Walter Korpi argues in a previous issue of Challenge (March/April 2000) that Swedish economists' claim that Sweden's growth performance has been inferior to that of other industrialized countries is at odds with the facts. Since Sweden has not grown slowly relative to other countries, there is...

This paper investigates the time-path of efficiency and productivity change in the case of the Romanian cement industry 1966-1989. The analysis is based on different specifications of stochastic frontier models. The efficiency scores and the time paths of efficiency and technical change are...

We performed a cross-sectional, bottom-up observational study of resource consumption and quality of life of patients with multiple sclerosis (MS) in the United Kingdom. Three centers participated in the study. Patients received a questionnaire either by mail or during a clinic visit, and a...

We investigate the term structure of forward and futures prices for models where the price processes are allowed to be driven by a general marked point process as well as by a multidimensional Wiener process. Within an infinite dimensional HJM-type model for futures and forwards we study the...

The motivations underlying the pursuit of college prestige in Japan presumes a labor market that rewards workers according to the quality of the college that they attended. Yet, studies that examine the relationship between college quality and earnings in Japan remain few and riddled with...

The recent 'scientification' of commercial technology has brought the interface between universities and industry into sharp focus. In particular, academic entrepreneurship, i.e., the variety of ways in which academics take direct part in the commercialization of research, is widely discussed....

What is the long-run relationship between monetary and fiscal policies? This paper provides an answer by examining a large set of data covering major economies during the past 115 years. The evidence suggests the existence of a close interaction between the monetary regime, that is the behaviour...

One of the main features of health insurance is moral hazard, as defined by Pauly (1968); people face incentives for excess utilization of medical care since they do not pay the full marginal cost for provision. To mitigate the moral hazard problem, a coinsurance can be included in the insurance...

Both proximity-concentration trade-off and factor proportions explanations have been forwarded to explain the existence of multinational enterprises. This paper analyses to what extent these different explanations are supported empirically, in making a first attempt to distinguish explicitly...