Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We examine the effect of product market regulations on hours worked in a benchmark aggregate model of time allocation. We find that product market regulations affect time devoted to...

The large differences in hours of work across industrialized countries reflect large differences in both employment to population ratios and hours per worker. We imbed the canonical model of labor supply into a standard matching model to produce a model in which both the intensive and extensive...

Recent empirical work finds a negative correlation between product market regulation and aggregate employment. We examine the effect of product market regulations on hours worked in a benchmark model of time allocation. Product market regulations affect market work in effectively the same...

To impose the law of one price (LoOP) restrictions, which state that all firms face the same input prices, Kuosmanen, Cherchye, and Sipiläinen (2006) developed the top-down and bottom-up approaches to maximizing the industry-level cost efficiency. However, the optimal input shadow prices...

Based on the Lee-Carter (LC) model, the benchmark in population forecasting, a variety of extensions and modifications are proposed in this paper. We investigate one of the extensions, the Hyndman-Ullah (HU) method and apply it to Asian demographic data sets: China, Japan and Taiwan. It combines...

Congestion is a widely observed economic phenomenon where outputs are reduced due to excessive amount of inputs. The previous approaches to identify congestion in nonparametric analysis only consider desirable outputs. In the production process, undesirable outputs are usually jointly produced...

This paper develops a model to assess the quantitative effects of barriers to entry and financial frictions on cross-country income and TFP differences. The main focus is on the interaction between barriers to entry and financial frictions. The model is calibrated to match the firm level...