firms' investment decisions. We characterize the conditions under which fire sales occur in equilibrium and their …

This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish …

We study the welfare properties of a general equilibrium banking model with moral hazard that encompasses incentive … mechanisms for bank risk-taking studied in a large partial equilibrium literature. We show that competitive equilibriums maximize …

This paper is the first application of the singular value decomposition in general equilibrium theory. Every technology …

-17% interquartile differences in TFP. These estimates imply that in general equilibrium, homogenization of labor markets would lead to a …

model. Existence of general equilibrium and validity of the first welfare theorem are investigated …

This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence …

We integrate individual power in groups into general equilibrium models. The relationship between group formation … paradoxes: positive externalities increase, but none of the household members gains in equilibrium. We further identify implicit …

-17% interquartile differences in TFP. These estimates imply that in general equilibrium, homogenization of labor markets would lead to a …

This paper employs a general equilibrium model of imperfect competition and trade in which capital is used to establish …