The Tobin tax is a solution proposed by many economists for limiting the speculation in foreign exchange and stock markets and for making these markets stabler. In this paper we present a study on the effects of a transaction tax on one and on two related markets, using an artificial financial...

This paper presents a theoretical and empirical investigation of the relationship between human capital composition and economic growth and points to the importance of tertiary education in the explanation of growth for developing countries. In the theoretical analysis, we allow for non-constant...

This paper presents a New Economic Geography model of structural change, agglomeration and growth. By assuming the same non-homothetic preference structure as Murata (2008), we obtain similar results in that a progressive reduction of trade costs allows the economy to pass from a...

We construct a two-country model with national and multinational (multiplant) firms and we investigate the effect of trade integration on welfare both at the country and at the aggregate level. When national and multinational firms coexist in equilibrium, results crucially depend on the share of...

I build a dynamic general equilibrium model of a small economy specialized in tourism where visitors are attracted by the stock of existing environmental assets, and the stock of tourism and leisure facilities. Residents, at any date, choose the level of consumption, the number of visitors, and...

We build a growth model in which tourism development generates pollution while tourists are pollution adverse. We establish that long run positive growth exists only for a particular value of tourists pollution adversion. Furthermore, we show that an intensive use of facilities is associated...