Dutch disease is a condition whereby a booming export sector along with a concomitant strengthening of the non-tradable sector cause a deterioration in the rest of the tradable sector. Regression analysis finds that Dutch disease due to international remittances appears to afflict the developing...

The paper uses the "subjective well-being as input" framework to examine how life satisfaction and other life circumstances might affect the consideration of price stability. Results show that people who experience negative or adverse situations are more likely to attend to negative matters like...

This articple presents a historical macroeconomic perspective to present a brief analysis on why the Philippines is performing the way it does today.

The Inequality-adjusted Human Development Index (IHDI) was presented in the 20th anniversary edition of the Human Development Reports, in 2010. In using a penalty setup for the calculations of the IHDI, however, the results overestimate the adjustments on the HDI. This paper suggests a revision...

Does parenthood bring happiness? This paper finds that the overall impact of parenthood on happiness is negative because the negative indirect impacts exceed the positive direct on happiness. What needs emphasizing is that, while the findings show that parenthood is still a positive status,...

The paper presents evidence that validate the focusing illusion. Specifically, the forecasted impact of a basketball championship on students’ subjective well-being was exaggerated because of their intense focus on the event. However, the self-reported states of being for life domains not...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...