The health status of individuals is of great importance not only because of the direct utility health can provide but because of productivity losses and large indirect costs, caused by ill-health, which places demands on already stretched health systems and family support networks. This is...

This paper examines learning by migrating effects on the productivity of migrants who move to the ``megalopolis" from rural areas utilizing the Thailand Labor Force Survey Data. The main contribution of this paper is to develop a simple framework to empirically test for self-selection on the...

This paper proposes a test for the existence of placebo effects, as described by the so-called expectancy theory. This theory, which is the dominant medical theory of how placebo effects operate, posits that health outcomes rise in individuals' beliefs about the probability that they are getting...

The effects of inflation on real wage dispersion and welfare are studied in a cash-in-advance economy with a Walrasian goods market but a labor market with search friction. In the labor market, firms post wages and both employed and unemployed workers search among the posted wages. In...

The measurement of income inequality plays a pivotal role in the assessment of economic welfare and the design and implementation of social policies. A primary input of such measurement is data provided by household surveys. It is a well-documented fact that in these surveys some variables are...

We define a segregation ordering as a ranking of cities from most segregated to least segregated. \ We propose a set of basic properties that any reasonable segregation ordering should have. \ We then fully characterize the class of segregation orderings that satisfy these basic properties. \ We...

We compare auction revenues from discriminatory auctions and uniform price auctions in the case of the Korean treasury bonds auction market. For this purpose, we employ detailed bidder level data for each of 16 discriminatory auctions recently carried out in Korea. We first theoretically recover...

This paper tackles the problem of aggregate TFP measurement using stochastic frontier analysis (SFA). Data from Penn World Table 6.1 are used to estimate a world production frontier for a sample of 75 countries over a long period (1950-2000) taking advantage of the model offered by Battese &...

USAGE is a 500 industry dynamic computable general equilibrium model of the US economy being developed at Monash University in collaboration with the US International Trade Commission. In common with the MONASH model of Australia, USAGE is designed for four modes of analysis: Historical, where...

Two different theoretical treatments of technology diffusion in an economy are examined. The traditional model based on the aggregate production function approach first introduced by Solow (1957) assumes technology is unstructured and arrives as a continuous exogenous flow. This model predicts...