Abstract This paper establishes the conditions under which indeterminacy can occur in a Neoclassical growth model with international labor mobility. In model, workers are supposed to move freely across countries without restrictions, and according Harris–Todaro mechanism that makes migration flows sensitive differences among markets conditions. The shows requires marginal returns immigrant be d...

This paper investigates the shareholder wealth impact of government investment in listed companies (and by extension, subsidisation those companies), using data from Malaysia. We distinguish two overlapping categories government-related investors: whose principal mission relates to economic policy and social policy. The methodology entails Ordinary Least Squares regressions. There are dependent...

this paper represents a theoretical model from which the supply function for a durable goods is derived. it turns out that consumer at the equilibrium condition equates its user cost with the marginal value of services received by using an additional unit of durable goods. the stock price is obtained from this condition. in addition, at the equilbrium condition for producer, the stock price is ...

This paper estimates the marginal returns to college for individuals induced to enroll in college by different marginal policy changes. The recent instrumental variables literature seeks to estimate this parameter, but in general it does so only under strong assumptions that are tested and found wanting. We show how to utilize economic theory and local instrumental variables estimators to estim...

Human attitude towards risk is mixed. However, looking at the persuasive argument of diminishing marginal utility of wealth, academia has adopted risk aversion as the norm. Inculcating risk aversion, expected utility hypothesis (EUH) is used to rank risky options. ‘Allais paradox’ contradicted EUH but promoted the conviction of risk aversion intuitively on the basis of certainty effect. Most of...

due to contiguous city of ravar with lut and dasht-e kavir desert, and weather conditions, water is one of the rarest agricultural inputs in this city. pistachio allocates 90% of garden and 73% of agricultural lands of the city and it is the most important agricultural product in this region. a major source of agricultural water supply in this area is groundwater. low price of water on one side...

in the market for factors of production usually the equilibrium will be stablished on the based of the equality between the value of marginal products of output and their relative price level. on the other hand the value of marginal product of output is a function of observed rate productivity of output and the market capacity of factors of production. thus the fluctuation in the rate of produc...

Intertemporal choice experiments are increasingly implemented to make inference about discounting and marginal utility, yet little is known the predictive power of resulting measures. This project links standard experimental choices a consumption smoothing decision with large stakes — around 10% annual income. In sample 400 Guatemalan Conditional Cash Transfer recipients, we find that preferenc...