We consider a three sector model of informal sector which assumes efficiency wage hypothesis and explains the simultaneous existence of informal sector and urban unemployment. We also study the effects of subsidy policies given to different sectors and the effects of change in capital stock on...

This study try to identify the â-convergence process among regions in East Java using cross-section data of 30 regions for period 1983-2001, taking into account the presence of spatial heterogeneity and spatial dependence. Detection of spatial regimes using G-I* statistics on regional per...

The particular subject of this paper, is to give an explicit formulas that will permit to obtain the linear VaR or Linear ES, when the joint risk factors of the Linear portfolios, changes with mixture of t-Student distributions. Note that, since one shortcoming of the multivariate t-...

Este artículo trata de servir de introducción a la situación de los países del área sub-sahariana que se caracterizan por tener el menor crecimiento económico y la más baja productividad mundial. En este contexto se analizan cuáles son las principales causas del atraso y se esbozan las...

:- We consider a small open Harris-Todaro economy with a rural foreign enclave and urban informal sector. We introduce consumption- efficiency relation to explain the simultaneous existence of informal sector and urban unemployment. Different types of immobility and mobility of capital are...

We consider stochastic optimization problems involving stochastic dominance constraints of first order, also called stochastic ordering constraints. They are equivalent to a continuum of probabilistic constraints or chance constraints. We develop first order necessary and sufficient conditions...

This study finds that the consumption of minerals and oil reserves of India has grown several times faster than the GNP. This has reduced the estimated reserves of several Non-renewable Resources (NRRs), whose estimated life spans in India vary from 9 to 47 years. It uses the Liontief Input...

The illicit dealing in gemstones (including diamonds) is a fast growing activity in African countries which produce these minerals. Zaire and Angola are two extreme examples, but by no means exceptions. The preferred policy efforts to controlling the flow of illicit trade in gems have been...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...

The paper argues that, from a dynamic efficiency perspective, intersections of factor price frontiers are irrelevant to the choice of techniques. Because every change in technique involves a temporary loss or gain in both profit and per capita consumption within the transition period, its...