An economy with ex ante markets for future delivery contingent on ex post spot market prices is considered. Since spot prices are publicly observed ex post, this framework bypasses the enforcement problems that may arise as a result of differential information about states of nature....

We study a 3-region version of the Footloose Entrepreneur model by Forslid and Ottaviano (J Econ Geogr, 2003). We focus on the analysis of stability of three types of long-run equilibria: agglomeration, dispersion and partial dispersion. We find that the 3-region model exhibits more tendency for...

Institutions, crucial for the analysis of how agents deal with uncertainty, have been gaining increasing relevance on the Economic research agenda. In this paper, we analyze the institutional literature that provides insights into different research fields, aiming to explain why this perspective...

We characterize collusion sustainability in markets where demand growth may trigger the entry of a new firm whose efficiency may be different from the efficiency of the incumbents. We find that the profit-sharing rule that firms adopt to divide the cartel profit after entry is a key determinant...

In the current context where the limited role for monetary policy instruments apparently endows fiscal policy with higher effectiveness, European fiscal policy authorities are rather constrained by the fact of most countries being struggling against recessions together with the need to put...

Although a myriad of important theoretical and empirical contributions on ageing populations exist, these contributions are diffuse and lack an integrated vision of the distinct mechanisms through which ageing populations impact on economic growth. As such, in this paper we survey the literature...

This article focuses on the location decision of firms when competing in a spatial Cournot duopoly. Our original contribution is that firms are dependent on a natural resource input, which is assumed to be located in one of the extremes of the market, to be able to produce the output sought by...

It is widely recognized that scientific research has a dramatic impact on economies since it is crucial to foster technological knowledge. Today’s migratory movements and concentration of highly educated population and population with high scientific potential in developed countries play an...

This paper analyzes accounting in agriculture under the International Accounting Standard (IAS) 41 – Agriculture of 270 listed firms worldwide that have adopted International Financial Reporting Standards (IFRS) until 2010. Previous empirical evidence on the implementation of this standard is...

National Statistics Offices, Central Banks, and any other organisms and agencies producing statistical information, disseminate data so that the individual information is sufficiently protected. At the same time, those entities aim at providing society with as much information as possible under...