In light of the recent tit-for-tat trade dispute between China and US, interest in quantifying effects so-called phase one agreement has risen. To this end, paper quantifies impact asymmetric managed using such a multi-country open-economy dynamic general equilibrium model. Besides assessing direct implications for diversion are also analyzed. The model-based analysis finds noticeable positive ...

This paper deals with economic incentives and welfare-state arrangements in OECD countries; it also offers some lessons for wouldbe welfare states. These arrangements differ, of course, among OECD countries. In particular, there is wide variation in the extent to which countries rely on four basic institutions the state, the firm, the family and the market. Countries also differ in their relian...

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This is a purely theoretical project aimed at studying economic models with asymmetric information. The construction and study of the models of this type are a problem of great theoretical significance developing microeconomic theory and the theory of general economic equilibrium. Our analysis is based on a contractual approach proposed and developed by Marakulin in a series of papers. Studies ...

The information age has brought with it the promise of unprecedented economic growth based on the efficiencies made possible by new technology. This same greater efficiency has left society with less and less time to adapt to technological progress. Perhaps the greatest cost of this progress is the threat to privacy we all face from unconstrained exchange of our personal information. In respons...

BACKGROUND Advances in therapies for rheumatoid arthritis (RA), particularly biologics, have transformed the treatment paradigm for RA. However, the associated costs of these therapies result in a significant economic burden on the healthcare system. As a chronic disease requiring lifelong treatment, most health plans now position RA drugs as a high-priority therapeutic category. OBJECTIVE To...

Innovation is essential for sustaining growth and economic development in a world that faces population increase, natural resource depletion, and environmental challenges. Incentives play a critical role in innovation because the required research and development activities are costly, and the resulting knowledge has the attributes of a public good. This paper discusses the economics of institu...