This article examines the effects of technology on productivity growth by disaggregating total output into sectoral components, exploring the roles of investment and technology on productivity growth for countries in different income groups. It finds that for low-income countries, investment is...

The US banking system has just emerged from a troublesome period with many institutions struggling for survival. We examine large commercial banks during the latter part of the 1980s to determine what factors affected bank profitability, using both cross-section and pooled time-series...

This article revisits the weak relationship between exchange rate depreciation and exports for Singapore, using a bivariate generalized autoregressive conditional heteroscedasticity in mean model that simultaneously estimates time-varying risk. The evidence shows that depreciation does not...

Proponents of energy service companies (<italic>ESCO</italic>s) argue that these firms provide a crucial instrument for delivering improved energy efficiency in public and private sectors, thus contributing to carbon dioxide (CO₂) emission reduction around the world. Do <italic>ESCO</italic>s reduce CO₂ emissions? To answer this...

This article considers the structural stability of the relationship between the real housing price and real GDP per capita for an annual sample that includes the Great Depression. We test for structural change in parameter values using a sample of annual US data from 1890 to 1952. The article...