A general notion of market perfect contestability is introduced. It coincides with the definition given by Baumol et al. under Bertrand competition, but is compatible with other forms of competition: Cournot competition as well as monopolistic competition. Using this notion,we illustrate the...

This note presents a model in which pension funds, by holding a significant share of capital assets, can exert a non competitive behavior on labor market. This leads to lower wages and higher capital returns, and can reduce capital accumulation and long-run welfare.

The purpose of this paper is to provide a critical evaluation of theoretical modelshowing that shifting from pay-as-you-go to funded social security schemes can be made Pareto-improving. Further, it argues that what often makes a reform toward funded schemes attractive is a number of additional...

This paper studies the equilibrium dynamics of an overlapping generations model with capital, money and cash-in-advance constraints. At each date the economy can experience two different regimes. In the first one the cash-in-advance constraint is binding and money is a dominated asset. In the...

It is generally accepted that moving from an unfunded to a funded social security system implies a welfare loss for the trasition generation, that is the generation that has to pay twice: first, saving for this own retirement and second, contributing to the pensions of the then retired...

This paper develops a dynamic model wherein production generates pollution that is viewed as a public bad by consumers. There are two types of consumers : those who are altuist a la Barro-Becker and leave bequests to their children and those who are pure life-cyclers. Both types of consumers...

This paper addresses the issue of optimum population with two concerns : avoiding both the absolute repugnant solution that amounts to giving to an infinite number an infinitesimal amount and the marginal repugnant solution in which equilibrium consumption decresases with income. To avoid these...

A separation heuristic for mixed integer programs is presented that theoretically allows one to derive several families of " strong" valid inequalities for specific models and compuationally gives results as good as or better than those obtained from several existing separation routines...

In this paper we develop new primal-dual interior-point methods for linear programming, which are based on the concept of parabolic target space. We show that such schemes work in the infinity-neighborhood of the primal-dual central path. Nevertheless these methods possess the best known...

BC-PROD is a prototype modelling and optimization system designed and able to tackle a wide variety of the discrete-time lot-sizing problems arising both in the practice and in literature. To use BC-PROD, the user needs to formulate his/her problem as a mixed integer program using XPRESS-MP's...