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This paper characterizes optimal education and population policies within a continuous-time overlapping generations (OLG) framework where fertility, schooling duration, and health expenditures are …
We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration …
This paper considers average inflation targeting (AIT) policy in a New Keynesian model with adaptive learning agents. Our analysis raises concerns regarding robustness of AIT when agents have …