In a model with costly financial intermediation and financial disturbances, credit subsidies are desirable, irrespective of how they are financed. They are especially useful when the zero lower bound constraint is reached. They are superior to other credit policies such as direct lending.

E-commerce has experienced a remarkable growth in recent years. This trend is gradually driving retailers to shift from typical warehouse rental contracts with rigid conditions and long-term commitments to flexible alternatives that provide storage space on demand. This strategy gives retailers...

This paper addresses a new problem to design a two-echelon supply chain network over a multi-period horizon. Strategic decisions are subject to a given budget and concern the location of new facilities in the upper and intermediate echelons of the network as well as the installation of storage...

We address an extension of the classical multi-period facility location problem in which customers are sensitive to delivery lead times. Accordingly, two customer segments are considered. The first segment comprises customers that require timely demand satisfaction, whereas customers accepting...

We investigate a recently introduced extension of the multi-period facility location problem that considers service-differentiated customer segments. Accordingly, some customers require their demands to be met on time, whereas the remaining customers accept delayed deliveries as long as lateness...

We address a stochastic multi-period facility location problem with two customer segments, each having distinct service requirements. While customers in one segment receive preferred service, customers in the other segment accept delayed deliveries as long as lateness does not exceed a...

We consider a multi-period facility location problem that takes into account changing trends in customer demands and costs. To this end, new facilities can be established at pre-specified potential locations and initially existing facilities can be closed over a planning horizon. Furthermore,...

This study addresses a two-echelon network design problem that determines the location and size of new warehouses, the removal of company-owned warehouses, the inventory levels of multiple products at the warehouses, and the assignment of suppliers as well as customers to warehouses over a...

We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on the Southern European crisis of the early 2010s and the Argentine default of 2001. The source of multiplicity is the one in Calvo (1988). Key for multiplicity is an output process featuring long...

In this paper we determine the optimal combination of taxes on money, consumption and income in transaction technology models. We show that the optimal policy does not tax money, regardless of whether the government can use the income tax, the consumption tax, or the two taxes jointly. These...