In this paper, starting from the two-sector Uzawa-Lucas model, we study a three-sector endogenous growth model with leisure services. By extending the endogenous growth model with leisure developed by Ladrón-de Guevara et al. [1999], our model generalizes the standard time allocation problem,...

In this paper, starting from the two-sector Uzawa-Lucas model, we study a three-sector endogenous growth model with leisure services. By extending the endogenous growth model with leisure developed by Ladrón-de Guevara et al. [1999], our model generalizes the standard time allocation problem,...

In this paper, starting from the two-sector Uzawa-Lucas model, we study a three-sector endogenous growth model with leisure services. By extending the endogenous growth model with leisure developed by Ladrón-de Guevara et al. [1999], our model generalizes the standard time allocation problem,...

In this paper, starting from the Uzawa-Lucas endogenous growth framework with production of physical and human capital, we develop and investigate a model with an additional sector for the production of leisure services. In turn, our three-sector model builds on and extends Ladrón-de Guevara et...

We develop a novel financial market model in which the stock markets of two countries are linked via and with the foreign exchange market. To be precise, there are domestic and foreign speculators in each of the two stock markets which rely either on linear technical or linear fundamental...

This article surveys boundedly rational heterogeneous agent (BRHA) models of financial markets. We give particular emphasis to the role of the market clearing mechanism used, the utility function of the investors, the interaction of price and wealth dynamics, and calibration of this class of...

It is believed that diversity is good for our society, but is it good for financial markets? In particular, does the diversity with respect to beliefs among investors reduce the market risk of risky assets? The current paper aims to answer this question. Within the standard mean-variance...