We consider an overlapping generations model with environment, where we introduce an elastic labor supply. In this framework, consumers have to choose between consumption, environmental quality and leisure. We establish that several steady states can coexist, even under a Cobb-Douglas...

We consider an overlapping generations model with environment and an elastic labor supply. In this framework, consumers have to choose between consumption, environmental quality, and leisure. We show the existence of both deterministic cycles and indeterminacy. In contrast to previous results,...

We explore the modelling of the determination of the level of R&D investment of firms. This means that we do not tackle the decision of being an innovator or not, nor the adoption of a new technology. We exclude these decisions and focus on the situations where firms invest in internal R&D in...

The current international regime that regulates maritime oil transport calls for financial contributions by oil firms once an oil spill has occurred. Their percentage contribution to the International Oil Pollution Compensation Fund depends only on their level of activity. In this paper, we show...

This paper investigates the pass-through of an excise tax imposed on a monopoly firm with constant marginal cost. The optimal price increases as tax increases for any demand function. Tax pass-through is globally under or in excess of 100% according as the direct demand function is log-concave...

Recently, Fischer [1996] and Posen [1998] demonstrated empirically that countries with less independent central banks enjoy lower output losses during disinflationary cycles. Since independence is presume to provide a credibility bonus to the monetary policy, this conclusion looks surprising. To...

This paper surveys the notion of common knowledge taken from game theory and computer science. It studies and illustrates more generally the effects of interactive knowledge in economic and social problems. First of all, common knowledge is shown to be a central concept and often a necessary...

The paper studies Akerlof's market for lemons in a new way. We firstly construct mixed Perfect Bayesian Nash equilibria in which all qualities are sold on the market even if the seller's strategy set is reduced to prices. Then we turn to the best-reply matching (BRM) approach developed by...