We incorporate a renewable resource into an overlapping generations model with standard, well-behaved utility and constant returns production functions. Besides being a factor of production the resource serves as a store of value. We characterize dynamics, efficiency and stability of steady...

We study the effects of demand, tax and supply shocks in one- and twocountry macroeconomic models with fixed exchange rates, with our main emphasis on the stabilisation properties of progressive taxation. The models try to depict outcomes for the EMU countries. In the one-country model we obtain...

A three-stage game including investments, environmental quality provision and price competition is developed to study the impact of green technology investment (ecolabeling), in a duopoly model of vertical product differentiation. The firms’ incentives to invest in green technologies depend on...

Finland has pursued a law-based work ability policy for more than a decade. Many studies indicate that it has been very successful from a health point of view. It has also been demonstrated that it is economically feasible both on a micro and a macro level. In the present study, a number of...

In this paper I analyze the local banking markets in the spatial competition context. In the model one bank is located at the one end of the unit long line and two rival banks are located at another end. Ends are considered as centers of two towns. Borrowers are located on the line between the...

This paper attempts to contrast the traditional view of there being a fundamental trade-off between productive efficiency (and/or growth) and social equality against the current knowledge on these matters as mediated by theoretical and empirical analyses reported in the more recent literature of...

According to conventional wisdom internationally mobile capital should not be taxed or should be taxed at a lower rate than labour. An important underlying assumption behind this view is that there are no market imperfections, in particular that labour markets clear competitively. At least for...

Indirect analysis of market power requires market delineation. Procedures in competition case law can be biased, as sample of market participants is typically biased or wrong one for analysis of market boundaries. Market delination can then be biased to too narrow markets, thus finding too much...

This paper addresses the question of the software companies’ timing of adoption of the open source software (OSS) business models comprising the supply of OSS products and/or services. The game-theoretic technology adoption models do not explain well the observed diffusion patterns of the OSS...

This paper provides a theoretical framework to study the behavioral and welfare effects of forest conservation, which leads to a binding harvesting constraint for landowners. The economy is modeled as a three-stage game by the interaction of the government’s conservation policy, with...