In Solow’s model the income convergence between countries arises from two main sources: a capital deepening effect resulting from the diminishing returns of the production technology and a technological transfer/diffusion effect related to Total Factor Productivity (TFP) differences. A large...

Standard tools for the analysis of economic problems involving uncertainty, including risk premiums, certainty equivalents and the notions of absolute and relative risk aversion, are developed without making specific assumptions on functional form beyond the basic requirements of monotonicity,...

By using output distance functions, this paper decomposes energy productivity change into several components: effects of the changes in the ratios of non-energy inputs to energy, energy supply composition, and output composition; technical efficiency change; technological change. We apply this...