We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...

A new urban revolution begun in the second half of the XX century and it is going to challenge the relation between the size and economic role of cities: on one side, the last decades have witnessed the emergence and the never seen growth of a number of Mega-cities, with more than 9 million...

We use US county level data (3,058 observations) from 1970 to 1998 to explore the relationship between economic growth and the extent of government employment at three levels: federal, state and local. We find that increases in federal, state and local government employments are all negatively...

This paper aims at economic analysis of economic globalization and urban growth of Bangalore, the Silicon Valley of India, as they are related to ICT sector. Overall analyses offer new insights and evidences for ICT sector as a major contributor for degree of economic globalization and urban...

The goal of this paper is to evaluate the results of regional economic growth estimates at multiple spatial scales using spatial panel data models. The spatial scales examined are minimum comparable areas, micro-regions, meso-regions and states over the period between 1970 and 2000. Alternative...

We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity. E.g., the California estimate is 19.9 percent and the New York estimate is 3.3 percent. Convergence rates are essentially uncorrelated with income levels. -- Economic Growth ;...

Many cross-country studies acknowledge the indispensable role of institutions in promoting economic growth and in sustaining economic development. So, their emphases have shifted to determine the most influential institution(s) in order to be specific. While these papers are widespread in the...

The ability to adjust to structural change is vital to economic development, and entries can be active participants in this process. This paper aims to shed some light on the relation between entrepreneurship and growth by arguing that entrepreneurial activity relates to growth via reallocation...

A new urban revolution begun in the second half of the XX century and it is going to challenge the relation between the size and economic role of cities: on one side, the last decades have witnessed the emergence and the never seen growth of a number of Mega-cities, with more than 9 million...

A major objective of this study is to analyse the evolutionary patterns of regional linkages and disparities across the EU space, especially those related to rural and peripheral/remote regions. In particular, this report assesses the economy-wide effects, in terms of GDP and employment,...