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Bargaining over Governments in a Stochastic Environment

  • Merlo, Antonio

In this paper, the author structurally estimates a stochastic bargaining model of government formation in a multiparty parliamentary democracy and he conducts policy experiments to evaluate the effects of changes in the bargaining procedure. The author shows that the model fits data on the duration of negotiations and government durations in postwar Italy well. Also, he shows that changes in the proposer selection process would not affect either the duration of negotiations or government durations, whereas the imposition of a strict deadline would in general reduce the incentives to delay agreement as well as government durations. Copyright 1997 by the University of Chicago.

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File URL: http://dx.doi.org/10.1086/262067
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Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 105 (1997)
Issue (Month): 1 (February)
Pages: 101-31

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Handle: RePEc:ucp:jpolec:v:105:y:1997:i:1:p:101-31
Contact details of provider: Web page: http://www.journals.uchicago.edu/JPE/

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  17. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
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  26. Merlo, Antonio, 1991. "An Econometric Analysis of Government Tenure Histories: The Italian Case," Working Papers 91-28, C.V. Starr Center for Applied Economics, New York University.
  27. Austen-Smith, David & Banks, Jeffrey., 1987. "Elections, Coalitions, and Legislative Outcomes," Working Papers 643, California Institute of Technology, Division of the Humanities and Social Sciences.
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  29. Kennan, John & Wilson, Robert, 1989. "Strategic Bargaining Models and Interpretation of Strike Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 4(S), pages S87-130, Supplemen.
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  32. -, 1995. "International economic highlights 1994," Oficina de la CEPAL en Washington (Estudios e Investigaciones) 28948, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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