Discontinuities in the vector field of differential equations are a typical characteristic of disequilibrium dynamics. One way of co ping with this problem is offered by the Filippov solution. The autho rs prove existence and uniqueness of a Filappov solution for a so-cal led sliding trajectory...

In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange process...

In a framework of a two-country monetary asset-pricing model with production the effects of stochastic and structural fiscal and monetary policy shocks are investigated. The model is kept simple enough to allow the derivation of closed form solutions of the functional equation system for the...

<DIV>Since the 1980s, economists have used the concept of strategic trade policy, which takes account of imperfect competition and increasing returns in the international marketplace, to criticize conventional views about free trade. According to the new view, a government can take strategic steps to...</div>

Distribution of resources and opportunity has always been an important factor in European integration. As new and economically weaker join the EU in the future, this will become even more crucial. The reduction of inequalities occupies a prominent place on the European political agenda. This...