This paper proposes a theory of regulation by constructing a pseudo production function in the general equilibrium model. The theory shows that the first-best social optimum can be achieved in imperfect markets while free entry and the independent choice of price and output are retained. Three...

This paper performs a nonlinear estimation of a normalized CES production function within a system of equations with a panel of Spanish regions for the period 1964-2013. It obtains an elasticity of substitution below one and identifies different rates of factor-augmenting technical progress. The...

Productivity of the Finnish private sector decreased during the financial crisis of 2008-2009 and, since then, productivity growth has not reached the level preceding the crisis. A key factor underlying productivity growth is R&D. The population of Finnish firms, excluding Nokia, have increased...

There has recently been a global increase in economic losses due to cyberattacks. However, research on the economic damage caused by cyberattacks has mainly focused on attacked companies, and spillover damage to other sectors has not been sufficiently investigated. This study analyzed the...

The present paper examines the effect of entrepreneurship capital and spatial productivity spillovers on Greek regional labour productivity during Greek financial crisis. A spatial autoregressive (SAR) dynamic panel data model using the robust Blundell and Bond GMM estimator suggests that...

This study's primary goal is to measure the technical efficacy of Amon paddy farms and identify the key variables that significantly influence the degree of technical inefficiency of the sample farms. Using a multistage random sampling technique, 200 Amon rice-producing farms in the Jhenaidah...