Classical growth convergence regressions fail to account for various sources of heterogeneity and nonlinearity. While recent contributions are able to address either the one or the other, we present a simple two-step method to address both issues. Based on a slightly augmented version of a...

A firm that faces insufficient supply of labor can either increase the wage offer to attract more applicants, or reduce the hiring standard to enlarge the pool of potential employees, or do both. This simultaneous adjustment of wages and hiring standards has been emphasized in a classical...

Forms of Distribution of Savings Account Deposits Analyses of savings account deposits have hitherto been limited essentially to investigations of average values. Predications as to the form of distribution, i.e. as to the distribution function and its parameters, could not be derived from those...