This paper shows the existence and nature of optimal policies of accumulation of physical and human capital for an economy with ever ywhere fixed coefficients. The long run is described by a "golden-rule," which generalizes earlier results on education and growth but which, unlike them, does not...

Increased spending on pharmaceuticals continues to foster debate over healthcare policy. The increasing costs of bringing products to the market, as well as increased utilization of pharmaceuticals contribute to increased pharmaceutical expenditure; however, appropriate pharmaceutical use can, in...

The logit regression model is generally used as a method for estimating relationships in which the dependent variable is binary in nature, though it is also useful for estimation when the dependent variable is continuous but bounded on the unit intervals. Logit parameter estimates in this case...

Thanks to anti-retroviral therapies, people living with HIV in developing countries can now have a near-normal life at a cost of a few hundred dollars per year.  We postulate that given this newly low cost of maintaining lives, there is a moral duty to rescue those who are infected.  The core...

The paper assesses the multilateral development financing system in the light of the replenishments of three key funds in 2013. It argues that the replenishments showed strong continuing support for each institution, but identifies challenges emerging fro

The structural properties of steady state are well understood for multisector models, but the comparative dynamics of long-run growth are much less developed. By exploiting duality theory, this paper obtains conclusions about these effects for a small, internationally-trading economy. Arbitrary...

A large country is able to affect its trading partners' accumulation of capital, and so it can alter future market conditions. Capital movements can be regulated by perfectly discriminatory policy to maximize the welfare of the large country by exploiting this link. This policy implies that...