We draw on three strands of literature dealing with utilization, maintenance, and scrapping in order to analyze the properties of the respective policies and their interac-tions. We do so by focusing on the last period of the received multi-period service life model and extending it in three...

We show that the character and the morality of citizens are important ingredients of economic growth because they go hand in hand with the great institutions of private property, democ-racy, and free markets. Our approach enables us to establish this result by reference to the structure and...

This paper examines the effect of inflation on total factor productivity growth (TFP), using time-series data for every two digit Greek manufacturing industries. In order to do the above a translog flexible cost function is estimated and used to decompose TFP growth into scale economies,...

The models Feldstein and Rothschild, on the hand, and Jorgenson on the other adopted in 1974 to highlight the replacement ratio are identical. Yet, the authors reached opposite conclusions and the latter's view prevailed, which is weaker in terms of theoretical and empirical foundations. This...

The distinguished contributors in this volume provide a variety of essays, which are written in honor of Emmanuel Drandakis. These essays fall into four uniform areas of economics: economic growth, general equilibrium, labor economics and game theory and applications.