In this paper the existence and stability of equilibriums in an evolutionary game theory model of the labour market is studied by using the Lyapunov method. The model displays multiple equilibriums and it is shown that the Nash equilibriums of the static game are evolutionary stable equilibrium...

In this paper the impact of investment specific technical progress on investment allocation is studied by using an extended version of the Feldman’s two sector model that takes into account embodied technical progress. The aim of the paper is to analyze the impact of investment specific...

In this paper the efficiency of the confiscation as a tool against organized crime is studied by using a general equilibrium model that considers the existence of a representative criminal organization that generates profits that need to be laundered. The main result of the paper shows that if...

This paper studies efficiency wages in the presence of heterogeneous workers and asymmetric information. It includes an incentive compatibility constraint (ICC) in the efficiency wage model with heterogeneous workers to show that the implementation of efficiency wages in the presence of...

The objective of this paper is to analyse the sustainability conditions of the Brazilian public debt since the Real Plan in July 1994. A new concept of liquidity public debt is introduced which is discussed in terms of GDP shares. Its absolute growth is divided among components and its...

In the late 80’s Pasinetti showed that the essential feature of the Cambridge Equation is preserved in his model of growth and income distribution with balanced or unbalanced budget. He did not work out both the share of incomes and the conditions of stability and was not formally concerned...