Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, and oil prices, explains Japan’s annual growth rates from 1969 to 2007 as...

This paper examines the Transaction Cost Economics (TCE) theory of capital structure and finds that for the case of equity the usual TCE logic is not fully worked out. In particular, an analysis of the key issue of bilateral dependency between the firm and its shareholders is absent. To fill...

El presente estudio abordó la problemática del abandono estudiantil desde un enfoque a priori, el cual fue se basó conceptual y metodológicamente en Suriñach et al (2007), Duque et al (2012), Duque (2013a) y Duque (2013b). El principal propósito fue medir el efecto que tiene la...

Using methodology developed by ROSS, the Return on Assets - ROA was assessed for a firm of public utilities for water and sewer department of Antioquia. The public utilities sector of water is monopolistic nature and the method of valuation of the cost of capital used to determine the rates of...

This paper has two important goals. The first one is to build a Cournot model that illustrate the strategic behavior of the leader energy generators of the Colombian energy market, using the spot price as a strategic variable to estimate the optimal quantities of the short term energy market....

The research presented here proposes the adoption of private capital funds as an innovative alternative for financing large projects in the farming sector, focusing on late yield crops due to the fact that these crops require significant investments and do not generate cash flow during the first...

In Colombia has been infrequent of registration in the financial statements of deferred tax, despite the obligation as a mechanism for allocation and recognition of tax, established in decrees 2649 and 2650 of 1993 and affects the results, actual allocation of profits and future cash flows;...

This paper compares changes in relative and absolute wealth concentrations to establish if both processes have followed similar trajectories. The findings indicate that while the level of relative wealth concentration has increased recently, it is not extraordinarily high in an historical...

This paper explains why different studies present widely-varying estimates of the effect of increased schooling on national income. It shows that when correctly-interpreted, these studies support the hypothesis that a one-year increase in average schooling attainment raises national income...

We develop a DSGE model of the Colombian economy to assess the effect of tax policy on informal employment and income distribution.The model recreates a small open economy, with persistent income inequality, a substantial degree of informality, and different possibilities of government...