We attempt to understand the role of accounts receivable mortgage in a capital-constrained supply chain and to capture the interaction of firms’ operations decisions within non-cooperation or cooperation conditions based on different bank credit policies. We consider a short-term loan directly...

We combine a model of combined inter-spatial and inter-temporal trade between countries recently — used by Huang, Whalley and Zhang (2004) to analyze the merits of trade liberalization in services when goods trade is restricted — with a model of foreign exchange rationing due to Clarete and...

This paper builds on and extends a classic paper (hereafter referred to as F – O) published by Masahisa Fujita and Hideaki Ogawa in 1982. Their paper models the emergence of urban centers brought about by household and firm location decisions in the context of spatially differentiated labor...

In this paper, transnational pollution is formulated as a differential game between sovereign governments. We consider the case when the countries want to cooperate and agree to act so that an international optimum can be achieved. For the cooperative scheme to be upheld throughout the game...

In this paper we propose a new type of continuous-time stochastic volatility model, SVDJ, for the spot exchange rate of RMB, and other foreign currencies. In the model, we assume that the change of exchange rate can be decomposed into two components. One is the normally small-cope innovation...

In this paper, we search for cointegration relation and determine the location of the changes in the long-run money demand in the US. We use the same data set as the previous studies and find that there are two regime changes.