This paper presents a basic model by which a representative agent chooses how to allocate his savings optimally between money of legal origin and dirty money. It analyses the welfare of such an economy as a result of money laundering, as well as the conditions to reduce the incentives to...

In this paper the efficiency of the confiscation as a tool against organized crime is studied by using a general equilibrium model that considers the existence of a representative criminal organization that generates profits that need to be laundered. The main result of the paper shows that if...

This paper contributes to the literature on economic growth by seeking to join several lines of research on structural factors in a more fully specified framework, on the one hand, and by making this more inclusive supply side to interact with demand factors in a model of export-led growth, on...

This paper derives a balance-of-payments equilibrium growth rate analogous to Thirlwall's Law from a Pasinettian multi-sector macrodynamic framework. The resulting formula, which we call the Multi-Sectoral Thirlwall's Law, asserts that a country's growth rate of per capita income is directly...

In this paper Pasinetti’s model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to...