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For constitutional conservatives, the challenge is exactly what it would have been had Clinton won: to strengthen the rule of law by restoring institutional equilibrium.
I conclude with some speculation about Sub-Saharan Africa: though the most likely scenario is that the current shock is not large enough to change the institutional equilibrium in developing countries, if it were, there are circumstances which are consistent with the optimistic scenario.
It also requires analysis of the interactions between actors and their impact on institutional settings: " The emphasis is on identifying the reasons for the shift from an institutional equilibrium at one point in time to a different institutional equilibrium at a different point in time" ([ 54], p. 11).
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We derive the equilibrium institutional design of representative democracy by citizens who first vote on the supermajority required for a new policy to be adopted, and then delegate decision making to a legislature that selects policy given that institutional constraint.
For many years, the activities associated with transferring research into practice have been guided by assumptions of linear process and institutional responsibility, relative stability in boundary conditions, equilibrium dynamics, and scientific expertise as the source of innovation.
This generates an equilibrium that explains both structural and institutional rigidities.
Topics addressed include institutional innovation, social preferences, nonmarket social interactions, social capital, equilibrium unemployment, credit constraints, economic power, generalized increasing returns, disequilibrium outcomes, and path dependency.
We study alternative institutional arrangements for the determination of monetary policy in a general equilibrium model with heterogeneous agents, where monetary policy has redistributive effects.
Another avenue for future improvement involves general equilibrium considerations: our partial equilibrium analysis detaches itself from the impact of institutional changes on prices and labor demand.
The judge held that the House could claim an injury because it's "an institutional plaintiff" that sued "to preserve its power of the purse and to maintain constitutional equilibrium between the Executive and the Legislature".
This paper investigates the use of computable general equilibrium (CGE) models for measuring the impacts of policy interference on policy-relevant economic, environmental, and social (institutional) indicators.
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