In recent years, educational issues have been of greater importance in economic analysis. Many papers suggest that education is essential for economic growth as well as an important tool to achieve better equality. These effects have been discussed and confirmed by several researchers, whose...

In a competitive market situation, a symmetric price transmission is expected, and the speed of adjustment of the market should be equal, no matter in which direction input prices are going (up or down). When inputs' prices increase, firms need to pass on costs to avoid negative profit...