We study a small open economy displaying Pareto-distributed wealth resulting from random death. The government runs distribution scheme on inheritance. present the mathematical background that allows to dynamics of means. end up with ordinary differential equations for mean age and individual wealth. also distributional analytically. Starting any wealth, aggregate converges, both transition pat...

In this work, I construct an extended model of the Heckscher-Ohlin model, in which there is an assignment problem of how to assign workers to two types of endowments, skilled and unskilled labor. In the comparative statics for a small open economy, when product prices change, the outputs change more than in the HeckscherOhlin model. In the comparative statics for a whole economy, when consumer ...

In this paper I study a tragedy-of-the-commons model: a small open economy composed of different groups that compete for access to government resources and a government can save and borrow from risk-neutral foreigners. I show that the same economic forces that generate overspending in a tragedy-of-the-commons model can also guarantee that a small open economy repays its sovereign obligations. T...

Preliminary Draft Comments welcome This paper studies the role of banks in the propagation of nominal shocks in a small open economy. It builds on the framework developed in Edwards and Végh (1997), by relaxing the assumption of perfect asset substitutability between foreign and local bonds. The main results are as follows. Financial liberalization induces a decrease in loan spreads, an expansi...

Open Source Software (OSS) is widely used as it offers several advantages such as cost saving, security and ability to modify the source code, which encourages companies to adopt it [1]. Morocco like many countries has been hit by the global crisis that affected its economy; several companies of different sizes have closed and employees were left without a fixed workplace. The objective of this...