Despite numerous efforts at interpretation and exposition, the standard Real Business Cycle model remains somewhat misterious. Its dynamic porperties are by now familiar, at least to those who made the effort to run simulation by themselves. Many extention of the basic model have been developed,...

Following Stollery (1998), we extend the Solow-- Dasgupta--Heal model to analyze the effects of global warming The rise of temperature is caused by the use of fossil resources so that the temperature level can be linked to the remaining stock of these resources. The rise of temperature affects...

The now standard WS- PS (wage-setting, price-setting) introduced by Layard-Nickell-Jackman(1991) and recently developped by Cahuc-Zylberberg(1999), provides simple foundations to the equilibrium unemployment rate. We provide a complete exposition of the model. We stress the importance of...

In this paper, the two-period OLG model has been modified to distinguish the effects of individual ageing from changes in the birth rate. Optimal pension and retirement age policies have been characterized in a dynamic framework. We have considered a mixed pension scheme that is fully funded,...

This paper studies the undiscounted utilitarian optimal paths of the canonical Dasgupta-Heal-Solow model when the stock of natural capital is a direct argument of well-being, besides consumption. We use a Keynes-Ramsey rule wich yields a generalization of Hartwick's rule : if society has a zero...

Following Stollery [1998], we extend the Solow, Dasgupta-Heal model to analyze the effects of global warning. The rise of temperature is caused by the use of fossil resources so that the temperature level can be linked to the remaining stock of these resources. The rise of temperature affects...

We offer a new method to characterized cointegration properties of higher orders. This method relies on a very simple device. We first examine the question in a deterministic framework, where cointegration porperties pertains to rate of growth. We relate these properties to the structure of the...