The present paper describes recent research on two central themes of Keynes' General Theory: (i) the social waste associated with recessions, and (ii) the effectiveness of fiscal policy as a stabilization tool. The paper also discusses some evidence on the extent to which fiscal policy has been...

Social housing allocation systems have often been identified as contributing to the socio-economic polarization of neighbourhoods. Part of this argument has rested on a contention that - notwithstanding the impartial operation of 'needs-based' approaches - there is an inevitable tendency for the...

Asia’s core attraction to global asset allocators is that there are some world class managers who typically still have capacity. Cyclically, renewed investment interest in Asia and resulting liquidity flows are rapidly increasing demand and to a certain extent, supply. The industry achieved...

Social housing allocation systems have often been identified as contributing to the socio-economic polarization of neighbourhoods. Part of this argument has rested on a contention that - notwithstanding the impartial operation of 'needs-based' approaches - there is an inevitable tendency for the...

This paper examines the combined effects of changes in prices, income and demographic composition on adult and young, male and female members of households. The recently developed Quadratic Almost Ideal Demand System (QUAIDS) is used since a demand system provides a unified framework for...

We consider a probabilistic approach to the problem of assigning k indivisible identical objects to a set of agents with single-peaked preferences. Using the ordinal extension of preferences we characterize the class of uniform probabilistic rules by Pareto efficiency, strategy-proofness, and...

In this paper we propose to analyze the economic problem of allocating tasks on time in order to finish a complex project when information about tasks' duration and predating sequences of tasks is privately owned by the agents that undertake each task. In order to achieve the efficient...