In this paper we consider a model of oligopolistic competition where firms make a two-dimensional product line decision. They choose a location in style space, thus, inducing horizontal differentiation, and produce different qualities (a product line) of a given good (vertical differentiation),...

In this paper I develop an empirical framework to estimate the role of agglomeration externalities, especially those stemming from input-output linkages, in the location process of US manufacturing plants. Furthermore, drawing on the model of Holmesand Stevens (2004b), I propose a way to...

It has recently been shown that the firm size distribution is initially skewed to the right and then evolves over time to become more lognormal, and argued that this is likely due to firms initially facing financial constraints, see Cabral and Mata (2003). We conjecture that, it this is true,...

We study further a problem that has arisen recently in the design of telecommunications transmission networks at France Telecom. Given a set of centers in a city of conglomeration linked together on a ring architecture, given the expected demands between the centers and an essentially unlimited...

Our object of study is a multiclass queueing network (MQNET) which consists of a collection of (connected) single server stations. Exogenous arrivals into the system from independant poisson streams, service times are exponential and we have Markovian routing of customers between stations.

With the current sovereign debt crisis, the incompleteness of economic integration in the Economic and Monetary Union (EMU) has become patent leading to an intense debate among academics and policy makers. Most of the debate focuses on the needs to strengthen fiscal rules and to restore fiscal...

There have been many criticisms of Barro's theorem on Ricardian equivalence, but these criticisms apply mainly to a "special form" of Barro's model and there are different possible interpretations of this model. We study another very simple model in which altruism is limited. The effects of...

This paper proposes a simple OLG model which is consistent with the essential facts about consumer behavior, capital accumulation and wealth distribution, and yields some new and surprising conclusions about fiscal policy. By considering a society in which individuals are distinguished according...

This paper outlines a 15-year program for implementing the 2015 Human Development targets while resolving fully the debt overhang problem for a set of 49 poor countries. The proposal requires additional contributions from 23 rich countries amounting to 0.1 of 1% of their GDP over each of the 15...

This paper establishes, in the context of the Diamond (1965) overlapping generations economy with production, that the risk that savings in unbacked assets (like fiat money or public debt) become worthless implies that, not only the first-best steady state, but even the best steady state...