The Frailty of Economic Reforms: Political Logic and Constitutional Lessons

Why are efficiency-enhancing reforms often frail and subject to being undermined over time? Two theories are examined: public-choice theory, which explains this as the possible result of a need, from time to time, to wipe the slate clean in order to retain productivity in the distribution of favors to interest groups, and a theory which acknowledges that politicians may implement reforms for ideological reasons but still, as time passes, be influenced by the logic of the political and media systems to abandon their initial aspirations. In any case, the demise of reforms is partly a function of the constitutional setting: rules which encourage shortsightedness and easy satisfaction of interest-group agendas make it difficult for decision-makers to withstand pressure for legislative change. Avenues to mitigate these problems through constitutional reforms are explored.tax reform; political incentives; constitutional reform

Spin Inelastic Electron Tunneling Spectroscopy on Local Magnetic Moment Embedded in Josephson Junction

Recent experimental conductance measurements performed on paramagnetic molecular adsorbates on a superconducting surface, using superconducting scanning tunneling microscopy techniques, are theoretically investigated. For low temperatures, we demonstrate that tunneling current assisted excitations of the local magnetic moment cannot occur for voltage biases smaller than the superconducting gap of the scanning tunneling microscope. The magnetic moment is only excited for voltages corresponding to the sum of the superconducting gap and the spin excitation energies. In excellent agreement with experiment, we show that pumping into higher excitations give additional current signatures by accumulation of density in the lower ones. Using external magnetic fields, we Zeeman split possible degeneracy and thereby resolve all excitations comprised in the magnetic moment.Comment: 6 pages, 4 figures, submitte

Electron Paramagnetic Resonance of Single Magnetic Moment on a Surface

We address electron spin resonance of single magnetic moments in a tunnel junction using time-dependent electric fields and spin-polarized current. We show that the tunneling current directly depends on the local magnetic moment and that the frequency of the external electric field mixes with the characteristic Larmor frequency of the local spin. The importance of the spin-polarized current induced anisotropy fields acting on the local spin moment is, moreover, demonstrated. Our proposed model thus explains the absence of an electron spin resonance for a half integer spin, in contrast with the strong signal observed for an integer spin.Comment: 6 pages, 2 figures, as publishe

Journal Staff

This paper addresses the issue of R&D internationalisation of two multinationals in the electro-technical industry (GE and ABB), by means of a patent data analysis. The overwhelming majority of both companies R&D activities are concentrated in Western Europé and North America. The locational overlap between the two firms' activities is small. These results are consistent with findings from earlier studies that (1) there is little evidence to suggest that the 'production' of technology is globalised in a general sense and (2)that tapping knowledge from an industry's global lead location plays a very limited role in foreign R&D investments.Original Publication:Anna Bergek and Christian Berggren, Technological Internationalisation in the Electro-Technical Industry: A Cross-company comparison of patenting patterns 1986-2000, 2005, Research Policy, (33), 9, 1285-1306.http://dx.doi.org/10.1016/j.respol.2004.09.004Copyright: Elsevier Science B.V., Amsterdam.http://www.elsevier.com

Does free trade really reduce growth? Further testing using the economic freedom index

While studies of the relationship between economic freedom and economic growth have shown it to be positive, significant and robust, it has rightly been argued that different areas of economic freedom may have quite different effects on growth. Along that line, Carlsson and Lundström (2002) present the surprising result that “International exchange: Freedom to trade with foreigners” is detrimental for growth. We find that “Taxes on international trade” seems to drive this result. However, using newer data and a more extensive sensitivity analysis, we find that it is not robust. Least Trimmed Squares-based estimation in fact renders the coefficient positive.free trade; economic freedom; economic growth