The payment of sunk costs associated with the entry to foreign export markets highlights the significance of financial dimension in the firm decision. The sunk costs become a challenge for the financially constrained firms. In this paper, we study the relationship between financial constraints...

An energy resource as a production input plays a major role in various economic sectors, including commodity production, transportation, and electricity generation. However, increased energy consumption may lead to more air pollution, resulting in negative health impacts in a society. The main...

An energy resource as a production input plays a major role in various economic sectors, including commodity production, transportation, and electricity generation. However, increased energy consumption may lead to more air pollution, resulting in negative health impacts in a society. The main...

In this paper, we conduct an empirical study of the effect of uncertainty on fertility. The precautionary motive for saving predicts that an increase in uncertainty increases saving by reducing both consumption and fertility. We use a new measure of uncertainty, the World Uncertainty Index, and...

This paper reconsiders the Balassa-Samuelson (BS) hypothesis. We analyze an OECD country panel from 1970 to 2008 and compare three data sets on sectoral productivity, including newly constructed data on total factor productivity. Overall, our within- and between-dimension estimation results do...

This paper reconsiders the Balassa-Samuelson (BS) hypothesis. We analyze an OECD country panel from 1970 to 2008 and compare three data sets on sectoral productivity, including newly constructed data on total factor productivity. Overall, our within- and between-dimension estimation results do...

In this paper, we conduct an empirical study of the effect of uncertainty on fertility. The precautionary motive for saving predicts that an increase in uncertainty increases saving by reducing both consumption and fertility. We use a new measure of uncertainty, the World Uncertainty Index, and...