This paper examines alternative approaches to wage subsidy programmes. It does this in the context of a recent active labour market reform for the young unemployed in Britain. This “New Deal” reform and the characteristics of the target group are examined in detail. We discuss theoretical...

We study the problem of minimal initial capital needed in order to hedge a European contengent claim without risk. The financial market presents incompleteness arising from two sources: stochastic volatility and portfolio constraints described by a closed convex set. In contrast with previous...

In this paper, we define and study a new class of optimal stochastic control problems which is closely related to the theory of Backward SDE's and forward-backward SDE's. The controlled process takes values in RXR and a given initial data for X(O). Then, the control problem is to find the...

A partir de su visita a las aulas, los autores ofrecen elementos útiles para analizar qué ocurre en diversas áreas de este ámbito educativo peruano. ¿Cómo adquieren sentido los discursos sobre la historia del Perú según el contexto institucional en el que se dictan? ¿De qué manera...