The optimal transition to a low-carbon economy must account for adjustment costs in switching from dirty to clean …

The mathematical framework of psychological game theory is useful for describing many forms of motivation where …, and self-esteem in economic analysis. We explain how and why, discussing basic theory, experiments, applied work, and …

adjustment of the contract payment, involving adjustment costs for both players. Players? payoffs from trade under the contract … whenever the contract payment relative to the outcome of an adjustment passes a certain threshold, depending among other things … of the adjustment costs. There is strategic substitutability in the choice of thresholds, so that if one player becomes …

This study investigates whether exchange rate flexibility aids real exchange rate adjustment based on intra-period data … produces faster or slower real exchange rate adjustment than the much less flexible official rate does. Half-life estimates of … adjustment speeds are obtained using fractional time series analysis. We find no systematic evidence that greater exchange rate …