This paper presents a simple two-country model with mobile capital and immobile labour, in which there are two classes … of individuals, the workers and the capital owners. A source-based tax on capital income is used to finance transfers to …), capital income is shown to be undertaxed at the non-cooperative equilibrium relative to the autarkic situation. …

This paper studies the equilibrium dynamics of an overlapping generations model with capital, money and cash … as capital. When the second regime holds on some finite interval, we say that the economy experiences a temporary bubble …

different forms of capital to ensure that future consumption levels are at least as high as current levels, estimates of … investment have been made using theoretically consistent models and data relevant to the Indian context. [WP No 214] …

This paper studies the equilibrium dynamics of an overlapping generations model with capital, money and cash … as capital. …

This paper studies the persistence of inequality and lack of intergenerational mobility in a human capital accumulation … model with perfect certainty, missing credit markets, endogenous training costs and dynastic utility maximization by … divisibility of human capital. …

This paper develops closed-form solutions for options on credit spreads with GARCH models. We extend the mean … traditional lognormal. Our model, being more flexible, captures better the empirical properties of observed credit spreads and …