In this paper, we examine techniques for the analytical and numerical solution of statedependent differential-difference equations. Such equations occur in the continuous time modelling of vintage capital growth models, which form a particularly important class of models in modern economic...

In this paper we present some contingent claim analysis’ models for the firm value. We focus on two different approaches: the structural (Merton) approach and a new one that treats the asset value as a claim on the firm’s securities. The non-observability of the assets’...

This paper deals with an assessment of the economic costs of environmental policies in the Netherlands, using a dynamic Applied General Equilibrium model with bottom-up information on abatement techniques. Empirical abatement cost curves are used to determine substitution possibilities between...

In the standard models of North-South technological-knowledge diffusion, the larger the initial technological-knowledge gap between countries is, the higher the Southern catching up. However, this result does not adjust well to Southern reality as a whole. The purpose of this paper is to...