This research presents a dynamic model of crime in which agents anticipate future consequences of their actions. Current period decisions affect future outcomes by a process of capital accumulation. While investigating the role of human capital, the focus of our study is on a form of capital...

We study criminality in a dynamic context by introducing social capital into the economic theory of crime. Social capital measures the extent to which an individual is bonded to legitimate society. According to the social control perspective. bonds to society strengthen as the individual ages,...

The paper focuses on Nigeria, which has over the years invested substantially to improve the educational attainment of the labor force and to raise productivity but yet still faces declining real output and slow economic growth. The study observes that this puzzle is attributable to labor market...

This paper investigates empirically the effects of institutions and market characteristics on corporate capital structure dynamics. Based on the fact that firms may temporarily deviate from their optimal capital structure due to the existence of adjustment costs, a partial adjustment model is...

We use a dynamic framework and panel methodology to investigate the determinants of a time-varying corporate capital structure. Our sample comprises 706 European firms from France, Germany, Italy and the U.K. over the period from 1983 to 2002. If capital structure adjustment is costly, firms may...

Grid-connected inverters are key elements that interface the distributed energy sources with the grid. In this paper, a graphic modelling method based on switching flow graph is presented for modelling inverters, with a one-cycle controlled inverter as an example. This method features great...

The accession of Spain to the European Economic Community, now the European Union, entailed major changes for the milk sector. We try to determine whether the structural adjustment processes of the firm triggered by the changing environment present irreversibilities using a adjustment costs dual...

This paper uses household survey panel data of 416 rural households to study livestock asset dynamics in the north-east of Ethiopia. The period under examination (1996-2003) was marked by severe environmental shocks, including a series of droughts. Using as point of departure the literature on...

The purposes of this paper are twofold: first, it aims at critically evaluating the solvency criterion, pioneered by Hamilton and Flavin (1986), which is nowadays almost hegemonic in the analysis of public debt sustainability, and at illustrating alternative measures of sustainability grounded...

La Cabrera Sierra is a granitic paleozoiczone homogeneous in lithology andmorphology 5 km long and 60 km from Madridwith rockfall problems. Mostof the maps used in common practice, aremainly maps of susceptibility toinstability or failure. When rockfall takesplace, the main problem for...