Since Brown (1952), habit formation models of consumption have assumed that utility is additively separable in durables and non-durables, and memory loss is a unidimensional process. This thesis dispenses with these assumptions to extend the theory of habit formation and introduce habit...

The disappointing economic performance of Sub-Saharan African (SSA) economies in the late 1980s prompted economic-wide policy reforms in the early 1990s. The primary objectives of these institutional and structural changes were to promote trade and export activities, enhance foreign direct...

This paper develops a new latent index of human capital identified as valuable skills for seventy countries for the period 1970-2003. The index is compared to existing measures of human capital in assessing the Benhabib and Spiegel (2005) model of logistic technology diffusion. The study...

We utilise a new household survey to examine the impact of education and job training on labour income for migrant workers in China. Quantile regression is employed to account for selection bias. The evidence has as follows: (a) the returns to education and work experience are considerable but...

We examine the idea that excess managerial compensation acts as a reference wage in a fair wage-effort model of efficiency wages. We utilise the Australian Business Longitudinal Survey (1995-98) and the BHPS (1990-2002) to estimate the impact of excess managerial pay on labour productivity and...

This paper investigates the link between intended use of proceeds and the decline in post-issue operating performance of IPO firms. After taking into account special features of the compositional data containing zero values, a quantile regression analysis is employed for the Indonesian equity...

This paper tests for a carbon Kuznets curve (CKC) by examining the carbon emissions per capita-GDP per capita relationship individually, for 23 OECD countries over 1950-2010 using a reduced-form, linear model that allows for multiple endogenously determined breaks. This approach addresses...