We analyze a stochastic versions of the Rubinstein bargaining model with outside options available to both the proposer and the responder.

In the standard two-sided matching models, agents on one side of the market (the institutions) can each be matched to a set of agents ( the individuals) on the other side of the market, and the individuals only have preferences defined over institutions ti which they can be matched. We...

This paper analyses the theoretical relevance of the dynamical aspects of growth on the discussion about the observed positive correlation between per capita real income and real exchange rates. With this purpose, we develop a simple exogenous growth model where the internal, external and...

This paper investigates the role of variable capacity utilization as a source of asymmetries in the relationship between monetary policy and economic activity within a dynamic stochastic general equilibrium framework. The source of the asymmetry is directly linked to the bottlenecks and...

A voting scheme assigns to each profile of alternatives chosen by "n" individuals a compromise alternative. Here the set of alternatives is represented by the Euclidean plane. The individual utilities for the compromise point are equal to the negatives of the distances of this point to the...