In this paper we study the dynamic general equilibrium path of an economy and the associated optimal growth path in a two-sector overlapping generation model with a stock pollutant. A sector (power generation) is polluting, and the other (final good) is not. Pollution is regulated by tradable...

We study comparative statics of Nth-degree risk increases within a large class of problems that involve bidimensional payoffs and additive or multiplicative risks. We establish necessary and sufficient conditions for unambiguous impact of Nth-degree risk increases on optimal decision making. We...

The goal of our research is to gain a better understanding of organizational death, by looking at it as a process. This topic of research, with such an apprroach, is not very common in the litterature. The topic of organizational decline has received very little attention from researchers in...

This paper explores the conditions under which anti-corruption initiatives are launched in Bulgaria and their impact on local practices. An examination of the Toplofikacija affair suggests that efforts to curb illegal practices need to be understood as being at the intersection of several actors...

This article aims at studying the impact of return on education on criminal behaviour. A dynamic model of time allocation between investment in human capital, labour and criminal activity is developed, assuming that these activities are substitutable and endogenous. Our attention focuses on the...