The intertemporal decentralization literature scrutinizes the ability of markets to achieve dynamically optimal allocation of resources. Put differently, it examines the possibility of designing a mechanism enabling short-lived agents to make independent decisions compatible with long-run...

As outlined, recurring concerns have surfaced since the 1700s that economic growth may prove to be unsustainable. These concerns have been expressed again and have intensified in recent decades but their foundation differs from that of Malthus. The rapid economic growth of China and India have...

Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...