The aim of this paper is to test the claim that social protection is a luxury good. Therefore, GDP elasticity of selected social protection expenditure is estimated using a new econometric approach developed first by Kao and Chiang (Advances in Econometrics, 15, 179-222, 2000). Time series...

This paper treats nonprofit firms as elements within the ecology of enterprises that constitute an economy. Within this ecological framework, nonprofit governance must to a significant extent be guided by economic signals generated through market competition. After we examine the problems of...

This paper investigates the relationship between government spending and private consumption. The general framework is a cointegration approach of Ogaki (1992) used to estimate the intratemporal elasticity of substitution between government and private consumption in a panel of 15 European...

Over the past two decades nonprofits organizations have been urged to become more business-like in order to survive and grow, and to depart from the single-minded pursuit of their missions. This paper explores investment decisions of nonprofits under current US tax law, and specifically...

This paper seeks to contribute to our understanding of the relationship between economic policy and economic growth. With the use of a standard growth model, it assesses the influence of public investment and public transfers on the rate of economic growth. It does this by using data from the 20...

Understanding health-care utilization is important to design efficient and effective health-care systems. Towards this end, we propose a relatively simple and intuitively appealing microeconometric framework based on a two-part model to investigate the determinants that increase the probability...