Interest in the topic of well-being has burgeoned in recent years as the weaknesses of gross domestic product (GDP) per capita as a proxy for well-being have become more apparent. At the same time, the global economy has experienced a productivity slowdown. Since productivity growth is...

Sleep is a source of energy. This energy is available in limited quantity and individuals must decide when it should be renewed and when it should be consumed. The economics of sleeping and the economics of resource extraction are one and the same. More specifically, utility maximization with...

In the two-country Melitz (2003) model, unilateral trade liberalization is often cast as a reduction of iceberg transportation costs and wages are determined by a linear outside sector. We show that welfare results reverse when wages adjust and trade frictions are revenue-generating tariffs.

This paper derives a new effect of trade liberalisation on the quality of the environment. We show that in the presence of heterogeneous firms the aggregate volume of emissions is influenced not only by the long-established scale effect, but also by a reallocation effect resulting from an...

Conventional R&D-based growth theory argues that productivity growth is driven by population growth but the data suggest that the erstwhile positive correlation between population and productivity turned negative during the 20th century. In order to resolve this problem we integrate R&D-based...

This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A feedback mechanism between capital accumulation and the ease of knowledge diffusion explains a long epoch of (quasi-) stasis and an epoch of high growth linked by a gradual economic...

In this paper we account for observed management practice in the estimation of aproduction function. In our model management practice is observable and we allow it toaffect output directly (neutral shift) and indirectly by affecting input productivity. Thisformulation gives us a semiparametric...

We propose a model of production where technical change is both time and management induced. We define a general management index in addition to the general time index of Baltagi and Griffin (1988) and use them as arguments in the translog productionfunction. Time and management induced...

Following along the lines of a growing literature on the causal link between exporting and productivity this paper analyzes the existence of 'learning-by-exporting'in Slovenian manufacturing between 1994 and 2002. This paper asks whether in addition to good firms self-selecting into exports and...