A dynamic bio-economic model is used to examine natural resource use, the resulting nutrient balances and economic outcomes in a poor country under a range of technological and policy intervention scenarios. With limited technological intervention over a twelve year planning period, incomes rise...

There is much research on consumption-savings problems with risky labor income and a constant interest rate and also on portfolio allocation with risky returns but nonstochastic labor income. Less is known quantitatively about the interaction between the two forms of risk. Under CRRA utility,...

Despite favourable ecological and economic results, many developing countries have not yet adopted an integrated pesticide management (IPM). Given rising marginal costs and diminishing marginal benefits from IPM technology transfer, an optimal control framework is used to identify optimal rates...

Climate modelers have recognized the possibility of abrupt climate changes caused by a reorganization of the North Atlantic's current pattern (technically known as a thermohaline circulation collapse). This circulation system now warms north-western Europe and transports carbon dioxide to the...

This paper presents stochastic simulation results pertaining to the performance of nominal income targeting, here represented as a monetary policy rule that sets quarterly values of an interest rate instrument in response to deviations on existing studies of nominal income growth from a...

International spillovers and exchange rate dynamics are examined in a two-country dynamic optimizing model that allows for home-product bias in consumption patterns: at given relative prices the ratio of home goods consumed to foreign goods consumed is higher in the home country. The setup nests...

One of the basic assumptions of the classical dynamic lot-sizing model is that theaggregate demand of a given period must be satisfied in that period. Under thisassumption, if backlogging is not allowed then the demand of a given period cannotbe delivered earlier or later than the period. If...