The interest shown by policy makers and economists in the precautionary principle indicates the importance of model uncertainty in global warming policy. I show that through robust control, policy makers can implement the precautionary principle to regulate a stock pollutant, and I analyze its...

In this paper an analytical framework using robust control was developed for the one-state, one-control variable model to examine the response of the control to changes in the quot;freequot; parameter. It was found that the response is characterized by a hyperbolic shape

In this paper an analytical framework similar to a robust control problem was developed for the one-state, one-control variable model to examine the response of the control variable to change in the quot;freequot; parameter. However, in contrast to Gonzalez and Rodriguez (2003), the sign...

In this study, I develop an analytical general equilibrium model to assess the distributional effects across income groups of a carbon tax assuming that the revenue from the carbon tax is recycled in two different ways: as a manufacturing tax-cut and a food subsidy. I use this analytical model...

This paper uses a multinomial logit model to examine the factors associated with the occurrence of both self-fulfilling and fundamental banking crises. We find evidence indicating that the two types of crises are indeed different, and are explained by different variables. Self-fulfilling crises...

Few studies estimate housing demand for developing countries. We contribute to the literature by estimating housing demand in Mexico, and analysing its main determinants. An advantage of this study is the use of market-based data of actual housing transactions. Our results show a strong positive...

This paper employs U.S. metropolitan data to investigate the relationship between mortality rate and the business cycle. We utilize mortality and employment data that are specific to a given city, year and race/ethnic group. The analysis improves upon the existing literature by analyzing the...

Global air pollution continues to increase across the world, and Mexico City is one of the most polluted cities in the western hemisphere. This paper considers the tradeoff between wages, housing characteristics, and air quality in the conjoint decision of where a household decides to live and...