Dynamic stability in a two-country model of optimal growth and international trade

Article Abstract:

Though there is an extensive literature on dynamic stability in optimal-growth models of closed economies, analogous work on open-economy models is scarce. To bridge this gap, the saddle-path stability in an infinite-horizon continuous-time model of two countries that grow optimally and trade freely with each other is explored.

Models, International trade, Economies of scale

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Stock grants as a commitment device

Article Abstract:

A dynamic model of managerial compensations, to achieve better risk-sharing and higher firm value through stock grants, is presented.

Science & research, Management Compensation, Research, Executives, Executive compensation, Employee stock options

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Equity premium with distorted beliefs: a puzzle

Article Abstract:

A method to explain the equity premium puzzle using rational and irrational expectations approaches is presented.

Usage, Rational expectations (Economics), Equity (Finance), Return on equity

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