This paper analyses whether the first-best level of public inputs exceeds the second-best level. On the basis of a simple model, we argue that the level of productivity-enhancing public expenditures ...

The law of diminishing returns is a concept of economics that every entrepreneur should understand. Also known as the law of diminishing marginal returns, this law helps entrepreneurs and economists ...

This paper extends the framework derived by Jeanne and Rancière (2006) by explicitly incorporating the dollarization of bank deposits into the analysis of the optimal level of foreign reserves for ...

Supersaturated design (SSD) has received much recent interest because of its potential in factor screening experiments. In this paper, we provide equivalent conditions for two columns to be fully ...