco J.;Monge-Naranjo, Alexander;Primiceri, Giorgio E.
我们研究以市场为导向的政策随时间和国家的演变。我们考虑了一个模型，在这个模型中，自己和邻居过去的经历通过对决策者信念的影响来影响政策选择。我们使用一个大的国家面板来估计这个模型，发现它符合战后数据中观察到的大部分政策选择，包括自由政策的缓慢采用。我们的模型还预测，如果当今世界遭受大萧条规模的冲击，政府干预将出现逆转。
We study the evolution of market-oriented policies over time and across countries. We consider a model in which own and neighbors' past experiences influence policy choices through their effect on policymakers' beliefs. We estimate the model using a large panel of countries and find that it fits a large fraction of the policy choices observed in the postwar data, including the slow adoption of liberal policies. Our model also predicts that there would be reversals to state intervention if nowadays the world was hit by a shock of the size of the Great Depression.