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Bargaining over Governments in a Stochastic Environment

Listed author(s):
  • 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: 101-131

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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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  18. Peter Cramton & Joseph S. Tracy, 1992. "Strikes and Holdouts in Wage Bargaining: Theory and Data," Papers of Peter Cramton 92aer, University of Maryland, Department of Economics - Peter Cramton, revised 09 Jun 1998.
  19. 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 87-130, Supplemen.
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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. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-399, March.
  28. N/A, 1987. "Chapter I. the Home Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 121(1), pages 6-20, August.
  29. -, 1987. "Evolución de la economía brasileña," Informe Estadístico – Oficina de la CEPAL en Brasilia 27977, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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  33. Antonio Merlo & Charles Wilson, 1997. "Efficient delays in a stochastic model of bargaining," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 39-55.
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