economy against expectation-driven business cycles. Eliminating “local” sunspots that are arbitrarily close to an … cycles (and the associated “global” sunspots) that are located close to a determinate steady state. Our results are … rule out local indeterminacy. On the contrary, progressive fiscal rules should be applied to capital income in an …

eigenvectors related to stable eigenvalues. A finite set of equilibria is a substitute to continuous (uncountable) sets of sunspots …

linkbetween contributions and benefits has an impact on the level of capital per capita if and only if there are inequalities of …

This empirical analysis aims at assessing the effect of the economic climate and the intensity of capital utilisation … on companies' capital retirement behaviour. It is conducted using individual company data, as well as original data on … database is, to our knowledge, unique for the empirical analysis of the intensity of capital utilisation on firms' capital …

This note shows that, with pre-set price and capital decisions of firms facing uncertainty and financial market … imperfections, price, mark up and the expected degree of capacity utilization (resp. capital) decreases (resp. increases) with the …