Empirically, the covariance between stock returns varies with their volatility. We seek a robust theoretical explanation of this. With minimal assumptions, we model stochastic properties of equilibrium returns which result from the interaction between inter-temporal traders and noisy,...

This paper first develops a structural micro-founded model of aggregate net migration flow using matching ideas to study how migrants choose between multiple locations using multiple criteria. Migration should reduce inequality in the criteria. Most migration models either do not handle multiple...

L’objectif de la présente étude est d’estimer un système de demande d’inputs énergétiques pour divers secteurs industriels belges et ce faisant, d’illustrer l’importance empirique de fonder la recherché sur la spécification la plus généralisée disponible. Ainsi, à partir...

For the purpose of this paper, first a simple model of wage determination under the assumption of perfect competition will be developed to find other right hand variables apart from monopoly power characteristics for the regression. Then possible consequence of monopoly power on labour earnings...