determines the final equilibrium or whether is it possible to attract skilled workers to areas with less human capital. This is a … interest rates conditional on economies scales that are sufficiently high contrary to Krugman. At least one equilibrium path … emerges that was not present in Krugman's model. Under certain conditions, the final equilibrium is stable. This finding …

designing the contest rule in order to maximize total equilibrium effort (resp. revenue). The two predominant contest regimes …

existence of (ZLB) equilibria. We study the equilibrium selection given different scenarios and conclude that central bankers …

Economic equilibrium models have been inspired by analogies to stationary states in classical mechanics. To extend …-algebraic equation framework seeks to overcome some restrictions inherent to the optimization approach and to provide an out-of-equilibrium … foundation for general equilibrium models. We transform a static Edgeworth box exchange model into a dynamic model with …

another interesting feature our model generates equilibrium price patterns that reflect underreaction of asset prices with …