This Paper Provides a Rationale for the Difference Between Contract and Spot Prices Which Is Not Based on Risk Aversion But on Price Discrimination. We Model the Behaviour of a Large Buyer Who Groups an Advance Delivery Contract for Part of His Requirements. His Remaining Purchases Are Executed...

The Paper Has Two Major Parts. the First Part Focuses on the Theoretical Properties of a General Equilibrium Asset Price Model Describing an Economy with Actual Output Stochastically Generated by a Markovian Latent Process of Technolgical Shocks. with a Concealed State Space Economy, Agents Make...

We Consider in This Paper the Revelation of Quality Through Prices in a Competitive Equilibrium When the Consumers, Which Are All Similar, Do Not Observe Quality Before Buying But Have Rational Expectations About It Conditional on the Price They Observe. We Are Particularly Interested by the...

The Aim of the Paper Is to Develop a New Approach to Inflation Based on Marx's Circuit of Capital and the Structural Price Equation. the Feedback Effect of Any Disequilibrium in the Circuit Has Some Important Consequences on the Price Equation. the Reduced Form of the Model Shows in Particular...

This Paper Is Aimed At Making the Linkage Between on One Hand Fisher Macroeconomic Equation and the Circuit of Capital And, on the Other Hand, the Feed Back Effect of a Disequilibrium in the Circuit to the Price, Interest Rate and Exchange Rate Varaibles. the Paper Is Divided Into Five Parts. in...