First, a small open economy is analyzed to show that even a complete and competitive market may fail to produce Pareto-efficient outcomes under conditions of changing technology. It is mainly because price- taking agents can make the prices they face by changing their technology or technique of...

The Innovation systems (IS) approach and the system failures it identifies, play an important role in the design and legitimization of innovation policy. This paper analyses the usefulness of this concept. We conclude that the IS-approach can be useful to visualize the complexity of the...

The objective of this paper is to present Hickssian general equilibrium approaches to productivity measurement in the presence of market failure.

This paper incorporates informal sector and efficiency wage relation in a Harris-Todaro econmy under differential production structure. The simultaneous existence of the urban informal sector and the urban unemployment has been explained interms of such efficiency wage relation. Two different...

This paper explores what a critical commentary on micro principles texts might look like, examining what is to be critiqued and how to do it.

This paper incorporates informal sector and efficiency wage relation in a mobile capital H-T(1970) model. The simultaneous existence of the urban informal sector and the urban unemployment has been explained interms of such efficiency wage relation. Two different versions have been considered in...

The purpose of this paper is to examine the Fields (1989) proposition1 in a multi sector general equilibrium model with perfect and imperfect capital mobility2. The effects of different fiscal policies on the equilibrium rate of urban unemployment are also examined here3. The main findings are...

In this paper, I present and discuss a method for modelling an important trade-off faced by terrorism prevention policies: the trade-off between, on the one hand, trying to reduce people's inclination towards terrorism, and, on the other hand, trying to protect society against existing...

Presents a complete and detailed constitutional framework applying the rational self-interest model and market mechanisms to intra and inter- governmental behaviour and collective decisions. In particular, the paper presents an enabling mechanism for the creation, adjustment and dissolution of...

Most opportunistic-type models of political business cycles tend to posit a given objective for incumbents: maximisation of re-election chances. Though taking an opportunistic view too, we suggest a new explanation for a fiscal policy cycle: the incumbent’s concern with her own welfare in...