The overlapping generations model presented herein requires incorporation of exactly three periods in which one lives, but makes intertemporal decision-making twice, neither once nor three times. Single decision-making at the outset, none thereafter, ignores the fact that one makes decisions...

The paper examines the relevance of international scale economies and international market efficiency of trade based on the firm-level data of Taiwanese manufacturing industries. The author first constructs a simple analytical framework to measure the extent of scale economies and total factor...

A thorough analysis of sustainable development requires a better understanding of how economic and ecological systems interact over the long run. This paper provides an integrated model to analyze interactions between economic and ecological systems. The linkages between these two systems are...

This paper analyzes Walrasian general equilibrium systems and calculates the static and dynamic solutions for competitive market equilibria. The Walrasian framework encompasses the basic multi-sector growth (MSG) models with neoclassical production technologies in N sectors (industries). The...