call statecharts, extend conventional state-transition diagrams with essentially three olements, dealing, respectively, with the notions of hierarchy, concurrency and communication. These transform the language of state diagrams into a highly structured' and economical description language

This paper estimates the NAIRU (standing for the non-accelerating Inflation Rate of unemployment) as a parameter that varies over time. The NAIRU is the unemployment rate that is consistent with a constant rate of inflation. Its value is determined in an econometric model in which the inflation

Proponents of the theory of specialization and exchange hypothesize that in any national con-text, women’s higher economic standing will de-crease their chance of marriage. Some re-searchers suggest, however, that only in industrialized countries with a high degree of role differentiation by gender

This essay offers a rational political explanation for the notorious inefficiency of pork barrel projects with an optimization model of legislative behavior and legislative institutions. The model em-phasizes the (economically arbitrary, from a welfare point of view) importance of the geographic

comments from the two anonymous referees. 2 Using the Indonesia Family Life Survey data, this paper is the first of its kind to explore empirically whether rank-position within one’s community matters to individual perception of where he or she stands on the self-defined economic ladder

F or good reasons, economists have had a long-standing preference for studying peoples' revealed preferences; that is, looking at individuals' actual choices and decisions rather than their stated intentions or subjective reports of likes and dislikes. Yet people often make choices

The financial in India has shown tremendous growth in terms of volume and complexity during the last few decades, especially after economic reforms. The services of banks, post offices, net banking and mobile banking have expanded to great extent. Modern technology has played it role

Recent research on wealth and household finances seeks to blend neoclassical models with an understanding of real-world imperfections to answer questions about why some people save and others do not. This paper focuses on Baby Boomers standing on the verge of retirement, many of whom have saved

We conduct a systematic empirical study of cross-sectional inequality in the United States, integrating data from the Current Population Survey, the Panel Study of Income Dynamics, the Consumer Expenditure Survey, and the Survey of Consumer Finances. In order to understand how different dimensions of inequality are related via choices, markets, and institutions, we follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. We document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Finally, access to financial markets has limited both the level and growth of consumption inequality.

that can conceptualize the different effects of rewards on behavior. The scientific investigation of behavioral processes by animal learning theory and economic utility theory has produced a theoretical framework that can help to elucidate the neural correlates for reward functions in learning, goal