A developing country such as Bangladesh, where economic development without compromising the eco-friendly environment is a burning issue, needs huge supply of power. Having very limited fossil fuels, sources of renewable energy such as solar, wind, biomass and limited hydro power are the...

Wage formation is often analyzed by assuming that wage differentials reflect productivity differentials intrinsic to the workers, like differences in skill or qualification. Observed industry and firm effects on wages suggests, however, that wage differentials may result from causes rather...

This paper develops a theory of stagflation, based on turnover-efficiency-wage theory. In these theories, wages are forward-looking, i.e., set to keep incumbents with the firm. The employed workers apply for better jobs and compete with unemployed applicants. An employed applicant is, however,...