simulation to provide substantial stabilization for the exchange rate while retaining considerable flexibility and robustness in …

Most analyses of the Kyoto flexibility mechanisms focus on the cost effectiveness of "where" flexibility (e.g. by … Annex 1 countries). Less attention has been devoted to "when" flexibility, i.e. to the benefits of allowing emission permit …

flexibility in the firms’ investment decisions. When the government can commit to an export subsidy, it may choose to over- or …

Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection … before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment … after too few noisy signals. The combination of these forces predicts a non-monotonic relationship between flexibility and …

In a Case Law regime Courts have more flexibility than in a Statute Law regime. Since Statutes are inevitably … most economic decisions are already taken. Therefore, the advantage of flexibility for Case Law is unavoidably paired with … pairs the lack of flexibility with the ability to commit in advance to a given (forward looking) rule. This solves the time …