In this paper, we consider a general equilibrium model in which heterogeneous agents specialize either in legitimate market activities or in criminal activities, and majority rule determines the share of income redistributed and the expenditures devoted to the apprehension of criminals. We calibrate our model to the U.S. economy in 1990, and conduct simulation exercises to evaluate the effectiv...

The rapid development of innovative activity in Ukraine and the instability economic political environment determine relevance studying problems close connection with global local factors growth. purpose research is to study budgetary policy that have a dominant influence on level national development, their impact growth order form directions for innovation based instrumental analysis methods....

Over the past decade, the United States has offered investment incentives in the form of larger depreciation savings, namely, bonus depreciation. The neoclassical investment model implies that investment responds to changes in depreciation savings, but there have been few direct attempts to investigate this implication. This paper examines investment patterns surrounding the 1999 shortening of ...

Expenditures for public social welfare programs in 1988 totaled $885.8 billion, an increase of 6.3 percent over the previous year. That amount was 18.5 percent of the Nation’s output of goods and services, as measured by the gross national product (GNP). The 1988 figures are consistent with the pattern established for such spending in the early 1980’s. The average annual growth rate from 1982 t...

The literature relates human capital costs to firm leverage (Berk, Stanton, and Zechner (2010) and Chemmanur, Cheng, and Zhang (2013)) and mergers and acquisitions (Lee, Mauer, and Xu (2017)). In this paper, we study the relation between a firm’s human capital costs and investment policy. We first present a simple theoretical setting to illustrate the positive effects of risky investment on ave...

in almost all countries around the world (developed as well as developing countries) the public sector economics has been growing very rapidly and caused the share of government expenditures in gdp to rise over time. although in recent years, especially from the end of 1980, for different reasons especially privatization the trend of public sector growth has been slowed, but the factors behindt...

This study investigates the impact of corruption on public and private investment in African countries as a way of exploring one channel through which corruption undermines growth. The empirical results indicate that corruption affects economic growth directly and through its impact on investment. We find that corruption has a negative and significant effect on domestic investment and that corr...

"This paper attempts to describe the nature of Zambia's demographic situation, which eventually led to the formulation of a national population policy; the policy instrument; and some of the measures necessary for the effective implementation of the policy....[The] situation is characterised by three dominant features: a high rate of natural increase, massive urbanisation, and wide variations ...

BACKGROUND: Mental health benefits have traditionally been much less generous than benefits for physical health care, with separate deductibles, higher copayments or coinsurance, and lower limits on covered services, a trend that continues despite a recent wave of 'parity' legislation. In spite of the current policy debates on mental health insurance reforms, little is known about the burden of...