There are two major hypotheses regarding the talent distribution among the teams that would maximize the total revenues in a sports league; dominant teams versus parity. This paper examines the revenue structure of National Football League and proposes policy recommendations regarding talent...

This study attempts to infer the length of aggregate time-to-build period by estimating DSGE models with different investment lags and comparing their fits to the data. The models considered in this study use two, four, six, and eight quarters of investment lags. The Bayesian estimation result...

One of the key differences between exogenous and endogenous growth models is that a transitory shock to investment share exhibits different long-run effects on per-capita output. Exploring this difference, the present paper evaluates the empirical relevance of the two growth models for the G-7...

The present paper analyzes the optimal response of real wages to the installed capital stock in a dynamic monopoly union. We use data from five Southern European countries during the period 1970–2010. We explore how this rent-extraction response changes over time and across countries depending...

This paper develops a model that reproduces the essential aspects of the recent ICT-based economy using the framework of endogenous growth theory in which a central role is played by human capital accumulation. In particular, it considers a multi-sectoral growth model in discrete time with...

After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this regime in a relevant developing country contributed to the creation of a better environment for the process of entrepreneurs' expectations formation. Brazil is part of an...

There is a robust literature on the relationship between financing constraints and real investment. Little has been said on the relationship between financing constraints and capital stock in the long run. This note focuses on this last issue. To keep the model tractable, we assume that the firm...

The present study reveals the impact of electricity production on economic growth in Pakistan. It covers the period of 1975–2010, and assumes a log-linear relationship between the variables. The bounds test for cointegration indicates a unique long-run relationship between the variables....