Investment decision-making is modeled by means of a Kohonen neural net, where neurons represent firms. This is done in order to model investments in novel fields of economic activity, that according to this model are carried out when firms recognize the emergence of a new technological pattern....

In this paper we develop tests of functional form that are consistent against a class of nonlinear "smooth transition" models of the conditional mean. Our method is an extension of the consistent model specification tests developed by Bierens (1990), de Jong (1996) and Bierens and Ploberger...

The current research emphasis on institutions as key determinants of economic performance, rather than on resources and resource productivity, has uncovered important questions for further research. For example, if institutions are central to economic performance, then what explains observed...

Institutions either promote or constrain economic performance, but which parts of institutions advance or restrict performance, and why do economies sharing similar institutions sometimes perform differently? This paper is a modest attempt at addressing a small part of these questions. It...

This paper investigates several factors that may be important for improving Mâori outcomes, and the extent to which their importance varies by iwi. Specifically, it examines the extent to which controlling for differences in characteristics of the European population and the populations of...

Many studies show that individuals from ethnic minority groups receive low levels of job-related training, raising the question of whether lower expected wage benefits contribute to this lack of training. In this paper, unit record data are used to examine the effect of job- related training on...

This paper introduces a psychological notion of categorization into economics and derives its implications for economic decision making. We show, using a tractable model of social cognition, that a decision maker in (efficiently) assigning past experiences to categories, will sort experiences of...

Emerging evidence shows a strong correlation between institutions and economic growth, and explains the recent research shift from focus on resources and resource productivity to institutions as determinants of economic growth. The positive correlation is read by some as indication that...

The present paper reports a study on the socio-economic determinants of completed fertility in Mexico. Special attention is given to how socio- economic factors such as religion and ethnic group affect the likelihood of transition from low to high order parities. This methodological approach...

This paper reports findings from a study of changes in Mâori income levels and income dispersion between 1997 and 2003. Data from Statistics New Zealand’s Income Survey are used to describe and evaluate the main changes in the Mâori income distribution in this period, which was marked by...