Rapid urbanisation and economic growth will increase the demand for adequate housing in Indian cities. Mass housing projects can help cater to this need. However, building mass housing using conventional technology is slow, lacks quality and is detrimental for the environment. In contrast, more...

When procurement contracts are incomplete, they are frequently changed after the contract is awarded to the lowest bidder. This results in a final cost that differs from the initial price, and may involve significant transaction costs due to renegotiation. We propose a stylized model of bidding...

This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to home-owner,to investigate the secular decline in home ownership over the past several decades,wholly attributable to households postponing the purchase of their first...

To analyze the impact of changes in the value of marriage on household decisions, we present a limited commitment framework of household behavior in which decisions are made regarding labor supply, divorce and housing demand over the lifecycle. We identify and estimate our structural model using...

Housing, particularly for low income urban households, is a long-standing challenge in India. In 2012, 96 per cent of the all India urban housing shortage of 18.78 million was confined to low-income economic groups. This study empirically examines three facets of urban India's housing demand...

The British Industrial Revolution triggered a reversal in the social order whereby the landed elite was replaced by industrial capitalists rising from the middle classesas the economically dominant group. Many observers have linked this transformation to the contrast in values between a...

In this paper we study the problem of exhaustible resources and renewable resources in a theoretical endogenous growth framework, under various assumptions. In particular, we consider the hypotheses that those two inputs are or are not technologically perfect substitutes of each other. Moreover,...

International trade in capital goods has quantitatively important effects on economic development through capital formation and TFP. Capital goods trade enables poor countries to access more efficient technologies, leading to lower relative prices of capital goods and higher capital-output...

With rapid industrial upgrading along the global value chain of manufactured goods, China has transformed, within one generation, from an impoverished agrarian society to a middle-income nation as well as the largest manufacturing powerhouse in the world. This article identifies the pattern of...