Progress in Economics Research

In this next volume of Progress in Economics Research, chapters include research on the impact of fiscal consolidation in developing countries on the real economy and propose an analysis of the austerity programs implemented in the Central and Eastern European and Baltic countries; transport infrastructure and how it influences the location of manufacturing firms allowing access to markets (local and international); the prospects and limitations of the intertemporal approach to global external imbalances; asset allocation strategies for members of defined-contribution pension plans with exponential utility with three types of assets; an analysis on positive versus negative reciprocity, considered part of behavioral economics; and insight into the Italian health care financing scenario. Specifically, the authors analyze regional political fragmentation and competition for effective political power between majority and opposition coalitions and test if the fragmentation of both coalitions are key variables that determine their effective political power.