Traditionally, the Laffer effect has been discussed in context of macroeconomic endogenous growth models or in the situation of labor market whether a tax cut on wages would persuade people to work more and also increase income tax revenues of the government. In this paper, we are firstly...

Purpose An aggregate production function has been used in macroeconomic analysis for a long time, even though it seems that it is conceptually confusing and problematic. The purpose of this paper is to argue that the measurement problem related to the heterogenous capital input that exists in...

Given the increasing importance of entrepreneurship in job creation, innovation and economic growth, we try to inquire into the question of why some of the entrepreneurs and not the others expect a rapid development of their ventures. This study uses the Ordinal Logistic Model (OLM) to analyze...

Purpose The purpose of this paper is to provide an alternative way of calculating the deadweight loss triangle in oligopolistic markets which takes inefficient use of inputs into account. The author shows that the result of the approach coincides with the one that exists in the economics...