This paper formulates and estimates a model of producer behaviour for U.S. manufacturing 1947-71 that simultaneously identifies substitution elasticities, scale economies, and the rate and bias of technical change. A non-homothetic, non-neutral generalized Box-Cox cost function is employed which...

Increasing access to finance for Very Small, Small and Medium Enterprises (VSEs/SMEs) has become an important goal for many governments and development agencies as VSEs/SMEs are viewed as main drivers of economic growth and creators of employment. However, a missing middle between the ceiling of...

Economic historians frequently face the challenge of estimation and inference when only a small sample of the relevant data is available. We illustrate solutions to the challenges through a case study analysis of the Uselding and Juba (1973) data. They have only seven observations available to...

This paper contributes to the existing literature on sports-related market anomalies by examining whether losses by the New Zealand national rugby team (the All Blacks) affect stock market returns in New Zealand. The novelty of this paper is in its use of a probability model to control for the...

Using several proxies for seasonal affective disorder (SAD), we find that SAD negatively affects IPO first trading day return (underpricing) during the 1981-1989 and 1999-2000 periods, but not during the 1990-1998 and 2001-2007 periods. During those periods when SAD affects IPO underpricing,...