The hypothesis that economic freedom and related variables are significant determinants of real per capita income and growth is critically evaluated. Economic freedom is found necessary for higher levels of per capita income and growth largely in terms of threshold effects as opposed to...

This study reports on the potential use of “cheap talk†in hypothetical new product valuation research using a simple field experiment eliciting subjects' willingness to pay for a new product. While cheap talk has been used in the non-market valuation literature, its application in...

This paper investigated the relationship between remittances and economic growth in Nigeria, using an error correction modeling approach for the period 1981 to 2011. Our result revealed that remittances positively impact on the economic growth of Nigeria. We have found that a 1 percent increase...

The siting of solid biomass energy plants can be conceived as a transaction process taking place between two specific economic agents, the investor and local community. The investor is interested in obtaining the use rights for local resources (e.g., area for setting; natural resources to feed...

We use a novel time-frequency approach to estimate wavelet-based correlation and retention coefficients of the well-known Feldstein-Horioka (1980) puzzle for a cross-section of 39 countries over the period 1960-2012. Our approach reveals many interesting issues in the connection between...

A revised model of the preference function is presented incorporating utility maximizing acts of material self-sacrifice. This model incorporates neoclassical and behavioral arguments, allowing for the stylized fact that economic agents are motivated by both material and non-material incentives....

Econometric analysis can be mobilized by the regulator to set cost-oriented prices. Indeed, the regulator can influence the market structure to lower these rates. Our work is to estimate,econometrically, the effect of variables related to market structure and competition on mobile termination...

Regarding the trade-off between the depth and the duration of recessions, there exists a mounting empirical evidence of the idiosyncratic and non-synchronized behavior of the business cycle over time within and across countries. To account for the trade-off, a model is presented wherein an...

This note raises the issue of whether asymmetry in estimated monetary-policy rules for the U.S. can be a spurious result due to model specification, rather than a robust feature of the estimated rules themselves. I estimate standard - linear - Taylor rules, and test for conditional symmetry...

20 years ago, William Baumol provided an interesting wish list that outlined his hopes for the future of economics over the next hundred years. Impatiently, this paper puts his wish list to the test by comparing the characteristics of publications that appeared in the American Economic Review...