The hypothesis of Phillips curve trade-off is tested by applying a two-state first-order Markov switching model to estimate a simple expectation-augmented Phillips curve, which allows for the possibility that samples are drawn from two normal distributions. Evidence from the UK shows that, two...

The note has two primary purposes. The first is to extend the literature examining costs in higher education to a frontier cost function framework. The second goal is to determine whether the source of funds in public higher education influences the degree of efficiency Results show that larger...

A nonparametric method of measuring cost competitiveness is empirically applied over international airlines data and a comparison made of the two subsets: competitively efficient and the nonefficient.

The conventionally calculated Solow residual has been used as a measure of exogenous productivity shocks that contribute to the business cycle. However, recently this residual has been shown to be endogenous and has led to the conclusion that the aggregate economy is characterized by increasing...

Results show that there are significant differences across countries in terms of who becomes an entrepreneur. In particular age, gender and education were found to be key variables, although the nature and strength of the relationship varies considerably across countries. It was concluded that...

In a recent article in this journal Hitiris used panel data for ten EC countries to analyse the determinants of aggregate health care expenditure. This comment shows that the model was plagued by a spurious regression problem. The data are reexamined using standard unit root and cointegration...

There have recently been a growing number of computable general equilibrium (CGE) analyses for developing economies. These analyses often employ so-called structuralist CGE models equipped with fixed wage rates and unemployment (or an unlimited supply of labour). However, the assumption of fixed...

Data on willingness-to-pay (WTP) collected from contingent valuation surveys are usuallycensoredat zero. Insuch cases, ordinary least squares estimationof the WTP equation produces inconsistent parameter estimates. The maximum likelihood estimation of the Tobit model, which is widely used in...

Recent work has shown the components of consumers' expenditure to exhibit differing temporal properties. Evidence from univariate tests of asymmetric behaviour and time deformation models have found durable consumption to possess excessive cyclicality and display a greater degree of asymmetric...

This letter, using regression analysis, attempts to quantify the relationship between foreign direct invetment (FDI) and jobs in the European Union. A sample of 401 Japanese firms in four EU member states has been chosen. It is shown that despite the clear enthusiasm of governments in these...