This paper uses a harmonized dataset of annual nightlight to predict district-level GDP for the 64 districts of Bangladesh over the period 1992-2020. The premise of the paper originates from the work of Henderson et al. (2012), who assert that a simple constant elasticity relationship...

The end of the Cold War, which resulted from the collapse of communism and the spread of free market ideas in the former Soviet Union, China, and nations in Eastern Europe, has brought about many dramatic and momentous changes on the world scene. One remarkable development not widely recognized...

The possibility of obtaining a "theory" of money is questioned, where a theory is taken to mean an explanatory framework using a small number of observables. The root of the problem lies in the maximizing nature of economic agents. Money is means to effect transactions and savings; what will be...

We analyze economic convergence across 64 districts of Bangladesh using newly harmonized satellite night light data over 1992-2018. The growth in night lights—taken as a proxy for regional economic activity—reveals overwhelming evidence of absolute convergence. Regional differences in night...

We examine economic convergence among subnational regions of Bangladesh over the period 1992-2013. Absent the traditional gross domestic product (GDP) for subnational areas and building on the recent findings of luminosity literature, we use night lights intensity as a proxy for local economic...

A nonstandard counterpart to the results of Allen and Hellwig (1986) on the convergence of a Bertrand-Edgeworth equilibrium arising out of price setting by firms operating under capacity constraint into a Walrasian (or competitive) equilibrium is presented and analyzed

Adam Smith’s economic system followed his philosophical convictions. The policy conclusions came before the analysis. To support his policy of Free Trade, or rather, the ‘system of liberty’, Adam Smith gradually built up his economic system , from the Lectures on Jurisprudence to the...

There are good indicators of the nature of the economy underlying the famous Hindu epic love story of Rama and Sita, the Ramayana. This paper attempts to extract the main features of this economy and present them succinctly

We examine economic convergence among subnational regions of Bangladesh over the period 1992-2013. Unavailability of the traditional gross domestic product (GDP) for subnational areas and building on findings of recent luminosity literature, we use night lights intensity as a proxy for local...