Many empirical studies show the paradoxical fact that service output in proportion to industrial output does not tend to decline, in spite of rising service prices. Baumol's "cost disease" model well explains rising service prices, but it simply assumes that the output proportion remains...

Purpose - India started economic reforms at a rapid pace to catch up the world economy by following the services-led-growth model during the post-liberalisation period. Over the years, the growing unemployment rate posits a re-look into the dynamics of growth model for wider work force...

Åland Islands, a small Finnish island region with its own governmental powers, is rapidly aging together with its neighboring regions in mainland Finland and Sweden. The demographic momentum affects its labor market in various ways. Aging will keep exits from labor market high in the near...

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...

The paper contributes by providing new insights into relationship between female labor force and economic growth in 162 countries over the period 1990-2012. We anticipate uncovering U-shaped impact of economic growth on female labor force. To examine the previous we deploy longitudinal data...

This paper documents how the local labor market (LLM) responds to a change in touristic attractiveness. Leveraging largely underutilized data from several sources, we exploit a unique classification of Italian localities based on their main touristic assets and aggregate trends in foreign...

This paper documents how the local labor market (LLM) responds to a change in touristic attractiveness. Leveraging largely underutilized data from several sources, we exploit a unique classification of Italian localities based on their main touristic assets and aggregate trends in foreign...

In a general equilibrium model with online, entertainment and informal sectors employing skill, unskilled, and capital, we show that Covid-19 could cause polarization pushing contact-intensive entertainment industry on the brink of collapse while other two survive. Dual roles of factor-intensity...

We propose a model of “trade” between high income and low-income groups where the rich being scared of the spread of infection hires the poor to engage them in exposure-intensive outdoor activities as workers in the household industry. People who endure hardships and sustain exposure to...

In a general equilibrium model with online, entertainment and informal sectors employing skill, unskilled, and capital, we show that Covid-19 could cause polarization pushing contact-intensive entertainment industry on the brink of collapse while other two survive. Dual roles of factor-intensity...