This paper analyses growth and convergence on sugarcane industry in southeast Asia countries. Important questions in this paper are whether the growth of sugar cane industry in Southeast Asia moves toward a convergence or divergence trend over time and to what extent the economic integration...

One of the difficult and frustrating aspects of teaching mathematics is getting students to think logically and develop an ability to prove theorems. Too frequently, students resort to what might be called "proof by example." A classic illustration of "proof by example" comes from years of...

In this paper I give a new proof of equilibrium existence in incomplete markets economies with a continuum of states.

In the paper, the asymptotic distribution of the equilibrium price in markets with the random demand and supply is described. Two special cases - the one with smooth demand and supply curves and the one with jump demand and supply curves - are studied. It is found that in both the cases the...

As in [1], we study the deterministic optimization problem of a profit- maximizing firm which plans its sales/production schedule. The firm knows the revenue associated to a given level of sales, as well as its production and storage costs. The revenue and the production cost are assumed to be...

This paper explores two models of an economy in which contracts are exchanged. In the first version contracts are exchanged on a competitive market in which traders expectations concerning conditions that prevail within specific markets adjust until markets `clear'. In the second model contract...

This paper derives analytical gradients for a broad class of regime- switching models with Markovian state-transition probabilities. Such models are usually estimated by maximum likelihood methods, which require the derivatives of the likelihood function with respect to the parameter vector....

In this paper, we survey the principal theoretical models of endogenous growth and explore their common components through analyzing a series of planning problems. Our aim is to provide the reader with a consistent approach to the emerging literature on growth as an introduction to the field.

The main purpose of the paper is to analyse the speed of regional convergence of unified Germany on the basis of a two-region growth model with public productive spending. The model explains the dynamics of convergence, taking into account high fixed wages in East Germany, recent dynamics of...

This study is undertaken with the objective of investigating the performance of Akaike’s Information Corrected Criterion (AICC) as an order determination criterion for the selection of Autoregressive Moving-average or ARMA (p, q) time series models. A simulation investigation was carried out...