Theoretical study identifying one modality with conditions necesary for the financial stabilization of an inherently unstable system; and 5040 other unstable dynamic modes. It draws on knowledge made available by the academic field of Control Engineering.

Many empirical studies have found that interest rate increases have a positive effect on the price level. This paper pursues an obvious, but neglected explanation: interest payments are a cost of production that is at least in part passed on to customers. A model shows that the cost- push effect...

Painkilling drugs produce a good called relief which reduces the fixed level of bad (pain) the individual is endowed with. These drugs have the side-effect of reducing the utility the individual gets from consuming goods. This means that the shadow price of relief counts not only the cost of...

The income contribution of child work is undoubtedly a key factor influencing child work and schooling decisions. Yet, few studies have attempted to directly measure this contribution. This is particularly the case for work performed on the household farm, as is the case for the vast majority of...

According to New Home Economics, valuations of household production based on opportunity cost and market price methods should produce similar estimates. Data from the National Survey of Family and Households are used to assess the extent to which the opportunity cost and market price methods of...

The income contribution of child work is undoubtedly a key factor influencing child work and schooling decisions. Yet, few studies have attempted to directly measure this contribution. This is particularly the case for work performed on the household farm, as is the case for the vast majority of...

In this paper we establish a link between the volatility of oil price shocks and a positive expected value of inflation in equilibrium (inflation premium). In doing so, we implement the perturbation method to solve up to second order a benchmark New Keynesian model with oil price shocks. In...

In the debate on monetary policy strategies on both sides of the Atlantic, it is now almost a commonplace to contrast the Fed and the ECB by pointing out the former’s flexibility and capacity to adjust rigidity, and the latter’s extreme caution, and obsession with low inflation. In looking...

This paper revisits Keynes’s liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory’s ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical “special...