Safety at what price?

Article Abstract:

Risks of injury, sickness and death can be controlled by market choices that are defined by personal prices for safety. This analogy is applied in the labor market, where a wage-risk relationship sets higher compensation for riskier jobs. Such a relationship generates an efficient and competitive market, where resources are properly allocated to counter risk opportunities. However, control over resource allocation for risk control must be balanced with economic development.

Risk assessment, Resource allocation

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Growth accounting when technical change is embodied in capital

Article Abstract:

The embodiment hypothesis states that technological advancement is mainly the result of the enhancement in the design of new capital. The theory of the embodiment hypothesis is extended to make it more relevant for describing how embodied technical change affects economic growth. The results indicate that embodied technical change is responsible for about 20% of the residual increase in quality-adjusted output.

Economic aspects, Technological innovations, Capital

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A sensitivity analysis of cross-country growth regressions

Article Abstract:

Cross-country regressions are used to find empirical relationships between long-term rates of growth and various economic, institutional and political indicators. The accuracy of the conclusions drawn from cross-country growth regressions was studied. The research indicated that nearly all of the results were fragile to minor fluctuations in the conditioning information set.

Evaluation, Regression analysis

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