Browsing Department of Economics (ECO) by Subject "C61"

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Browsing Department of Economics (ECO) by Subject "C61"

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    Title: Recursive Contracts  Author(s): MARCET, Albert; MARIMON, Ramon Date: 2011 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization sup problems non-recursive. Our approach consists of ...
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    Title: Can Stabilization Policies Be Efficient?  Author(s): SAIDI, Aurélien Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper makes use of optimal control relaxed problems to prove the absence of optimal trajectory in continuous time models with social increasing returns to scale where indeterminacy occurs. Although an efficient optimal ...