Since the mid-1980s, the UK’s aviation sector has undergone substantial liberalisation. This was a great success story as far as it went. But two major components have bucked that overall liberalisation trend: airport capacity, and the allocation of take-off and landing slots. These are the...

Although there have been studies on the effect of slack resources on performance, the role of the environment is often ignored. To address this research question, three types of slack resources (available, recoverable, and potential) and three environmental dimensions (munificence, dynamism, and...

We study the monetary policy transmission or lack of it in Indian context using a Monetary Business Cycle Accounting (MBCA) framework. The standard MBCA setup consists of a real business cycle model with a central bank following Taylor’s rule augmented with wedges which capture the deviation...

Productivity reflects not only how efficiently inputs are transformed into outputs, but also how well information is brought to bear on resource allocation decisions. This paper examines this empirically by looking at how on-board computer (OBC) adoption has affected capacity utilization in the...

We propose a simple method to help researchers develop quantitative models of economic fluctuations. The method rests on the insight that many models are equivalent to a prototype growth model with time-varying wedges which resemble productivity, labor and investment taxes, and government...