This paper continues the development of a theoretical foundation for measuring 'altruistic' behaviour with respect to tax versus expenditure preferences in three specific spheres: health, education and welfare payments. Particular emphasis is placed on analysing the choice theoretic calculus...

The article analyses conditional <italic>β</italic>-convergence among the low income countries using a panel data framework covering the period 1960 to 2008. The estimation of conditional income convergence is based on the augmented Solow model with system GMM technique for the dynamic panel data. More...

This paper constructs a simple supply orientated model of the economy in which company bankruptcies which lead to a loss of capital and births have impacts on macroeconomic variables. Bankruptcies will reduce output, increase unemployment, worsen the balance of payments and also impact upon...