The present paper generalizes the Weitzman-Hartwick approach to national income accounting. The authors first establish a close general relation between the current value Hamiltonian of an optimal control problem and the optimal value of the objective integral if the time argument does not enter...

The model developed by Devarajan and Go [Devarajan S., & Go S. (1998). The simplest dynamic general-equilibrium model of an open economy. Journal of Policy Modeling, 20(6), 677-714] presents the simplest possible general-equilibrium model of an open economy in which producers' and consumers'...

One of the key features of the CAP 2014 reforms is the requirement for Member States currently distributing direct payments to farmers on the basis of historic support levels to switch an area-based payment scheme. This paper explores effects of this shift for both the farm sector and the wider...

This paper examines the assumption that activity time is independent of firm size (measured by the number of employees). Existing theories on (dis)economies of scale and scope and wage differentials are unclear on what to expect. For relatively complex activities such as becoming familiar with...

This report outlines the MISTRAL model (Administrative Compliance Cost Assessment Tool), by emphasising the issues of when a model may be applied, why it will be applied, how the model works and why the model should be used. The report concludes by narrating several results obtained on the basis...

For the mitigation of long-term pollution threats, one must consider that both the process of environmental degradation and the switchover to new and cleaner technologies are dynamic. We develop a model of a uniform good that can be produced by either a polluting technology or a clean one; the...

Three factors of economic growth, i.e., physical capital accumulation, schooling, and learning by doing, are investigated. The special relationship between the first factor and the other two is modeled through adjustment costs in production experience accumulation whenever the production...