Under the assumption that asset markets are incomplete, this paper introduces bankruptcy in an intertemporal heterogenous agent model with capital accumulation and heterogeneous agents. It explores the role of regulatory intervention and argues that intervention in the form of a level of...

The 'right to housing' in France implies that disadvantaged people suffering poverty or housing difficulty enjoy priority access to social housing. However, the disadvantaged in fact have serious difficulty obtaining access to social housing in France. In this article, insider-outsider theory...

The 'right to housing' in France implies that disadvantaged people suffering poverty or housing difficulty enjoy priority access to social housing. However, the disadvantaged in fact have serious difficulty obtaining access to social housing in France. In this article, insider-outsider theory...

This paper uses a dynamic general equilibrium model calibrated to Ugandan data to examine the welfare effects of alternative scenarios of government expenditure and tax financing. Two expenditure types are considered: social spending that affects human capital, and infrastructure expenditures...

This paper deals with efficiency in the public sector. It argues that the habit of relating efficiency to public spending, as is generally done, may give wrong results when, as is often the case, public institutions use public assets (land, buildings, etc.) without imputing a cost for that use....