Showing 1 - 10 of 46
This paper investigates the relationship between output volatility and growth using post-war real GDP data for the United States. We expand on recent research by Beaudry and Koop (1993) documenting the asymmetric effect of recessions on output growth. The results presented in this paper suggest...
Persistent link: https://www.econbiz.de/10005587807
This paper examines the manner in which labour services are modelled in the aggregate production function …
Persistent link: https://www.econbiz.de/10005458646
This paper analyses the policy implications of licensing between producers of differentiated goods. We consider and compare two-part tariff, fixed fee, royalty and collusive licensing contracts. Under the optimal licensing policy, there will be no technology transfers if the innovation size is...
Persistent link: https://www.econbiz.de/10005458639
Time of day (TOD) rates are a commonly used method for peak load pricing of many services. Such services as ; electricity, communications, transportation, shared computer facilities, and computer networks (ie. the Internet), either use, or will use form of TOD pricing. The model presented here...
Persistent link: https://www.econbiz.de/10005574842
affects the allocation of production costs, but a random productivity shock ensures that the allocation is not necessarily …
Persistent link: https://www.econbiz.de/10008622310
function and von Thunen and Wicksell stated the Cobb-Douglas production function explicitly. This paper comments on why this … function has played a seminal role in production and utility theory and why it has been discovered independently by several …
Persistent link: https://www.econbiz.de/10005587741
This paper considers cost and profit efficiency for Australian banks between 1995 and 2002. Data Envelopment Analysis (DEA) is used to construct an efficient frontier for ten banks listed on the Australian Stock Exchange. Empirical results indicate the major banks have improved their cost and...
Persistent link: https://www.econbiz.de/10005392566
Carroll, Fuhrer and Wilcox (1994) studied the capacity of consumer sentiment to help explain the behaviour of consumption in the US. Their study was important for at least two reasons. Firstly, since household consumption accounts for about 80% of US GDP fluctuations in consumption may result in...
Persistent link: https://www.econbiz.de/10005231951
Since Brown (1952), standard habit formation models of consumption have exclusively focused on non-durables and services expenditure, and have assumed that the depreciation of the habit stock is a linear, univariate process. This paper builds on Ermini (1997) to dispense with these two...
Persistent link: https://www.econbiz.de/10005750840
models with stochastic production. The condition can be seen as a generalization of existing equilibrium conditions for this …
Persistent link: https://www.econbiz.de/10005578929