In a new model of work schedules, employers choose the number of working hours and either dictate the exact hours to be worked or delegate that decision to workers via flextime. Workers' preferences over schedules influence their productivities. An inverted-U-shaped hours-output profile arises;...

In a new model of work schedules, employers choose the number of working hours and either dictate the exact hours to be worked or delegate that decision to workers via flextime. Workers' preferences over schedules influence their productivities. An inverted-U-shaped hours-output profile arises;...

This paper show analytically that introducing diminishing returns to labor at the firm level into the Diamond-Mortensen-Pissarides model, followed by recalibration, does not change aggregate dynamics of unemployment and vacancies. This invariance result holds for several standard calibration...

This paper show analytically that introducing diminishing returns to labor at the firm level into the Diamond-Mortensen-Pissarides model, followed by recalibration, does not change aggregate dynamics of unemployment and vacancies. This invariance result holds for several standard calibration...

Purpose: This study examines the impacts of health expenditures on infant mortality. Design/methodology/approach: This study is based on a comprehensive panel data of 100 countries (31 developed and 69 developing countries) for 18 years (2000-2017) and, based on the Hausman Test, applies fixed...

Purpose: This study examines the impacts of health expenditures on infant mortality. Design/methodology/approach: This study is based on a comprehensive panel data of 100 countries (31 developed and 69 developing countries) for 18 years (2000-2017) and, based on the Hausman Test, applies fixed...

This work seeks to answer the "population question," i.e. the effect of population growth on production per capita. This question has lingered in economic thought for centuries and to this day two general lines of thought can be identified, which might be marked as the "optimist" and the...

This work seeks to answer the "population question," i.e. the effect of population growth on production per capita. This question has lingered in economic thought for centuries and to this day two general lines of thought can be identified, which might be marked as the "optimist" and the...

Current measures of fiscal impoverishment and gains are not consistent with the law of diminishing returns. This paper proposes new measures of fiscal impoverishment and gains that are consistent with the law of diminishing returns, based on a methodology that gives more significance to greater...

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...

A key advantage of online advertising over offline is that online advertising can, with sufficient data, be far more accurately targeted than traditional advertising. But how much data is enough? The empirical literature tends to suggest that there are indeed economies of scale in using data for...

A basic assumption in the economic literature is the one of diminishing marginal returns to labour. However, theoretical studies on knowledge and labour specialization assume that an increase in the knowledge investment embodied in the human capital of workers raises the marginal product of...

This paper shows that having access to a fast Internet connection is an important determinant of capitalization effects in property markets. Our empirical strategy combines a boundary discontinuity design with controls for time-invariant effects and arbitrary macro-economic shocks at a very...

This paper shows that having access to a fast Internet connection is an important determinant of capitalization effects in property markets. Our empirical strategy combines a boundary discontinuity design with controls for time-invariant effects and arbitrary macro-economic shocks at a very...

People differ in their ability to produce health investments and in their capacity to benefit from such efforts. In this paper, we assume (1) that the individual’s health-investment production function exhibits diminishing returns to scale and (2) that the individual’s capacity to benefit...

This paper shows that having access to a fast Internet connection is an important determinant of capitalization effects in property markets. We combine microdata on property prices in England between 1995 and 2010 with local availability of Internet broadband connections. Rich variation in...

Diminishing Returns at Work focuses on working hours - in the past and in the present, in America and in Britain. John Pencavel illustrates the proportional relationship between hours of work and outcomes such as production and health. Increases in hours of work are shown to result in smaller...

"The book concerns working hours - in the past and in the present, in America and in Britain. The focus is on the relation between hours of work and outcomes such as production and health. Proportional increases in hours of work are shown to result in smaller proportional increases in production...

Heuristic decision-making models, like Take-the-best, rely on environmental regularities. They conduct a limited search, and ignore available information, by assuming there is structure in the decision-making environment. Take-the-best relies on at least two regularities: DIMINISHING RETURNS,...

This paper shows that donors that maximize relative aid impact spread their budgets across many recipient countries in a unique Nash equilibrium, explaining aid fragmentation. This equilibrium may be inefficient even without fixed costs, and the inefficiency increases in the equality of donors...

Thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus are investigated using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of financial...

As strategies for achieving sustainable growth in developing countries are re-examined in light of the financial crisis, it is critical to take into account structural change and its corollary, industrial upgrading. Economic literature has devoted a great deal of attention to the analysis of...

This study employs both linear and non-linear approaches to examine tax audit productivity in New York State. The linear approach shows a positive relationship between audit revenue and the number of audit staff within the New York State Department of Taxation and Finance’s Audit Division....

This paper estimates the impact of public capital on economic growth for forty-eight OECD and non-OECD countries during 1960 - 2001. Using the production function and its extensions, it finds a positive - but concave - elasticity of output with respect to public capital, which is robust to...

Paper aims sustaining the necessity of adapting studying criteria to the analysed matter and to the times: to the knowledge based economy. It tries to be a proposal to look for profound causes of economic activity results. Methodologically, paper replaces earn marking by the criterion of the...

The Turkish economy is typically characterized as having particularly high real interest rates. Fundamental considerations, such as high growth rates or high returns to capital, do not provide a satisfactory resolution of this puzzle. Instead, we find that two other factors- doubts about the...

This paper assesses the link between public investment and economic growth in Burkina Faso. It also evaluates Burkina Faso's external competitiveness by using a comparison of REER to its equilibrium levels and a survey-based assessment of overall competitiveness. The report attempts to quantify...

The way out of the quagmire, he argued, was for econometricians to explore larger regions of "specification space," systematically analyzing the relationship between assumptions and conclusions. Their evidence: the statistical significance in crosscountry panel growth regressions of an...

Aid is primarily given to governments whereas the engine of sustained growth is the private sector. It is therefore illusory to investigate the impact of aid on growth without considering the impact of government interventions on the private sector. The model shows how these interventions...