This paper extends the seminal Dorfman-Steiner (American Economic Review, 44, 826-36, 1954) theorem by putting underlying structures on the determination of market share and on the production of quality or technology. The model developed in this paper yields a demand-pull, technology-push theory...

The study estimates the generalized autoregressive conditional heteroskedasticity (GARCH) model for a comprehensive set of both weighted (export and trade) as well as unweighted (official and black market) real exchange rate series in India. The study finds the evidence of dimensionally weak and...

The central concern of this article is to give new empirical conclusions on the relationship between human capital and economic growth. With this aim, it runs an estimation that allows us to analyse not only the contribution of human capital to output growth, but also the effect of the level of...

Beginning from long-run equilibrium under perfect competition, an increase in the wage due to an upward shift in labour supply generates negative profits. In order for long-run equilibrium to be restored, the price of output must increase. This causes the marginal revenue product curve for...

Using US income data, several functional forms for the Lorenz curve are evaluated. On the basis of the goodness of fit, estimated income shares and Gini coefficients, the form proposed by Kakwani (Electrometrica, 48, 437-46, 1980) is found to be overall superior to the other forms.

Results of recent studies for the USA, Canada and Australia have suggested that the term structure of interest rates contains predictive power for real GDP growth, and that this result is robust to the inclusion of additional variables, such as stock market indicators and lagged growth rates....

The paper examines the impact of changes in trade values and FDI inflows on the Gini coefficients for Korea. The empirical evidence shows that the concerned variables can, in general, be assumed to be integrated of order one. Johansen-Juselius cointegration tests reveal that the Gini...

This paper investigates the assumption of the human development index (HDI) that per capita GDP has diminishing returns to development. Alternative returns to scale assumptions for per capita GDP are evaluated using correlation and principal components analyses conducted on four separate samples...

The nonlinear behaviour of four coffee price series is examined, that is, unwashed Arabicas (i.e. coffee from Brazil), Colombian Mild Arabicas (i.e. coffee from Colombia), other Mild Arabicas (i.e. coffee from other Latin American countries), and Robusta coffee (i.e. coffee from Africa and...

This study estimates the effect of fertility on the labour force participation of married women in Korea. Since Korean households prefer sons to daughters, there is exogenous variation in the number of children among households, depending on their first child's sex. Using this exogenous...