distinguish between productivity gains arising from lower tariffs on final goods relative to those on intermediate inputs. Lower … output tariffs can produce productivity gains by inducing tougher import competition whereas cheaper imported inputs can … tariffs. A 10 percentage point fall in output tariffs increases productivity by about 1%, whereas an equivalent fall in input …

Stochastic frontier production functions are estimated for Bulgarian (1993–5) and Romanian (1994–5) manufacturing … industries using firm-level panel data. The technical efficiency of firms is found to vary significantly both within and across … industrial sectors in each country. We find strong evidence of a positive relationship between firm technical efficiency levels …

distribution into three main components: efficiency, amenities, and frictions. Higher efficiency and better amenities lead to … MSAs in the United States, we parametrize the model and empirically estimate efficiency, amenities and frictions …

an attempt to manipulate security prices to their benefit. This leads to incomplete risk-sharing, despite the existence … of complete markets and the absence of aggregate risk. When a fiscal union centralizes fiscal policy, security prices can …