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Reforms often occur in waves, seemingly cascading from country to country. We argue that such reform waves may be … driven by informational spillovers: uncertainty about the outcome of reform is reduced by learning from the experience of …
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This paper argues that the conventional definition of the elasticity of complementarity is not well suited to deal with the case of increasing returns. It proposes a slightly different formula, that uses a distance function formulation instead of a production function. The proposed definition...
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importance of monotonicity conditions in efficiency analysis, we demonstrate how to impose monotonicity on ray-based input …
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