Models of fishing behavior rarely incorporate the complexities of marine ecosystems,multiple-stock harvest technologies, and regulations present in real world marinefisheries. We introduce a structural model of a multi-species, weak-output-disposabilityharvest technology. A latent...

Much of Africa has been ravaged by the AIDS epidemic. There, heterosexual contactis the primary mode of transmission for the HIV virus. Even when access to condomsis good and their price low, a large fraction of young Africans continue to engage inunprotected sex. In this paper, we propose a...

Caplin & Leahy (1996) show that, when central bankers learn about theeconomy by observing its response to policy shock, cautious monetary policymay be ineffectual as private agents correctly anticipate that today's interestrate cuts are likely to be followed by future cuts. The central banker...

This paper presents evidence on the impact of individual as well as regionalcharacteristics on changes in fat, protein, alcohol and cigarette consumption, and on diet’sdiversity between 1994 and 2004. The results from a dynamic econometric model suggestthat among individual determinants such...

In an overlapping generations model, momentary equilibria are defined as points that lieon the intergenerational offer curve, i.e., they satisfy agents’ optimality conditions and marketclearing at any date. However, some dynamic sequences commencing from such points may notbe considered valid...

Rejuveniles are "grown-ups who cultivate juvenile tastes in products and entertain-ment". In this note, we study a standard AK growth model of overlapping gener-ations populated by rejuveniles. For our purposes, rejuveniles are old agents whoderive utility from "keeping up" their consumption...