It is well known in the economic literature that labour supply curve can bend backwards and, therefore, leisure be a Giffen good. also normal This article proves if good, it has to result that, contrary common knowledge economics, not all goods, are inferior goods. These results could taken into account, for example, when finding empirical evidence and designing policies on supply, an era of ma...

This paper proposes a theory of optimal public expenditure when unemployment is inefficient. The theory is based on a matching model. Optimal public expenditure deviates from the Samuelson rule to reduce the unemployment gap (the gap between the current and efficient rates of unemployment). Such optimal “stimulus spending” is described by a formula expressed with estimable sufficient statistics...

The primary purpose of government is to secure public goods that cannot be achieved by free markets. The Coordination Principle tells us to consolidate sovereign power in a single institution to overcome collective action problems that otherwise prevent secure provision of the relevant public goods. There are several public goods that require such coordination at the global level, chief among t...

This study assessed the productivity and performance of the barangays in the Heritage City of Vigan in terms of the barangays’ resource requirements, management of resources, produced goods and services, and outcomes of service delivery. The descriptive research design was used in the study employing the input-process-output-outcomes model. Findings of this study showed that the barangays were ...

We use a general equilibrium model to address the question whether a regulatory emission standard or an emission tax yields higher societal welfare for any given target on aggregate emission. The key feature of the model is that the plants are heterogeneous in productivity and monopolistically competitive in the production of dirty-goods whose by-product is emission. We …nd that the standard yi...

The Wholesale Trade sector comprises establishments en­ gaged in wholesaling merchandise, generally without transfor­ mation, and rendering services incidental to the sale of merchandise. The wholesaling process is an intermediate step in the distribution of merchandise. Wholesalers are organized to sell or arrange the purchase or sale of (1) goods for resale (i.e., goods sold to other wholesal...

During the last decade, virtual goods have become an important target of consumption online (especially in games, virtual worlds and social networking services) amongst physical and digital goods. In this study we investigate the question of why do people purchase virtual goods by conducting a metaanalysis (random effects model) of the existing quantitative body of literature (24 studies) on th...

This paper investigates determinants that influence on consumers’ attitudes toward nondeceptive counterfeit fashion products and behavioral intention to purchase them. The results show that brand image, social influence and previous experiences have a positive impact on consumers’ attitudes toward counterfeit fashion products. Meanwhile, personal gratification has a negative effect on counterfe...

This review of recent contributions reveals common conclusions about the effects of integration on location. For high trade costs, the need to supply markets locally encourages firms to spread across different regions. Integration weakens the incentives for self-sufficiency and for intermediate values of trade costs pecuniary externalities induce firms and workers to cluster together, turning l...