This paper makes contributions to the estimation of health production functions and the economics of fertility control. We present the first infant health production functions that simultaneously control for self selection in the resolution of pregnancies as live births or induced abortions and...

An alarming legacy of the austerity programs in the euro area is the vast disinvestment that has taken place over the recent years, and especially so in the peripheral economies. Unless it is quickly reversed, disinvestment not only hinders long-term growth but also undermines the prospects of a...

It is well known that, in continuous time, the Cobb-Douglas function can be derived from the underlying, data governing, accounting identity under some reasonable assumptions (factor shares are constant, and the weighted growth of the labour input price and the capital input price is constant)....

The health production function of the canonical health-capital model is generalized to allow the state of health to affect the total and marginal products of health investment. If the total and marginal products of health investment are nonincreasing functions of the state of health, then the...

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...