This paper presents an endogenous growth model in which there is an explicit treatment of the informational asymmetries giving rise to finance constraints in the credit market.

This paper presents a two-country, two-good, two-currency overlapping generatioons models that features limited participation and costly state verification inthe credit market.

The purpose of this paper is to study the issue of macroeconomic control in China. The investigation is conducted within the context of an endogenous growth model that incorporates the major institutional features of the transforming Chinese economy.

This paper presents an endogenous growth model in which there is an explicit treatment of the informational asymmetries giving rise to finance constraints in the credit market.

This paper presents a two-country, two-good, two-currency overlapping generatioons models that features limited participation and costly state verification inthe credit market.

The purpose of this paper is to study the issue of macroeconomic control in China. The investigation is conducted within the context of an endogenous growth model that incorporates the major institutional features of the transforming Chinese economy.

In a discounted expected-utility problem, tomorrow's utilities are aggregated across tomorrow's states by the expectation operator. In our problems, this aggregation is accomplished by a Choquet integral of the form iudP a, where a specifies uncertainty aversion. We solve all finite-state...

Researchers have long been interested in understanding why a Strong relationship between family income and educational attainment exists at virtually all levels of schooling. In part due to a recent increase in the disparity between the wages of college graduates and the wages of individuals...

In this paper we use a general equilibrium model of Vietnam, calibrated to 1995 data, to analyze tax reform options for Vietnam. We focus on aggregate welfare impacts as well as welfare of household groups ranked by income. The main focus is on indirect tax reform (VAT), but we also examine...