Abstract We study models of the formation of citation networks in a setting where authors/firms care about their citations and are rational. The effect of these two features on the diffusion of useful ideas in a setting with complete information about past citations leads to multiplicity of...

The problem of expectations in economic models is reviewed through the intellectual development of the author. Initial efforts at macroeconomic modeling such as Foley-Sidrauski (Foley and Sidrauski 1971) treated expectations as conditioning variables for representative agent stock demands and...

Many regions, e.g. countries, have developed energy-economy models (such as MARKAL-MACRO, MM) to assess their energy policies, in particular concerning the curbing of their carbon dioxide CO<SUB align="right"><SMALL>2</SMALL></SUB>) emissions. To integrate regional MM models, we propose a multiregional MARKAL-MACRO (mMM) model. It...</small></sub>

Purpose – The purpose of this paper is to construct an econometric model of the determinants of private investment with a particular focus on the impact of democracy on investment. Design/methodology/approach – The first step was to econometrically derive the long-run elasticities; then to...

We consider a market economy that is composed of separate regions, each endowed with linear supply and demand curves and represented as a point on a transportation network. The problem addressed is to determine an equilibrium price in each region so that regional price differences do not exceed...

Purpose – The purpose of this paper is to develop a model of international capital market equilibrium where investors exhibit home-country bias due to their desire to hedge real consumption. Design/methodology/approach – This paper posits a two-stage process of portfolio choice for the...