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A Long Run Profit Function and a Review of the Returns to R&D

Arnade, Carlos; Khatri, Yougesh; Schimmelpfennig, David; … - 2015

This chapter extends the work of the previous chapters by fitting a long run profit function to investigate the sources of output growth in South African agriculture. In the long run, all the conventional inputs are treated as variable, but the technology-related variables are fixed because they...

Persistent link: https://www.econbiz.de/10014183712

Reconceiving Social Exclusion

Fischer, Andrew M. - 2011

Several ambiguities in the social exclusion literature - in both the fields of social policy and development studies - fuel the common criticism that the concept is redundant with respect to already existing poverty approaches, particularly more multidimensional and processual approaches, such...

Persistent link: https://www.econbiz.de/10014183714

Learning as a Rational Foundation for Macroeconomics and Finance

Evans, George W.; Honkapohja, Seppo - 2011

Expectations play a central role in modern macroeconomics. The econometric learning approach, in line with the cognitive consistency principle, models agents as forming expectations by estimating and updating subjective forecasting models in real time. This approach provides a stability test for...

Persistent link: https://www.econbiz.de/10014183715

The Evolution of the Common Law and Efficiency

Garoupa, Nuno; Gómez Ligüerre, Carlos - 2011

The efficiency of the common law hypothesis has generated a large bulk of literature in the last decades. The main … English law. This paper assesses the efficiency of the common law hypothesis to detect the possible explanations for those … undermining the "one-size-fits-all" theory of the legal origins literature …

Persistent link: https://www.econbiz.de/10014183742

Equity and Redistribution between Generations : A Challenge for the Future of Pensions and All Social Protection Schemes

Guillemard, Anne-Marie - 2010

Throughout Europe today, the problems of employment and the prospects of pronounced demographic ageing combine to raise a number of questions on the future of pensions and on the underlying principles of redistribution between generations. Everywhere a new debate has arisen on intergenerational...

Persistent link: https://www.econbiz.de/10014183757

The Price of Education and Inequality

Nakajima, Tetsuya; Nakamura, Hideki - 2012

Constructing a simple model that includes the price of education, this paper shows that the educational expenditure of rich households could prevent poor households from escaping poverty. The paper offers an explanation for persistent inequality

Persistent link: https://www.econbiz.de/10014183785

Interring the Pioneer Invention Doctrine

Love, Brian J. - 2015

This article provides the first comprehensive analysis of patent law’s “pioneer invention doctrine” in almost two decades. Since the early 1990s, patent scholars have unanimously reported that case law favoring so-called “pioneer” patents – i.e., those disclosing the most...

Persistent link: https://www.econbiz.de/10014183793

Time Consistent Markov Policies in Dynamic Economies with Quasi-Hyperbolic Consumers

Balbus, Lukasz; Reffett, Kevin; Wozny, Lukasz Patryk - 2014

We study the question of existence and computation of time-consistent Markov policies of quasi-hyperbolic consumers under a stochastic transition technology and borrowing constraints. Under standard assumptions on preferences, as well as a mild geometric condition on a transition probabilities,...

Persistent link: https://www.econbiz.de/10014183796

The Delphi Technique : A Re-Evaluation of Research and Theory

Rowe, Gene; Wright, George; Bolger, Fergus M. I. - 2011

This paper examines the Delphi technique critically to determine whether it succeeds in alleviating the 'process loss' typical of interacting groups. After briefly reviewing the technique, we go on to consider problems with Delphi from two perspectives. First, we examine methodological and...

Persistent link: https://www.econbiz.de/10014183803

Time Preference and Time Use : Do Smokers Exercise Less?

Song, Younghwan - 2011

Using matched data from the Tobacco Use Supplements to the Current Population Surveys and the American Time Use Surveys, this paper examines how differences in time preference, as measured by smoking status, affect time spent on various nonmarket activities in a day. Even after controlling for a...

Persistent link: https://www.econbiz.de/10014183810