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Bargaining Over Governments in a Stochastic Environment

Author

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  • Merlo, A.

Abstract

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.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Merlo, A., 1992. "Bargaining Over Governments in a Stochastic Environment," Working Papers 92-55, C.V. Starr Center for Applied Economics, New York University.
  • Handle: RePEc:cvs:starer:92-55
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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Kennan, John, 1995. "Repeated contract negotiations with private information," Japan and the World Economy, Elsevier, vol. 7(4), pages 447-472, November.
    3. 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.
    4. N/A, 1987. "Calendar of Main Economic Events, 1986," National Institute Economic Review, National Institute of Economic and Social Research, vol. 119(1), pages 79-93, February.
    5. N/A, 1987. "Chapter I. The Home Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 119(1), pages 6-23, February.
    6. Zvi Eckstein & Kenneth I. Wolpin, 1995. "Duration to First Job and the Return to Schooling: Estimates from a Search-Matching Model," Review of Economic Studies, Oxford University Press, vol. 62(2), pages 263-286.
    7. Austen-Smith, David & Banks, Jeffrey, 1988. "Elections, Coalitions, and Legislative Outcomes," American Political Science Review, Cambridge University Press, vol. 82(02), pages 405-422, June.
    8. 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.
    9. 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.
    10. -, 1987. "Planning for a fresh social and economic dynamic," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    11. Flinn, C. & Heckman, J., 1982. "New methods for analyzing structural models of labor force dynamics," Journal of Econometrics, Elsevier, vol. 18(1), pages 115-168, January.
    12. repec:cup:apsrev:v:79:y:1985:i:03:p:738-754_22 is not listed on IDEAS
    13. N/A, 1987. "Chapter I. The Home Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 120(1), pages 6-20, May.
    14. Lippman, Steven A. & McCall, John J., 1976. "Job search in a dynamic economy," Journal of Economic Theory, Elsevier, vol. 12(3), pages 365-390, June.
    15. repec:cup:apsrev:v:84:y:1990:i:03:p:873-890_19 is not listed on IDEAS
    16. Kennan, John & Wilson, Robert, 1993. "Bargaining with Private Information," Journal of Economic Literature, American Economic Association, vol. 31(1), pages 45-104, March.
    17. 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.
    18. anonymous, 1987. "Review of domestic and external economy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 50, march.
    19. repec:cup:apsrev:v:83:y:1989:i:04:p:1181-1206_08 is not listed on IDEAS
    20. repec:cup:apsrev:v:87:y:1993:i:01:p:34-47_09 is not listed on IDEAS
    21. Cramton, Peter C & Tracy, Joseph S, 1992. "Strikes and Holdouts in Wage Bargaining: Theory and Data," American Economic Review, American Economic Association, vol. 82(1), pages 100-121, March.
    22. repec:cup:apsrev:v:85:y:1991:i:01:p:137-164_17 is not listed on IDEAS
    23. repec:cup:apsrev:v:86:y:1992:i:04:p:875-887_09 is not listed on IDEAS
    24. 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.
    25. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
    26. N/A, 1987. "Chapter I. the Home Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 122(1), pages 7-23, November.
    27. repec:cup:apsrev:v:84:y:1990:i:03:p:891-906_19 is not listed on IDEAS
    28. -, 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).
    29. N/A, 1987. "Chaptefi III. the British Economy Since 1979," National Institute Economic Review, National Institute of Economic and Social Research, vol. 122(1), pages 41-46, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    environment ; economic models ; evaluation;

    JEL classification:

    • C41 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Duration Analysis; Optimal Timing Strategies
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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