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This paper uses a two-country, sticky-price model with non-atomistic wage setters to study the role of collective wage bargaining in the propagation of monetary shocks. I find that the welfare transmissions of a monetary expansion are reinforced by differe ...
This paper presents the comparison of decentralized and centralized market settings in terms of economic efficiencies, particularly price signals, and operating aspects. The decentralized dispatch consists of an energy auction separated from a contingency ...
Since the early 80s, numerous developed and also developing countries on all continents have embarked on reforms of their national electricity sectors with varying degrees of ambition. The reforms were associated with hopes for accelerated innovation, enha ...
We analyze resource allocation problems where N independent agents want to access C resources. Each resource can be only accessed by one agent at a time. In order to use the resources efficiently, the agents need to coordinate their access. We focus on dec ...
We study trade policy in a two-sector Krugman (1980) trade model, allowing for production, import and export subsidies/taxes. We consider non-cooperative and cooperative trade policy, first for each individual instrument and then for the situation where al ...
We study whether monetary policy should target the exchange rate in a two-country model with non-atomistic wage setters, non-traded goods and different degrees of exchange- rate pass through. Commitment to an exchange rate target reduces the labor market d ...
Landfills continue to represent the most frequent managerial practice for municipal solid wastes and an increasing and complex problem globally. In certain countries, a transition to an open society and free market is superimposed on the transition to sust ...
This paper aims at positioning producer cooperatives within the Transaction Cost Economics theory, one of the most cited and prolific theories on management studies. To accomplish this goal, I will answer the questions what is a cooperative, which transact ...
We study the existence of dynamic equilibria with endogenously complete markets in continuous-time, heterogenous agents economies driven by diffusion processes. Our main results show that under appropriate conditions on the transition density of the state ...
In this paper, the decentralized coordination of point-mass autonomous vehicles at intersections using navigation functions is considered. As main contribution, the inertia of the vehicles is taken into account to enable on-board energy optimization for cr ...
