The basic efficiency wage model is analysed with real wages and cost pricing firm. The Solow condition implies that the effort wage output price elasticity is zero. Some empirical evidence from the US crude petroleum and natural gas industry and a sample of Finnish manufacturing industries does...

In this paper, we estimate the net capital stock of the agricultural and industrial sectors for Japan, Korea and Taiwan in their national currencies. Based on the availability of the investment data, the net capital stocks for Japan for the two sectors are estimated from 1905 to 1940 (prewar),...

We consider a static portfolio system that satisfies adding-up constraints and Tobin's gross substitution theorem. We show the relationship of the two conditions to the weak dominant diagonal property of the matrix of interest rate elasticities. This enables us to investigate effects of...

This paper uses a pooled Canadian data set to test for the causes of government growth. Unlike previous studies, these causes are tested simultaneously to avoid misspecification problems. The decentralization of government activities is found to lower the relative size of the public sector when...

The lifetime of a motion picture is the margin through which supply adjusts to market demand due to demand-invariant admission prices and fixed seating capacity. The lifetimes of a sample of 493 motion pictures that were exhibited at cinemas in Hong Kong during 1994-1996 are examined. It is...

This paper examines the stability of the (cross-sectional) Kuznets curve with focus on the international comparability of both income distribution and income data. If the Kuznets curve changes its slope, or if the relationship between income and income inequality is not stable over time, then,...

A new Hausman test is presented for the exogeneity of a dummy variable in a probit model. It is very easy to implement because of the equivalence of the log likelihood functions for bivariate probit and recursive probit. The procedure is applied to a model of student loan default due to Knapp...

This paper examines uncertainty of outcome within the context of international sporting competition through analysing the ratio of medal winning to participating nations for the history of the Summer Olympics. A deficiency within the economics of professional team sports literature concerns the...

Linder's theory, which states that industrialized countries import the same kinds of goods as they export, has been tested with different degrees of success. In this article its performance is investigated within the context of the formation of the EEC trade block. The formation of trade blocks...

A simple model is presented which predicts that the inequality of lifetime wealth is a bounded random walk process. Empirical support for the model is found using UK data for 1970-94.