The present paper develops a mechanism of technological transformation essentially built on two premises, namely, that most technologies needed for today's poor economies to get out of backwardness are already available in advanced industrialized economies, and that there is a circularity...

We propose a model where the benevolent resource planner's management is endogenous. This allows for the analysis of trade models with management régimes other than the polar open access and 1st best régimes. Interestingly, 2nd best, endogenous, management régimes are more realistic than the...

We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible, lagged investment whose value varies randomly. We analyze two cases: regulatory approval is valid forever or it expires after some time. We apply our model to Hydro-Québec's...

Models use for natural resources prices usually preclude the possibility of large changes (jumps) resulting from discrete, unexpected events. To test for the presence of jumps and ARCH effects, we propose to use bounds and bootstrap test techniques, thus solving the unidentified nuisance...

Recently, the issue of worldwide environmental quality has been discussed in the context of trade liberalization on a global scale. Two diametrically opposite tenets have been recorded. According to one tenet - the cons-increasing opportunities for profitable exchange created by trade...