Birth order effects are found in empirical work, but lack solid theoretical foundations in economics. Our new modeling approach to children provides this. Each child’s needs change as it grows, and births are sequential. Each child has the same genetic make-up and parents do not favor one...

Walton Hamilton was one of the major promoters of American institutionalism in the interwar period. Apart from his own writing - he introduced the term institutional economics into the literature in a 1918 conference paper - Hamilton was closely associated with the creation of educational...

Empirical evidence suggests that girls work more than boys as child labor. In this paper, we develop a model to analyze the causes and consequences of the gender differentials in child labor. In particular, we analyze the effects of gender bias on child labor. We find that when parents can give...

This paper analyzes the determinants of the rural non-farm employment in the fifteen major states of India by using panel data analysis for the period 1972-2010. The analysis indicates that there are significant gender differences in the factors affecting the level and the growth of rural...

We examine the behaviour of national and provincial inflation in Canada under inflation targeting to determine the extent to which the inflation targeting regime adopted by the Bank of Canada in the 1990s has anchored inflation expectations. Inflation expectations are well anchored when there...

We examine models of flexible inflation forecast targeting. The target criteria from these models restrict the conditionally expected paths of inflation and output targeted by the central bank. We estimate and test these criteria for Canada, an early adopter of inflation targeting. We show that...

A model of reconstruction spending by an occupying force is developed, in which the local population may have different preferences over the allocation of spending than the occupier. When the spending allocation is misaligned with local preferences an insurgency among some members of the...

This paper develops a two-period-two-country model in which an altruistic donor faces Samaritan's Dilemma to address two important policy questions: (i) whether foreign aid can lead to efficient level of capital investment in the recipient country and (ii) how do the form (e.g. budgetary...

There is little evidence in support of the main economic rationale for regulating athletic doping: that doping reduces fan interest. The introduction of random testing for performance-enhancing drugs (PED) by Major League Baseball (MLB) offers unique data to investigate the issue. The...

In this paper, we study the effects of education on the total factor productivity (TFP) of a large number of countries. We estimate TFP using a variant of augmented Solow growth model in which health capital is one of the factors of production. We find that quantity of education significantly...