This paper considers an overlapping generations model of economic growth populated by two types of individuals. Competitive types compare future consumption (i.e. wealth) with the mean. Self-sufficient types derive utility simply from their own consumption and do not compare themselves with others. I derive a condition under which the utility (happiness) of both types increases when the economy...

The study analyzed differences in the risk of experiencing stressful life events (SLE) according to cultural factors, the level of economic development of the region inhabited, and gender. Information was gathered on the number and nature of SLE experienced by a sample of 604 undergraduates from 3 regions with very different levels of economic development: Madrid (Spain), León (Nicaragua), and ...

There is convergence of opinion that stimulating broad-based economic growth from productive-sector activity is a priority in the next phase of Vanuatu’s development. A recent study commissioned jointly by AusAID and NZAID examined some of the issues and options in supporting this objective. While the report (Bazeley and Mullen 2006) also discusses theoretical aspects of achieving equitable gro...

The institutional structure of an economy is modeled as a portfolio. This model predicts that a sample of countries with highly diversi ed institutional structures should have a lower variance of economic growth rates than a sample of countries with homogeneous institutional structures. It also predicts that growth rates over time for individual countries with highly diversi ed institutional st...

This paper reviews the main studies on entrepreneurship conducted during the past two decades that are relevant for the understanding of various macroeconomic issues. I organize the discussion by distinguishing three groups of contributions. The first group includes studies whose main purpose is to understand the factors that affect the decision to become an entrepreneur. The second group inclu...

Increasing levels of global trade and intercontinental travel have been cited as the major causes of biological invasion. However, indirect factors such as economic development that affect the intensity of invasion have not been quantitatively explored. Herein, using principal factor analysis, we investigated the relationship between biological invasion and economic development together with cl...

As discussed earlier, there are no commonly accepted approaches of assessing the contribution of a given sector such as commercial aquaculture, to economic growth. Using previous studies, such as the one conducted by Timmer (1992), as a foundation, this chapter attempts to develop a framework for measuring this impact for commercial aquaculture. The assessment framework is developed in two step...

Results: This paper finds that a combination of immediately delayed retirement and accumulated pension system should be implemented if based on the goal of maximizing output, while a combination of undelayed retirement and accumulated pension system should be implemented if based on the goal of maximizing utility. Certainly, with using efficiency of elements unchanged, with the decrease of work...