This paper studies the effects of public infrastructure investment policies. A dynamic general equilibrium model where the effective stock of public infrastructure is an input in production is used to analyze the consequences of changing the share of GDP devoted to public investment....

This paper proposes a model for a certification market with an imperfect testing technology. Such a technology only assures that whenever two products are tested the higher quality product is more likely to pass than the lower quality one. When only one certifier with such testing technology is...

This paper experimentally investigates the effects of a costly punishment option on cooperation and social welfare in long finitely repeated public good contribution games. In a perfect monitoring environment increasing the severity of the potential punishment monotonically increases both...

In this paper we consider a model with two industrialised countries and immigrants that come from the rest of the world. The countries are distinguished on the basis of three parameters: population size, bias towards immigrants, and production complementarity between native population and...