In this paper, we analyze the problem of optimal domestic credit expansion for a small open economy.

In this paper, we analyze the problem of optimal domestic credit expansion for a small open economy.

In an overlapping generaions model where the production requires two essential inputs, on of which is non-renewable, say oil, but could be replaced by an everlasting substitute, say solar (the backstop), capital accumulation and fertility decisions emerged from the optimizing behavior of...

Recently, the issue of worldwide environmental quality has been discussed in the context of trade liberalization on a global scale. Two diametrically opposite tenets have been recorded. According to one tenet - the cons-increasing opportunities for profitable exchange created by trade...