This paper looks at the economic impact of secession through the lens of the disintegration of the former Yugoslavia. It uses an econometric analysis covering the period between 1956 and 2011 – including a series of factors linked to the independence process, socioeconomic and structural...

This paper examines whether, given the increasing salience of subnational governments, political decentralisation has an impact on overall economic performance. It uses panel data analyses in order to determine the association between a number of the different indices of political...

This Paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

This paper models technology adoption as replacing workers by machines, which perform the same job in the production process. The paper shows that such modelling of technology adoption affects significantly the analysis of economic growth. This model can explain large and persistent...

This paper argues that economic structure is a robust determinant of the OECD business cycle. Countries that share similar manufacturing sectors are shown to display more synchronized business cycles. Interestingly, the well-established rule of trade impacting on rich countries' business cycles...

Both Western and Soviet estimates of GNP growth in the USSR indicate that GNP per capita grew in every decade - sometimes rapidly - from 1928 to 1985. While this measure suggests that the standard of living improved in the USSR throughout this period, it is unclear whether this economic growth...

Using data on the production and usage of cotton, the paper develops estimates for the production and consumption of cotton cloth in India during 1795-1940, and based on these numbers, revisits three issues central to interpretations of economic change in colonial India. These are: (a) trends in...

This paper is based on the idea that the effort exerted by children, parents and schools affects the outcome of the education process. We test this idea using the National Child Development Study. Our theoretical model suggests that the effort exerted by the three groups of agents is...