This Paper Questions the Capacity of the Two Leading Categories of Contract-Based Models of the Business Cycle to Give a Satisfactory Explanation for the Dynamic Behavior of Aggregates. Firstly, an Expected Market-Clearing Model That Is Designed to Account for the Dynamic Propagation of Shocks...

This Paper Presents Empirical Evidence on Both These Effects by Studying Version of the Hall-Jorgenson Model Estimated From U.S. Data (1956-1972) by Gordon Investment Tax Credits over This Period Suggest That the Lucas Effects May Be Observable in This Example. for This Purpose, We Use Recursive...

This Paper Addresses the Difficulties of Cooperation in Asymmetric Dilemmas, Interactions Where Two Or More Parties Have Mixed Motives and Receive Different Known Outcomes If They Mutually Cooperate Or Mutually Noncooperate. Thus We Address Dilemmas That Are More General Than the More Often...

Ce Texte Analyse la Contribution de la Balance Commerciale En Tant Que Stabilisateur Automatique du Revenu National. Il Y Est Developpe et Verifie un Modele de Demande D'importation et D'exportation Qui Vise a Infirmer Ou a Confirmer L'hypothese Que la Balance Commerciale Joue le Role D'un...

The aim of this paper is to demonstrate that, even if Marx's solution to the transformation problem can be modified, his basic conclusions remain valid. the proposed alternative solution which is presented hare is based on the constraint of a common general profit rate in both spaces and a money...

This Paper Provides a Rationale for the Difference Between Contract and Spot Prices Which Is Not Based on Risk Aversion But on Price Discrimination. We Model the Behaviour of a Large Buyer Who Groups an Advance Delivery Contract for Part of His Requirements. His Remaining Purchases Are Executed...

It is not uncommon that a society facing a choice problem has also to choose the choice rule itself. In such situation voters’ preferences on alternatives induce preferences over the voting rules. Such a setting immediately gives rise to a natural question concerning consistency between these...

In 1972, Dreze and Modigliani Generalized the Line of Research Initiated by Leland [5] and Sandmo [8] on the Effects of Income Risk on Consumption. They Gave Necessary and Sufficient Conditions for Consumption to Decrease Under Income Risk. However, They Did Not Cover Extensively the Case of...