Much of the literature on static efficiency measurement models assumes that the inputs are fully used for producing outputs in the same period, with the result that no time interdependence exists between the input utilization and output realizations for a production unit in consecutive periods....

The book studies growth paths in an overlapping generations model with land and exhaustible resources as factors of production. It is shown that land rules out inefficient growth paths.

In recent contributions, Weizsäcker (2014) and Summers (2014) maintain that mature economies accumulate too much capital. They suggest large and lasting public deficits as a remedy. This paper argues that overaccumulation cannot occur in an economy with land. It presents novel data of aggregate...

This paper suggests that if parental nurturing is a dominating force in human capital formation then income redistribution may not promote economic growth. In particular, if, consistently with empirical evidence, parental human capital complements investment in a child’s education and yields...

Following Ramsey, the existing literature on optimal quantity taxation only compares the pre and the post-tax market equilibriums in order to account for the efficiency losses. However, when the government imposes a quantity tax on the consumer, the buyer's price jumps to the pre-tax equilibrium...

The English and Welsh water and sewerage industry is characterised by indivisible capital which has a long service life. Previous studies of efficiency for the English and Welsh water and sewerage industry take a static framework, assuming all inputs can be adjusted instantaneously. This paper...

The paper addresses the dynamic-incentive effect of environmental policy instruments when innovation is uncertain and occurs in very complex industrial subsystems. The case of end-of-life vehicles (ELVs) is considered focusing predominantly on the effects of the European Directive adopted in...