We develop an overlapping generations model with retradeable paper assets and capital accumulation to analyze the interaction between the real economy and an international asset market. The world consists of two homogeneous countries, which differ only in their initial levels of capital. Two...

The aim of this paper is to investigate the spillover effects through an endogenous world interest rate on the inequality of nations. The model of K. Matsuyama (Econometrica 72 (2004)) is explored under the alternative assumption that the world economy consists of two countries, instead of a...

Vaccines against several common foodborne pathogens are being developed and could substantially alter the policy tools available to address foodborne illness. However, little analysis is available to suggest how social welfare would be affected by these new vaccines. To address this void, we use...

In this article we extend the recent literature on overlapping generations with a pollution sector by allowing generations to have a certain pollution perception with regards to the stock of pollution. Pollution perception, assumed to be part of the generations' preferences, can be either a...

Incluye bibliografía ; This article combines a discrete choice model of demand for residential local telephone access and an optimal price regulation model to estimate the welfare weights that state regulators place on consumers with different incomes and locations. I fi nd no evidence of a...

Intertemporal general-equilibrium models with Keynesian features such as imperfect competition and imperfectly flexible prices which give rise to a (at least) short-run non-neutrality of monetary policy have become the workhorse model for monetary macroeconomics. This thesis now makes four...

This research endeavor consisted of two distinct efforts. First, following a literature review of the characteristics, objectives, and incentive programs available to nonindustrial private forest (NIPF) landowners, the potential effects of wood chip mill harvests on forest management practices...

This paper asks how NAFTA affected income distribution within Mexico considering changes in internalmigration. Trade liberalization should theoretically increase the income of low-skilled workers in low-skilled labor-abundantdeveloping countries. Thus, by increasing the wages of poorer workers,...

The U.S. Renewable Fuel Standard program (RFS), which involves mandates for variousbiofuels, is complex and has been often misinterpreted or oversimplified in previous studies.In this paper we analyze the implications of the RFS for the U.S. domestic and international ethanol markets. We...