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Poor people in developing countries can benefit from saving to take advantage of profitable investment opportunities, to smooth consumption when income is uneven and unpredictable, and to insure ag...
We consider dynamic trading of a portfolio of assets in discrete periods over a finite time horizon, with arbitrary time-varying distribution of asset returns. The goal is to maximize the total expect...
Fiscal and Monetary Stabilization Policies in a Model of Endogenous Cyclical Growth.
The stabilization trade-off between inflation and unemployment is investigated in a continuous time growth model where disequilibrium can occur in the labor market. The emphasis of the paper is on...
The effects of three different inflationary environments—high inflation, low inflation, and negative inflation—on real output stability are examined by looking at the experiences of Japan and the U...
The Annual World Bank Conference on Development Economics is a forum for discussion and debate of important policy issues facing developing countries. The conferences emphasize the contribution that...
The first luncheon was held in 1948 in Cleveland.2 Winthrop Aldrich spoke. He was President of Chase National Bank, then the largest bank in the United States. Aldrich called his talk “The Managem...
This paper documents the evolution of long-run inflation expectations and models the stance of monetary policy from 1965 to 1980. A host of survey-based measures and financial market data indicate t...
This paper analyzes of two kinds of Internet interconnection arrangements: peering relationships between core Internet Service Providers (ISPs) and transit sales by core ISPs toother ISPs. Core backbo...
We theoretically and empirically investigate the repercussions of credit market misvaluation for a firm's borrowing and investment decisions. Using an ex-post measure of the accuracy of credit ratings...
Manufacturers are increasingly being required to adhere to product take-back regulations that require them to manage their products at the end of life. Such regulations seek to internalize products' e...
We study the impacts of bankruptcy risk on the performance of market-based pollution control policies. In chapter one, we concentrate on emissions trading markets. We find that firms that risk bankrup...
The drastic development in industry and increase in p opulation during the past centuries has caused the natural resources depletion, wide spread p ollution and increase on land for fo o d pro duction...
Within this thesis we investigate the effect of asymmetric agent decision making on the coordination of a two echelon supply chain facing consumer returns. On the basis of the classical newsvendor set...

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