Direct measurement techniques have recently been employed by some statistical agencies for the government output components in the SNA. These methods use proxies and indictator for outputs due to the inherent lack of market valuations. This article investigates the pros and cons of these new approaches and compares them with the traditional input method. This leads us to take a deeper look at t...

This paper provides a non-technical review of the evidence on the returns to education and training for the individual, the firm and the economy at large. It begins by reviewing the empirical work that has attempted to estimate the true causal effect of education and training on individual earnings, focusing on the recent literature that has attempted to control for potential biases in the esti...

factor demand behavior such as energy demand has an important role in the economic analysis. this issue is a major concern in the developing countries (e.g. iran) which are benefited from vast energy resources. in this paper, the third generation of factor demand models is used to analyze the behavior of capital adjustment in the iranian manufacturing industries. the dataset covers the two-digi...

We develop a model of retirement and human capital investment to study the effects of tax and retirement policies. Workers choose the supply of raw labor (career length) and also the human capital embodied in their labor. Our model explains a significant fraction of the US-Europe difference in schooling and retirement. The model predicts that reforms of the European retirement policies modeled ...

in recent decades, foreign direct investment (fdi) has played a vital role in economic growth of developed and developing countries. fdi brings new capital and technology to the host country beside a possibility of spillover to local firms. hence, fdi is considered as an important channel of technology transfer. however, in empirical studies, the size and direction of effects of fdi on producti...

This study explores the impact of social capital on innovation by constructing a more general measure of social capital indicator consisting of generalized and institutional trust, associational activities and civic norms. We test the hypothesis that social capital has a positive impact on innovation at the national level. After controlling for R&D expenditure and human capital there is a posit...

Output per worker varies enormously across countries. Why? On an accounting basis, our analysis shows that differences in physical capital and educational attainment can only partially explain the variation in output per worker — we find a large amount of variation in the level of the Solow residual across countries. At a deeper level, we document that the differences in capital accumulation, p...