Process Improvement has been used for decades as a means to become better and more efficient. Whilst many organizations have used considerable resources for process improvement, investments in process improvement have not always led to changes and improvements expected. One most important aspects of management is to motivate the work force. However, management often fails to deliver. In fact, b...

This paper surveys the research in the past decade on imperfect information models of aggregate supply and the Phillips curve. This new work has emphasized that information is dispersed and disseminates slowly across a population of agents who strategically interact in their use of information. We discuss the foundations on which models of aggregate supply rest, as well as the micro...

We construct a general equilibrium model of urban unemployment with a continuum of heterogeneous urban firms producing differentiated products in a monopolistic competitive market. We show that an increase in urban institutionally fixed minimum wage reduces urban aggregate output and each urban firm will experience an output cut proportional to the change in aggregate output. However, such prop...

Business cycle theories based on incomplete information start from the premise that key economic decisions on pricing, investment or production are often made on the basis of incomplete knowledge of constantly changing aggregate economic conditions. As a result, decisions tend to respond slowly to changes in economic fundamentals, and small or temporary economic shocks may have large and long-l...

INTRODUCTION There are analytic challenges involved with estimating the aggregate burden of multiple risk factors (RFs) in a population. We describe a methodology to account for overlapping RFs in some sub-populations, a phenomenon that leads to "double-counting" the diseases and economic burden generated by those factors. METHODS Our method uses an efficient approach to accurately analyze th...

We develop a Systems Dynamics model for capturing the key interactions involved in the evolution of the subprime mortgage crisis. In particular, we propose an aggregate modeling resolution that involves three main sub-systems, namely, an aggregate banking system, an aggregate housing market and an economic environment. The model exposes the physics of each individual system as well as influence...

This paper studies the conditions under which the scarcity of a factor (in particular, labor) encourages technological progress and technology adoption. In standard endogenous growth models, which feature a strong scale e¤ect, an increase in the supply of labor encourages technological progress. In contrast, the famous Habakkuk hypothesis in economic history claims that technological progress w...