In this paper a particular market failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention are analysed. The friction which is investigated is related to the ownership of children. If parents have no claim on their children’s...

In this paper, we analyze the extent to which market forces create an incentive for cloning human beings. We show that a market for cloning arises if a large enough fraction of the clone’s income can be appropriated by its model. Only people with the highest ability are cloned, while...

In this paper debt policy in a two-period, two-sector overlapping generations model with Leontief technologies has been analysed. It has been found that debt, issued to transfer resources to the initially old, could be welfare improving in the new steady state for an economy which satisfies the...

This study attempts to highlight the importance of hydrological information to the user communities from a socio-economic perspective. It shows, based on the evidence, how groundwater is depleting along with increasing dependence over the years across the regions of Andhra Pradesh. [WP No. 92]....

In this study the analytical framework for identifying and benchmarking systemically important financial institutions is discussed. First, the main concepts underlying the SIFI definition are laid out. Next, the methodologies used for measuring systemic importance in academia and for policy...

Clusters are groups of firms, related actors, and institutions that are located near one another and that draw productive advantage from their mutual proximity and connections. This paper studies the ways of managing white spaces to make a cluster innovative....