04052oam 22010574 450 991097050010332120250426110906.097866138215089781462301362146230136397814527582061452758204978128244831512824483159781451909739145190973X(CKB)3360000000443188(EBL)3014417(SSID)ssj0000943011(PQKBManifestationID)11492230(PQKBTitleCode)TC0000943011(PQKBWorkID)10974941(PQKB)10265061(OCoLC)698585716(IMF)WPIEE2006260(MiAaPQ)EBC3014417(IMF)WPIEA2006260WPIEA2006260(EXLCZ)99336000000044318820020129d2006 uf 0engur|n|---|||||txtccrPolitical Price Cycles in Regulated Industries : Theory and Evidence /Claudio Paiva, Rodrigo Moita1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (24 p.)IMF Working Papers"November 2006."9781451865202 1451865201 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 regulationBusiness cyclesimfDeflationimfEconomic growthimfEnergy: Demand and SupplyimfEnergy: GeneralimfFuel pricesimfGas industryimfGasolineimfInflationimfInvestment & securitiesimfInvestments: EnergyimfMacroeconomicsimfOil pricesimfPrice LevelimfPricesimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfUnited StatesimfPricesGovernment policy.Price regulation.Business cyclesDeflationEconomic growthEnergy: Demand and SupplyEnergy: GeneralFuel pricesGas industryGasolineInflationInvestment & securitiesInvestments: EnergyMacroeconomicsOil pricesPrice LevelPricesPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Paiva Claudio1816356Moita Rodrigo1816357DcWaIMFBOOK9910970500103321Political Price Cycles in Regulated Industries4372386UNINA