In this study, we find savings deposits have contributed significantly to the effectiveness of regulation induced consolidation within the banking sector in so far as improvements in banking system structure, output, profitability, and competitiveness are concerned. Specifically, we find savings...

Suppose an economy that seeks to maintain, in perpetuity, population size and distributions for income, savings, and consumption. Regardless of births, deaths, retirements, and entry into the work force, asymptotically, there exists an infinite lived agent and only technical change facilitates...

It is well established that Tobin's q is more a measure of average productivity than marginal productivity. This study arrives at two conditions that, satisfied, transform Tobin's q into a robust qualitative - well ordered - measure for firms' marginal productivity. First, in presence of...

This study finds specification of minimum portfolio returns to be delivered by VCs in contracts that subsist between VCs and their principals is not a necessary condition for incentivization of optimal portfolio performance. Within populations of VCs who are characterized by risk aversion,...

This study formally and theoretically juxtaposes `speed of navigation' of the general equilibrium growth path (equivalently, a `low-high' innovation system), and `quality of innovations' (equivalently, a `top-down' innovation system) as alternate strategies for minimization of the time it takes...

Whereas a high quality innovation ought always to be preferred, in relation to a lower quality innovation, this study provides formal theoretical evidence for presence of alternate preferences within stock markets. Sequence of arrival of IPOs that is preferred by investors and issuers - an...

This study develops a formal theoretical rubric for estimation of the efficiency with which a country progresses on its general equilibrium growth path towards its steady state growth phase. Empirical tests confirm robustness of the metric, and show, contrary to assumptions of growth theory...

This study provides formal theoretical evidence that the concept of 'rates of innovation' is not amenable to imposition of any preference structure, as such is misleading and non-robust. Dearth of robustness derives from the finding that a decreasing rate of innovation can be shown to be...

Typically, studies of efforts of economic agents do not distinguish between efforts that directly generate returns (`return effort') and efforts that facilitate demonstration of return effort, that is, `return effort cost'. This study provides formal theoretical evidence that a distinguishing of...

Suppose an economy within which rational expectations equilibriums (REE) are predicated on the distribution of ability, and the extent to which economic agents are doubtful (`doubtfulness') as to true realizations of their ability. Let a `societal REE' denote an REE that, simultaneously...