We document the evolution of productivity in a steel mini mill with fixed capital, producing an unchanged product with Leontief technology. Despite almost un- changed production conditions, output doubles within the sample period (12 years). We decompose the gains into: downtime reductions, more...

The increasing complexity and de-localization of finance has allowed for an obfuscation of fees and costs that asset managers charge to asset owners. This obfuscation has, in turn, led to a distortion in the underlying incentives that asset owners set for the capitalist system. In this chapter,...

This paper analyzes the performance of the European railway sector in the period of deregulation (1990-2005). Using a stochastic frontier panel data model that controls for unobserved heterogeneity a multiple-output multipleinput distance function model is estimated in order to evaluate the...