We address the optimal timing of investment in gas pipelines when the demand for gas is stochastic. We will show that this is a problem that can be solved in theory, but the practical solution depends on functions and parameters that are either subjective or cannot be estimated. We will then...

This paper addresses the timing of optimal investment in LPG pipelines when the goal is to maximize consumer surplus less private cost and social of transporting LPG. The loss of consumer surplus is small. The important elements are the private cost of transporting LPG and the congestion created...

An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...

Este trabajo realiza el primer análisis cuantitativo detallado del nivel de actividad económica de Antioquia para el siglo XIX y la primera parte del XX. A partir de los datos existentes para la economía colombiana, se reconstruye la que es, además, una de las primeras series de PIB regional...

This paper is (over the formulas) self explaining . The measurement of economies no longer by GDP alone, but by an Index that includes other important factors as well, a So-cial factors relativized GDP. This index cuts out the part of the GDP that is long term fro-zen up by social transfers...

When estimating regional inequality, many economists use inequality indices weighted by the regions' shares in the national population. Although this approach is widespread, its adequacy has not received attention in the regional science literature. This paper proves that such approach is...

This paper examines the determinants of economic growth, income inequality, and their relationship in the context of education inequality. The econometrics indicate that a higher level of human capital and the relative dispersion of human capital have a disequalizing relationship with income...