Xuất bản: 27 July, 2022
This paper examines a model of optimal growth where the aggregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. First, we consider the case of strictly concave utility function: when the discount rate...
Non-convex Aggregate Technology and Optimal Economic Growth.
This paper examines a model of optimal growth where the aggregation of two separate well behaved and concave production technologies exhibits a basic non-convexity. First, we consider the case of strictly concave utility function: when the discount rate is either low enough or high enough, there will be one steady state equilibrium toward which the […]
Xuất bản: 27 July, 2022
Page and Wooders (1996) prove that the no-unbounded-arbitrage (NUBA) condition introduced by Page (1987) is equivalent to the existence of a no arbitrage price (NAPS) when no agent has non-null useless vectors. Al- louch, Le Van and Page (2002) show that...
No Unbounded Arbitrage, Weak No Market
Arbitrage and No Arbitrage Price System
Conditions: the Circular Results.
Page and Wooders (1996) prove that the no-unbounded-arbitrage (NUBA) condition introduced by Page (1987) is equivalent to the existence of a no arbitrage price (NAPS) when no agent has non-null useless vectors. Al- louch, Le Van and Page (2002) show that their generalized NAPS condition is actually equivalent to the weak-no-market-arbitrage (WNMA) condition introduced by […]
Xuất bản: 27 July, 2022
There has been recently increasing interest in the establishment of a common currency area in East Asia in the aftermath of the East Asian financial crisis. In this paper, we examine the desirability and feasibility of forming a currency area in the region...
East Asian Currency Area: A Bayesian Dynamic Factor
Model Analysis.
There has been recently increasing interest in the establishment of a common currency area in East Asia in the aftermath of the East Asian financial crisis. In this paper, we examine the desirability and feasibility of forming a currency area in the region by checking the symmetry of shocks as an important criterion of the […]
Xuất bản: 27 July, 2022
Relying on a North-South model of economic geography, our paper attempts to discuss the management of global pollution issues such as greenhouse gas emissions. As firms are increasingly mobile, they become sensitive to differences in environmental standards...
Globalization, North-South Industrial Location and Environmental Competition.
Relying on a North-South model of economic geography, our paper attempts to discuss the management of global pollution issues such as greenhouse gas emissions. As firms are increasingly mobile, they become sensitive to differences in environmental standards across countries and subject the regulatory power of a country to the rule of competition. In this context, […]
Xuất bản: 27 July, 2022
This paper uses the recent Vietnam Household Living Standard Survey 2004 to analyze the determinants and impacts of migration in Vietnam. Most of the previous studies on the determinants and impacts of migration have focused on destination rather than...
Determinants and Impacts of Migration
in Vietnam
This paper uses the recent Vietnam Household Living Standard Survey 2004 to analyze the determinants and impacts of migration in Vietnam. Most of the previous studies on the determinants and impacts of migration have focused on destination rather than origin areas of migration. This limits our understanding of the determinants of migration and also does […]
Xuất bản: 27 July, 2022
We analyze the linkage between protectionism and invasive species (IS) hazard in the context of two-way trade and multilateral trade integration, two major features of real-world agricultural trade. Multilateral integration includes the joint reduction...
Intra-Industry Trade, Multilateral Trade Integration and Invasive Species Risk
We analyze the linkage between protectionism and invasive species (IS) hazard in the context of two-way trade and multilateral trade integration, two major features of real-world agricultural trade. Multilateral integration includes the joint reduction of tariffs and trade costs among trading partners. Multilateral trade integration is more likely to increase damages from IS than predicted […]