Resource misallocation can lower aggregate total factor productivity (TFP).We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...

India saw economic downturn in 2018 due to various reasons, slipping from the tag of world fastest economy, moody amended India’s outlook to negative, unemployment rate were at 6.1% highest ever since 45 years, also registered electric generation growth at 1.8% lowest since 1990 accompanied by...

The emergence of coronavirus disease (COVID-19) on the global public health scene has led to growing concerns and uncertainties. The COVID-19 pandemic has created both a medical crisis and an economic crisis. As others have noted, I face challenges just as big as those in the Spanish Flu...

Covid-19 has activated a global shock comparable to World War II. Worldwide lockdown, closed borders, regional trade, accelerated regionalism, and mitigated policies have resulted in a massive loss in the global economy. For some economists, the economic shock produced by the imposed lockdown is...

Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).

Resource misallocation can lower aggregate total factor productivity (TFP).We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...

To exploit the economies of scale and scope in multi-product technologies, enterprises in advanced capitalist countries grew in the last 150 years in three directions. By substituting in the place of traditional entrepreneurs professional managers, they developed organisational capabilities to...

A characteristic of many bargaining situations is that the negotiators represents the interests of a set of parties (trade unions, political parties, etc.) with composite interests, whose bargaining behaviour is regulated by some collective decision mechanism. In this paper we provide a natural...

We study a class of symmetric, quasi-homothetic preferences that result in demands logarithmic in own prices when these have a negligible impact on aggregate price indices (as in monopolistic competition models). Thus marginal revenues are computationally friendly, and decreasing whenever...

The objective of the study is to get an idea about people’s perception on the choice of petrol pumps in Karachi. To accomplish the purpose, it was hypothesized that (1) Location has a significant impact on the choice of Petrol Service Stations (2) Quality has a significant impact on the choice...