Motivated by the complicated control issues of COVID-19, this article aims at investigating the optimal control of an epidemic of a Susceptible-Infective-Removed-Susceptible (SIRS) infection, where social distancing is the only control action in a first stage, whereas a combination of social...

In this paper we show that we can replace the assumption of constant discount rate in the onesector optimal growth model with the assumption of decreasing marginal impatience without losing major properties of the model. In particular, we show that the steady state exists, is unique, and has a...

The aim of this research is to build on a theory for explaining economic development in a (neoclassical) growth model with endogenous fertility. The economy is comprised of overlapping generations of rational and identical individuals and identical competitive firms producing with a...

A central policy issue in the battle against HIV in Sub-Saharan Africa (SSA) is whether and when high-prevalence countries might become fully autonomous in designing and implementing their own intervention policies aimed to control the disease. The aim of this research is twofold. First, it...

Within a financial market where a risk-free bond and a long-lived risky asset are exchanged by investors with heterogeneous trading rules, we assume that the investors most exposed to the risky asset are subject to joint liquidation needs. The latter encompass a risk whenever the market impact...

While rational expectations models with time-varying (random) coefficients have gained some esteem, the understanding of their dynamic properties is still in its infancy. The paper adapts results from the theory of random dynamical systems to solve and analyze the stability of rational...

This paper presents an analysis of the implications it has on standard growth models assume an alternative hypothesis to the exponential growth of the population and how modeling time can alter the dynamic behavior of these models. An extension (in continuous time and discrete time) of the...

The issue of poverty traps is assessed using quantile regression. For that an augmentation of the usual convergence regressions by quadratic and cubic terms is used with emphasis on curve fitting rather than parameter estimation. The results show that the generic mechanism leading to poverty...

This paper examines the stability of balanced paths of expansion or contraction in closed macroeconomic models as typical cases of homogeneous dynamical systems. Examples of known two-dimensional deterministic and stochastic models are discussed. The appendix presents the mathematical tools and...

We study the impact of intra-industry trade and capital mobility on steady state welfare and on the stability properties of two countries with identical technologies and preferences. We consider a two-factor overlapping generations model, featuring one-sector of differentiated goods with taste...