It is the flow of capital services, instead of the capital stock, along with the flows of other inputs which is related to the flows of outputs in economic theory of cost and production. In applied research, quite often to capture the dynamic phenomena which occurs within a year, there is a need...

In this note we derive expressions for the Morishima elasticity of substitution for a multiple input and outputs profit function. These expressions may have important applications to empirical studies.

Decision makers are facing unprecedented challenges in addressing the likely impacts of climate change on land use. Changes to climate can affect the long-term viability of certain industries in a particular geographical location. Government policies in relation to provision of infrastructure,...

This paper examines the effects of anticipated and unanticipated components of US money supply announcements on exchange rates for each day of the week for eight industrialized countries. The results show that most of the reaction to the anticipated component occurs before the announcement....

This paper seeks to examine the causal relationship between export instability. income terms of trade instability, investment and economic growth by using the cointegration analysis and the multivariate error correction model. In addition, reverse causality is also tested by examining whether...

Different countries use different methods of estimating net capital stock at the aggregated as well as at the disaggregated levels. While analysing cross-country data, for consistency it is important that capital stock series be estimated by the same method across all the countries in the model....

We analyse the disinflationary experience between 1979-93 for two traditionally inflationary countries of the European Monetary System: France and Italy. For each country, a vector autoregressive model is estimated. Shocks in the model combine domestic and foreign sources. The latter capture the...

This article estimates inefficiency and Total Factor Productivity (TFP) across Indonesian provinces from 1993 to 2000. Indonesia is a large emerging market economy, but provinces within the country (due to the island structure of the country) are more distinct from one another compared to other...