I study the allocation of human capital in an economy with production externalities, financial constraints and career choices. Agents choose to become entrepreneurs, workers or financiers. Entrepreneurship has positive externalities, but innovators face borrowing constraints and require the...

Tax systems in developing countries, like those in more developed countries, face both new challenges and new possibilities as a result of technological change. In developing countries, taxpayers and tax administrations must cope with more difficult environments with fewer resources. Some issues...

We apply a stochastic frontier production model to data from 53 countries during 1991-2003 to estimate total factor productivity growth, and decompose it into technical efficiency change and technical progress. Our empirical results indicate that world productivity growth was led by fast-growing...

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...

We review some patterns of Total Factor Productivity (TFP) growth in the Mexican economy during the period 1991-2011 using the KLEMS data set published by INEGI in 2013. The data shows a strong positive correlation between TFP and output growth. As a result, tests were performed in order to...

This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...