We analyze some macroeconomic implications that follow from the fact that people tend to consume higher-quality goods as their incomes rise. The model involves two sectors: one producing a homogeneous good and the other producing a product with variable levels of quality. Both sectors use...

Industrial Revolution (marked by turning invention to innovation leading to mass production through division of labour with labour mix in the proportion - one engineer - five technicians - 50 craftsmen - and laying emphasis on non-high-academically qualified manpower like technicians and...

This paper assesses productivity trends in Canada vis-a-vis the United States from two perspectives. The first one is based on estimates of total factor productivity. The second one decomposes productivity growth into two sources: investment-specific technical change, associated with...