We introduce a new stability concept for multi-period matching markets. Robust prescient stability asserts that agents exhibit foresight…
This paper examines the economic logic underlying so-called “first mover advantages” as alternatives to patent protection in allowing…
It is understood that investment serves as a shock absorber in times of crisis. The duration of the drag on investment, however, is…
Some of the best-known papers of Carlos F. Díaz Alejandro were about Latin America’s crises in the 1980s and 1930s. I will show data,…
As shown in the 1930s by Hicks and Robinson the elasticity of substitution (s) is
a key parameter that captures whether capital and labor…
The rapid growth rates for renewable energy are part of a larger policy agenda to promote a cleaner energy system. The health and…
We analyze a T-period, bilateral matching economy without monetary transfers.
Under natural restrictions on agents’ preferences, which…
We examine a dynamic, multi-period, bilateral matching market, such as a labor market where workers are long-lived and production occurs…
This paper studies sovereign debt relief in a long-term perspective. We quantify the relief achieved through default and restructuring in…