This evaluation of blending as an EU aid delivery mechanism aims to: provide an overall and independent assessment of blending. identify key lessons and recommendations to improve and inform future choices on blending. The scope includes EuropeAid support through seven investment facilities over...

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

We study optimal nominal demand policy in an economy with monopolistic competition and flexible prices when firms have imperfect common knowledge about the shocks hitting the economy. Parametrizing firms' information imperfections by a (Shannon) capacity parameter that constrains the amount of...