We study international environmental negotiations when agreements between countries can not be binding. A problem with this kind of negotiations is that countries have incentives for free-riding from such agreements. We ...

In this paper, I examine the treatment of competitive profit of professor Varian in his textbook on Microeconomics, as a representative of the “modern” post-Marxian view on competitive profit. I show how, on the one hand, ...

In this article an index decomposition methodology is used to estimate the effect of intersectorial and intrasectorial changes in explaining the 38% reduction in industrial energy intensity in the Basque Autonomous Community ...

I contend that Keynes provides two contradictory definitions of aggregate income. According to the first definition, which is the dominant in Keynes as well as the standard in current Macroeconomics, the full value of ...

Global environmental problems such as climate change have both an international and an intertemporal dimension. Recently, some papers have used an overlapping generations framework to analyze the climate change problem ...

Drift appears to be crucial to study the stability properties of Nash equilibria in a component specifying different out-of-equilibrium behaviour. We propose a new microeconomic model of drift to be added to the learning ...

Los sistemas de pensiones públicas de reparto con prestación definida a lo largo del mundo se están convirtiendo a planes de aportación definida capitalizados, donde los agentes eligen sus carteras de acciones y bonos. A ...

The paper presents a framework where the most important single-valued solutions in the literature of TU games are jointly analyzed. The paper also suggests that similar frameworks may be useful for other coalitional models.

The aim of this paper is to analyze whether endogenous growth RBC models are consistent with two stylized facts about U.S. output dynamics. First, GNP growth is positively correlated in the short run and it has a weak ...

In this paper, we analyze the effect that the timing of wage setting (i. e. whether wages set sequentially or simultaneously) has on the investment in R&D of firms, when that investment increases the productivity of labor, ...