Trading blocks can help or hinder the liberalization of world trade. A determining factor is whether trade within the block is organized around traditional comparative advantages, or around economies of scale. Regional free trade agreements such as NAFTA can be a substitutes for global free...

The present paper studies existence and characterization of efficient paths in infinite-horizon economic growth models: the method used is based on techniques of nonlinear functional analysis on Hilbert spaces developed earlier by Chichilnisky. Necessary and sufficient conditions are given for...

This article describes the macroeconomic model used in an ongoing study of technology policies and North-South relations. Other aspects of the study have been described elsewhere [1,2]. We examine here the rationale for the theoretical structure used in the model, the details of the equations,...

Regional free trade zones have been unexpectedly successful in the last decade. Since 1980 the European Community enlarged significantly its membership and its scope. It now includes southern European countries, and market-integrating features allowing goods, people, services and capital to flow...

Economics is the driving force of today's widespread environmental destruction. Markets undervalue the earth's resources and compound their overuse. Since World War II the world has used resources voraciously. The situation can be described as the industrial countries overconsuming resources...

The first two sections of the paper are devoted to a combination of Kuznets and structuralist stories, where we ask how the agricultural/nonagricultural terms of trade and income distribution must adjust to permit both savings and investment and commodity market balance to be assured. It will be...

This note provides simple proofs of the equivalence among the core, equilibrium and limited arbitrage in markets with short sales, and with uniform strictly convex preferences.

We prove the existence of an optimal growth path in an economy where goods that are not consumed are wither invested in next period or in R&D with overall non-convex production possibilities, ising results of non-linear functional analysis in weighted Lp spaces of Chichilnisky (Journal of...

We study the aggregation of preferences when intensities are taken into account: the aggregation of cardinal preferences, and also of von Neumann-Morgenstern utilities for choices under uncertainty. We show that with a finite number of choices there exist no continuous anonymous aggregation...

To provide a map to the future, we need a realistic appraisal of how we got where we are. This is the story of how humans have hedged risks. There are two basic and distinct approaches: statistical and economical. The former is typical of the insurance industry; the latter typifies the...