Although diesel engines have an advantage of low fuel consumption in comparison with gasoline engines, several problems must be solved. One of the major concerns is that diesel exhaust gas has more particle matters (PM) including soot, which are suspected to be linked to human carcinogen. As one...

This paper constructs a small open two-sector overlapping-generations model with the subsistence level of consumption of agricultural goods and explains the following key stylized facts in the process of economic development: increases followed by declines in fertility rate, increases in human...

In this paper, we constructs a model with two-region, two sector and two types of workers. One type of workers has a comparative advantage in agricultural production and mobile between two regions, while the other type of workers has a comparative advantage in producing manufactured goods and...

This paper presents an overlapping generations model with technology choice and credit market imperfections, in order to investigate a possible source of underdevelopment. The model shows that a better financial infrastructure that provides stronger enforcement of contracts facilitates the...