dataset of 10 ASEAN countries from 1980 to 2017, this study examines the productivity and efficiency of the ASEAN economies … productivity index to provide estimates of gross technical efficiency, technical progress and returns to scale change, while taking … into account of transient and persistent efficiency. The results show that there is room for efficiency gains, as the ASEAN …

We construct an endogenous growth model in which bank runs occur with positive probability in equilibrium. In this … setting, a bank run has a permanent effect on the levels of the capital stock and of output. In addition, the possibility of a … periods. A bank run in our model is triggered by sunspots, and we consider two different equilibrium selection rules. In the …