I construct and analyze an example of an economy with production and money under conditions of uncertainty, asymmetric information, and an incomplete asset market. For alternative scenarios, which differ in the information available to consumers and firms, I compute the equilibrium prices and...

I construct and analyse an example of an economy with production and money under conditions of uncertainty, assymetric information, and an incomplete asset market. For alternative scenarios, which differ in the information available to consumers and firms, I compute the equilibrium prices and...

The current financial crisis has once again shown that the inherent pro-cyclicality of lending can trigger financial cycles with a potentially substantial impact on the real economy. Against that background, the article analyses the size and dynamics of the debt ratios of the various...

Wheat is the most important cereal crop in the semi-arid eastern Mediterranean region that includes northern Syria. Knowledge of wheat root depth and the vertical distribution during the winter growing season is needed for sound scheduling of irrigation and efficient use of water. This article...

We provide a general characterisation of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with finitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...