We consider the determinants of the evolution of wage inequality in the context of the literature on entry and exit of establishments. Using several measures of wage inequality (overall, within-group, and between-groups), we conclude that shutdowns reduce overall and within-group inequality...

It remains a question whether serial entrepreneurs typically perform better than their novice counterparts owing to learning by doing e¤ects or mostly because they are a selected sample of higher-than-average ability entrepreneurs. This paper tries to unravel these two effects by exploring a...

In countries with highly-developed financial systems bank portfolios have high exposure, directly or indirectly, to the real estate sector. Changes in the value of real estate can have a potentially significant impact on the default risk of banks and on their profitability as a result of high...

This paper re-examines the role of physical capital accumulation in the Indian economy over the period 1953-2010. As an alternative to the orthodox total factor productivity (TFP) view, the paper develops a combined TFP-capital accumulation hypothesis of growth transitions. The results show that...

Regarding states and state-like entities as producers and taxation as a price, this paper connects the thoroughly studied impacts of the market structures in microeconomics to the controversial Laffer curve, suggesting that the outcome of the “taxation market” depends also on competition. By...

The role of multinational firms in the world economy is widely recognized. Multinationals’ activities produce various effects in the host countries, particularly in areas such as: economic growth, technology and innovatory capacity, employment, market structure, performance and business...

We propose a framework to solve dynamic nonlinear infinite-horizon models like those found in the standard economic growth literature. We employ a direct method to solve the underlying optimal control problem, something novel in the economic literature. Instead of deriving the necessary...

In a market with several independent cities, two firms with private information about their production costs decide whether to open a store in each city or restrict their activity to some cities. In cities where a single rm opens a store, this firm is a monopolist. In cities where both firms...

The Minimum Cost Network Flow Problem (MCNFP) includes a wide range of combinatorial optimization problems. Many applications exist for MCNFPs for instance supply chains, logistics, production planning, communications and transportations. Concave costs are, in many applications, more realistic...

The empirical literature focusing mainly on the USA suggests that class absenteeism undermines students’ academic performance and that an enforced mandatory attendance policy may be beneficial. Based on a different cultural and economic context, and using data on 146 second-year management...