This paper estimates the longer-term effects of childhood conduct disorder on human capital accumulation and violent and criminal behavior later in life using data of Australian twins. We measure conduct disorder with a rich set of indicators based on diagnostic criteria from psychiatry. Using ordinary least squares and twin fixed effects estimation approaches, we find that early-age (pre-18) c...

One of the greatest difficulties facing a stock trader or investment manager is the stock selection process. In this process, the investor is faced with a large number of competing investments, and a fixed amount of capital. The goal is to spread the available capital across a reduced subset of the competing investments, with the aim of increasing the return. Typically, the investor relies on o...

The increase in equity prices over the 1990s has to a large degree been attributed to permanently higher productivity growth that is derived from the ‘new economy’ and related research and development (R&D) expenditures. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions, productivity advances can only h...

This paper tries to estimate the capital investment required for the fixed-telephony network switching equipment as demanded by the fourth national development plan. As a first step, the Cobb-Douglas model is used as a successful demand forecasting model to estimate the demand over the target years. Then, an architectural plan is developed for the fixed-telephony switching network that takes in...

A number of recent studies have attempted to identify the determinants of government size. It is well known that the size of government has implications for welfare and economic growth. This paper shows that the size of the fixed cost involving public good provision affects the magnitude of capital inflow induced changes in government size and welfare. By making use of a simulation exercise, it...

The rollout of new fixed network infrastructures requires significant capital investments and often a long payback period. To increase the net present value and to limit capital requirements a good rollout strategy is crucial. Cherry picking techniques will select the best areas, based on cost efficiency and highest average return per user, and will only install the new network technology in th...

THIS ISSUE of Brookings Papers on Economic Activity contains papers and discussions presented at the forty-first conference of the Brookings Panel on Economic Activity, which was held in Washington, D.C., on April 3 and 4, 1986. Three major articles cover, respectively, the role of liquidity constraints in tax policy analysis, the perplexing relationship between short-term and long-term interes...

Many studies find a strong negative association between crime and education. This raises the question whether crime reduces investment in human capital or whether education reduces criminal activity. This article investigates posed question by using fixed-effect estimation on data of Australian twins. We find early arrests (before the age of 18) both to have a strong effect on human capital acc...

This paper examines the role of information and communication technology (ICT) in enhancing the well-being of nations. Extending research on the role of ICT in the productivity of nations, we posit that the effects of ICT may not be limited to productivity (e.g., GDP), and we argue that the use of ICT can also improve the well-being of a country by helping citizens to develop their social capit...

The aim of the paper is to critically review the notion of social capital and review empirical literature on the association between social capital and health across countries. The methodology used for the review includes a systematic search on electronic databases for peer-reviewed published literature. We categorize studies according to level of analysis (single and multilevel) and examine wh...