This paper shows that for a time-independent specific tax and a time-independent ad valorem tax that induce the same competitive equilibrium in the Hotelling model of resource extraction, the ad valorem tax yields a higher level of discounted tax revenues than the specific tax. Moreover, given...

The paper presents a synthesis of the economics of exhaustible resources and that of endogenous fertility in an overlapping-generations model. Renewable energy is produced by a backstop, while the consumption good is produced from energy – provided by the backstop or from a stock of...

This paper examines the formation of trade policy for a small open developing economy where lobbying activities may be carried out to influence policy-making decisions. The paper presents a three-sector economy in which the manufacturing sector can lobby policymakers for favorable policies....

In this paper, we establish theorems of the alternative for a system described by inequalities, equalities and an inclusion, which are generalizations of Tucker's classical theorem of the alternative, and develop Kuhn-Tucker necessary conditions for efficiency to mathematical programs in normed...

This paper deals with a multiobjective programming problem involving both equality constraints in infinite dimensional spaces. It is shown that some constraint qualifications together with a condition of interior points are sufficient conditions for the invexity of constraint maps with respect...

This paper analyzes the transitional dynamics in a model of economic growth with endogenous technological change and two alternative sources of energy: renewable and non-renewable resources. The conditions for the existence and saddle point property of the steady state are given. Finally, we...

We consider a general equilibrium model in asset markets with a countable set of states and expected risk averse utilities. The agents do not have the same beliefs. We use the methods in Le Van - Truong Xuan (JME, 2001) but one of their assumption which is crucial for obtaining their result...

The paper extends the canonical representative agent Ramsey model to include heterogeneous agents and elastic labor supply. The welfare maximization problem is analyzed and shown to be equivalent to a non-stationary reduced form model. An iterative procedure is exploited to prove the...