The usual procedure in the field of optimal growth consists in maximizing a (discounted or not) sum of instantaneous utilities, called welfare. Such an optimality criterion implies that preferences are independent over time. Following in the tradition of Irwing Fisher, Koopmans presented an...

In the field of optimal growth theory, since Ramsey's time it is frequent to maximize a welfare function consisting of the discounted sum of instantaneous utilities. Such an optimality criterion implies that preferences are independent over time. Following in the tradition of Irwing Fisher,...

A series of results, related to Sonnenschein's conjecture that Walras' Law is the only significant restriction microeconomic theory imposes on community demand and excess demand functions are surveyed and extended. These results have important implications for general equilibrium theory, both in...

El debate entre impuestos directos versus impuestos indirectos se resolvió en la década de los años cincuenta, haciendo notar que la existencia de bienes no susceptibles de ser gravados destruye la presunción teórica que los impuestos directos son preferibles, desde el punto de vista de la...

Durante la segunda mitad de la década de los años 70, algunos países de América Latina (Argentina, Chile, Uruguay) adoptaron un régimen cambiario que consiste en mantener el tipo de cambio fijo -aunque no constante en el tiempo- e independiente del comportamiento de otras variables...