The question we address in this paper is which factors influence the quitting decision of public sector teachers in England and Wales, using a nationally representative panel data set over 1997-2003. We document the outcomes of former teachers, fit single and competing-risks duration models and...

We consider a model of the innovative environment where there is a distinction between ideas for R&D investments and the investments themselves. We investigate the optimal reward policy and how it depends on whether ideas are scarce or obvious. By foregoing investment in a current idea, society...

This paper presents estimates for a thirty year period of Australia’s Gross Household Product (GHP), the economic value added by unpaid labour and the households own capital. In 2000 GHP was estimated to be worth $471 billion. Gross Market Product (GDP minus the imputed value of owner-occupied...

This paper builds a theoretical foundation for the dynamics of knowledge sharing in private industry. In practice, research and development projects can take years or even decades to complete. We model an uncertain research process, where research projects consist of multiple sequential steps....

This paper discusses issues to do with the empirical basis of modern economics and points towards the need to look more closely at the ‘homogeneity assumption’ that underpins much economic theory. It argues that severe problems currently prevent economics from becoming more persuasive to...

Despite these disagreements about the nature of the role of government, particularly in Taiwan and Korea, the pattern of economic growth and structural change observed in developing Asia has been broadly consistent with classical and neoclassical models of economic growth and development which...