Explore intertemporal equilibrium, an essential economic concept that analyzes how current and future decisions affect ...

In this paper, we model the process of international investment flows when agents face strategic motives. We show in a fully rational framework that foreign investment crises can occur when the ...

This paper uses recursive competitive theory to develop a general equilibrium asset pricing model. In this framework all prices and rates of return are endogenously determined, thus enabling us to ...

In Have Economists Gone Mad?, Paul Ormerod points out a breakdown in economic thought. He is agog at a recent article by Michael Woodford in an economics journal, which says in part "it is now widely ...