We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of...

The aim of this paper is to study the interplay between long term productive investments and more short term and liquid speculative ones. A three-period lived overlapping generations model allows us to make this distinction. Agents have two investment decisions. When young, they can invest in...

Solymosi and Raghavan (2001) characterize the stability of the core of the assignment game by means of a property of the valuation matrix. They show that the core of an assignment game is a von Neumann-Morgenstern stable set if and only if its valuation matrix has a dominant diagonal. Their...

In this paper we investigate some structural properties of the order on the set of embedded coalitions outlined in de Clippel and Serrano (2008). Besides, we characterize the scalars associated to the basis they proposed of the vector space of partition function form games

Using data from 10 Western European countries, I provide evidence that the fall of prices of information technologies (IT) is associated with a lower share of employment in middle wage occupations and a higher share of employment in high wage occupations. The decline of IT prices has no robust...

We study a variant of the multi-issue rationing model, where agents claim for several issues. In this variant, the available amount of resource intended for each issue is constrained to an amount fixed a priori according to exogenous criteria. The aim is to distribute the amount corresponding to...

Decentralized rationing problems are those in which the resource is not directly assigned to agents, but first allocated to groups of agents and then divided among their members. Within this framework, we define extensions of the constrained equal awards, the constrained equal losses and the...

Existent literature is by no means conclusive on the effects of trade finance on trade and the economy. We propose a suitable framework to explore the linkages between international trade and finance based on an international real business cycle model where firms require external finance to...

Two puzzling facts of international real business cycles are 1) weak or negative correlations between the terms of trade and output, and 2) a rise in relative consumption for countries where national goods become relatively more expensive. We show these puzzles either vanish or become much...