This paper studies intra-industry foreign direct investment in a 2*2*2 general equilibrium model with bilateral monopoly in the factor market and unilateral monopoly fn the product market. Intra-industry investment is presented as the endogenous result of the interactions between multinational...

This paper considers the effects of a proportional consumption tax with the same rate over time on the real growth path of a monetary economy. The analysis uses a variety of stylized monetary growth models in which individual's consumption-saving decision is based on intertemporal utility...

This paper presents a dynamic general equilibrium model that incorporates profit-maximizing banks and inside money into a decentralized Ramsey economy. It offers an alternative to the monetary equilibrium model of Sidrauski with money in the utility function and that of Stockman with a...

Consumption externality is introduced into the Ramsey equilibrium model. Existence of Ramsey equilibrium is demonstrated.

This work deals with the intra-day determination of foreign exchange rates. We have two objectives. The first is to suggest a microstructure model of the foreign exchange markets. The second is to explain certain empirical issues, using this model Auctions.

This paper reports the result of an empirical study designed to examine the relationship between the manager's perceptions of the sources of budget variances and his motivation. A questionnaire survey drew the responses from sixty-eight middle managers sampled from nine manufacturing companies...

This paper reexamines the problem of long-run tax incidence by using a two-sector growth model in which finitely-lived individuals undertake intertemporal optimizing decisions in the presence of annuity markets. Under a constant relative risk aversion utility function, none of the selective...