New results in the asymptotic theory of Markov processes are applied to analysis of the long-run behaviour exhibited by optimal growth models with unbounded productivity shock. The techniques developed here are geometrically intuitive, and are shown to imply global stability for a popular model...

The traditional textbook approach to avoiding the dummy trap problem is to delete a category from each qualitative variable. We illustrate an alternative constraint introduced by Sweeney and Ulveling (1972) which can be used to transform conventional dummy variable coefficients. This constraint...

This paper traces the discovery of the Cobb-Douglas function. There were four antecedents to Cobb and Douglas; von Thunen, Mill, Pareto and Wicksell. The demand functions specified by Mill and Pareto implied the Cobb-Douglas utility function and von Thunen and Wicksell stated the Cobb-Douglas...

This paper discusses the feasibility of bootstrapping DEA scores in the context of the arlier paper by Ferrier and Hirschberg (1997). A simple experiment is devised to demonstrate that in the one-input, one-output case the bootstrap of the non-modified DEA scores is not a failure of the bootstrap.

This paper formalizes the concept of a distributional spike and its sharpness in order to describe more rigorously the 'peakedness' chracteristics of an empirical distribution. The working definition of a spike is a distribution which exhibits a discontinuity in its derivative.

This paper introduces, within a general equilibrium setting, an alternate theory of value that provides a value-based characterization of the most important notions of allocative equilibria even in cases where the (Walrasian) uniform price-based characterizations need not be applicable. The...

The estimation of regression models subject to exact linear restrictions, is a widely applied technique, however, aside from simple examples, the reparameterization method is rarely employed except in the case of polynomial lags. We believe this is due to lack of a general transformation method...

This paper invelves an examination of the labour supply effects of a stylised version of a 'Basic Income Flat Tax' (BI/FT) compared with a Means Tested Graduated Tax System (MT/GT). A highly simplified simulation model id developed in which individuals are homogeneous except for the wage they...

A decade has elapsed since the Taiwanese government first allowed the entry of foreign workers in 1989. A range of problems related to foreign workers have emerged and have become current issues in Taiwan. However, there is a lack of in-depth research into these issues as they relate to Taiwan....