The existing literature on fiscal policy has mainly employed linear models that found a small fiscal multiplier in developing economies. These findings challenge the importance and e↵ectiveness of fiscal policy for these countries. However, linear models are not capable of distinguishing the...

The existing literature on fiscal policy has mainly employed linear models that found a small fiscal multiplier in developing economies. These findings challenge the importance and effectiveness of fiscal policy for these countries. However, linear models are not capable of distinguishing the...

The theory 'corporate social responsibility' (CSR) is characterized in the paper. The paper expresses the authors' opinion, that CSR as a mere proclamation of necessity of the firms' ethic behavior does not enforce this into praxis. The internal economic motivation to CSR it is the necessary...

Three original microeconomic models of an externality market are described: (1) model of the marketable permits for exhalations emission, (2) model of optimal financial satisfaction of a damage caused by a negative externality in the economy with agents maximizing probability of their survival...