Why do large firms choose to compete with a cartel rather than to cooperate? Bos and Harrington (2010) explained why small firms do not join in a cartel by introducing heterogeneous firms. But it is still unclear why large firms do not join in a cartel. This paper shows a possibility that only mid-level productive firms benefit from joining a cartel by considering endogenous choices of firm-pro...

This research examines changes in word retrieval and naming during a developmental period in which there is a substantial increase in productive vocabulary. That increase generally occurs when children have between 50 to 150 words in productive vocabulary. We examined children's naming errors in two studies for what these errors could tell us about the emerging lexicon. The method we used for e...

Due to the depletion of fossil fuels, empirics began looking at factors that might encourage investment in renewable energy. Socioeconomic productivity can energy development by encouraging authorities, businesses, and families rely more on sources. Therefore, this analysis is first-ever effort detect impact socioeconomic development. We have used panel ARDL QARDL examine estimates. The results...

Policymakers and economic analysts have recently been concerned about potential inflationary pressures in the U.S. economy. Various economic statistics show the amount of unused productive resources has been diminishing. For example, the civilian unemployment rate has decreased and the capacity utilization rate of the nation’s factories has risen. If real output grows rapidly in the future, the...

This paper analyses the growth of employment in China during the post reform period. It argues that the Chinese experience with export-led growth provides an excellent example of the phenomenon of a vent for surplus productive capacity provided by exports, identified by Adam Smith in the Wealth of Nations and elaborated by Hla Myint. The paper extends the Smith-Myint model of ‘vent-for-surplus’...