03833oam 22009614 450 991078852490332120230829002201.01-4623-0136-31-4527-5820-41-282-44831-597866138215081-4519-0973-X(CKB)3360000000443188(EBL)3014417(SSID)ssj0000943011(PQKBManifestationID)11492230(PQKBTitleCode)TC0000943011(PQKBWorkID)10974941(PQKB)10265061(OCoLC)698585716(MiAaPQ)EBC3014417(IMF)WPIEE2006260(EXLCZ)99336000000044318820020129d2006 uf 0engur|n|---|||||txtccrPolitical Price Cycles in Regulated Industries : Theory and Evidence /Claudio Paiva, Rodrigo MoitaWashington, D.C. :International Monetary Fund,2006.1 online resource (24 p.)IMF Working Papers"November 2006."1-4518-6520-1 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. BACKGROUND""; ""III. A MODEL OF A POLITICAL PRICE CYCLES IN A REGULATED INDUSTRY""; ""IV. EMPIRICAL EVIDENCE""; ""V. CONCLUDING REMARKS""; ""Appendix 1. List of Countries Included in the Empirical Work""; ""REFERENCES""This paper develops a model of political regulation in which politicians set the regulated price in order to maximize electoral support by signaling to voters a pro-consumer behavior. Political incentives and welfare constraints interact in the model, yielding an equilibrium in which the real price in a regulated industry may fall in periods immediately preceding an election. The paper also provides empirical support for the theoretical model. Using quarterly data from 32 industrial and developing countries over 1978-2004, we find strong statistical and econometric evidence pointing toward the existence of electoral price cycles in gasoline markets.IMF Working Papers; Working Paper ;No. 2006/260PricesGovernment policyPrice regulationInvestments: EnergyimfInflationimfMacroeconomicsimfEnergy: Demand and SupplyimfPricesimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfPrice LevelimfDeflationimfEnergy: GeneralimfEconomic growthimfInvestment & securitiesimfFuel pricesimfOil pricesimfBusiness cyclesimfGasolineimfGas industryimfUnited StatesimfPricesGovernment policy.Price regulation.Investments: EnergyInflationMacroeconomicsEnergy: Demand and SupplyPricesPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Price LevelDeflationEnergy: GeneralEconomic growthInvestment & securitiesFuel pricesOil pricesBusiness cyclesGasolineGas industryPaiva Claudio1462128Moita Rodrigo1462129DcWaIMFBOOK9910788524903321Political Price Cycles in Regulated Industries3670970UNINA