Our findings suggest that the nature and composition of skills exert a major influence on the entry mode for direct investment. Relatively more organizational skill favors takeover, while relatively more technological skill favors greenfield operations. The time variable exerted a positive...

The economic performance of the EU has taken on a new dimension with the notion of a "new economy". While ICT has become a major factor in explaining the prolonged, non-inflationary boom in the United States, the EU is lagging behind in most aspects of ICT. Arguing that the impact of ICT is...

Attention is called to a little explored scarce resource, termed 'economic competence', which combines features of human capital and bounded rationality, and causes a singularity in resource-allocation in society. The performance of each economy is shown to strongly depend on how this resource...

In a recent paper, García-Mainar and Montuenga-Gómez (2005) apply the generalized IV model of Hausman and Taylor to estimate education returns of wage earners and the self-employed in Portugal and in Spain. Our examination reveals several problems which relate to the validity and documentation...

Results from empirical studies of firm behavior are synthesized into, a theory of the firm as a competent team. I demonstrate the existence of a tacit organizational competence exercising a leverage on the productivities of all other factors through selecting and allocating competent people,...

We use administrative data on Swedish lottery players to estimate the causal impact of wealth on players' own health and their children's health and developmental outcomes. Our estimation sample is large, virtually free of attrition, and allows us to control for the factors such as the number of...

No abstract.

Historically, the American armed forces were disproportionally drawn from lower socioeconomic backgrounds. A transition toward a smaller and more selective military has changed this tendency. Since the armed forces do not gather data on recruits’ family income, previous studies relied on...