This study assesses the effectiveness of private and public capital investments in the performance of manufactures within the framework of the duality theory. The response of costs of production and input utilization to changes in the stocks of private and public capital is measured by the...

Evidence is provided on the PPP hypothesis using a sample of 50 Spanish cities for a long time period through the application of panel data unit root tests. Although results suggest non-rejection of the PPP, short-run deviations - as measured by half-lives - indicate that real factors might be...