Deforestation has long been heavily studied; several proximate and underlying causes behind the global decrease of forest extent have been discussed. However, systematic analyses of positive examples are sparse, even if forestation is happening in almost 70 countries (on approximately 40% of the...

Risk allocation games are cooperative games that are used to attribute the risk of a financial entity to its divisions. In this paper, we extend the literature on risk allocation games by incorporating liquidity considerations. A liquidity policy specifies state-dependent liquidity requirements...

Does sharing the same religion, civilization or racial proximity lead to more peaceful relations between countries? This paper argues that cultural similarity can actually cause wars, which occur to combat di_usion. This new theory of war combines the models of Acemoglu and Robinson (2006) and...

In order to facilitate the use of biodiversity indicators in policy making at the country level, a few and well-established indices should be suggested. Promising candidates include biodiversity-related indices of the Convention on Biological Diversity; therefore I evaluate their current use and...

In this paper we aim to assess the mechanics of the global food price increases experienced in the recent years, most profoundly during the 2007-2008 food price spikes. At this stage, we aim to test, whether there is an empirically assessable relationship between World agricultural commodity...

The purpose of this paper is to introduce a novel family of games related to congested networks. Traffic routing has been extensively analyzed from the non-cooperative aspect. A common assumption is that each individual optimizes his route in the network selfishly. However looking at the same...

A general framework is analyzed which contains several special transfer (tax and pension) models. In our static two-overlapping-generation framework, every individual works in the first stage of the adult age, while is retired in the second. The government operates a balanced linear transfer...

Data from 135 countries covering five decades suggests that creditless recoveries, in which the stock of real credit does not return to the pre-crisis level for three years after the GDP trough, are not rare and are characterised by remarkable real GDP growth rates: 4.7 percent per year in...

This paper demonstrates that despite substantial transformation towards a market economy, occasions for increased state intervention will mobilize the characteristics of redistribution in party-state systems. Such state intervention occurred through the introduction of the stimulus package in...

We extend the theoretical model of external corporate financing to the case when the buyers of the borrowing firm may default during the financing period. In our setup there is an asymmetric information and hence moral hazard between the lender and the borrower concerning the effrts of the...