The impact of institutions on economic performance is currently the subject of much research. In this study we use panel data to estimate a stochastic production frontier and the sources of inefficiency for a broad set of countries. A maximum-likelihood procedure is used to estimate the...

Large internal migration flows are typically viewed as evidence of flexible U.S. labor markets adjusting to asymmetrical regional demand shocks. Yet, amenity-induced migration flows suggest that they may not necessarily facilitate adjustment to demand shocks and instead may be destabilizing....

Endogenous growth models have reignited interest in regional economic growth. Recent regional growth studies focus on dynamic externalities related to localization and urbanization economies. Yet, these studies typically attempt to observe externality-induced productivity effects indirectly...