I provide a novel dynamic model with private provision of public bads and investments in technologies. The analysis is tractable and the MPE unique. By adding incomplete contracts, I derive implications of and for international climate treaties. While the non-cooperative equilibrium is bad, short-term agreements are worse due to hold-up problems. A long-term agreement should be more ambitious i...

Although movements of capital, goods and services are growing in importance, workers movements are impeded by restrictive policies in rich countries. Such regulations carry substantial economic costs for developing countries, and prevent global inequality from declining. Even if rich countries are averse to global inequality, a single country lacks incentives to welcome additional migrants as i...

There is a strong presumption among economists that domestic reforms are promoted by regionalism. Yet strong empirical evidence for this proposition is lacking. This paper examines both the theoretical arguments and empirical evidence on this issue, drawing on the relevant economic, political, and legal literature. The authors argue that in general, the case for reciprocity in domestic reforms ...

The global recession caused by the COVID-19 pandemic and resulting deterioration in many countries’ public finances have increased risk of sovereign debt crises. Although crisis prevention remains paramount, these developments made it imperative to re-examine adequacy current toolkit for management resolution, a context where changes creditor base composition instruments brought about new chall...

This paper compares the benefits to Greece, Euro zone and rest of world arising from policies that prevent a Greek default exit with costs preventive policies. It concludes exceed costs, though unpredictable politics nationalist aspirations may adoption rational The also considers causes Greece’s problems: failure lenders ask for proper risk premium on country’s bonds; publication false economi...

In order to effectively prevent and control the problem of water inrush from through-type fault floor, based on analysis case data structure in Fengfeng mining area, types karst floor are divided into 3 categories, 6 subcategories, 17 fine categories. Four modes summarized: composite inrush, roof crack expansion vertical inrush. Based grey correlation theory combined with Analytic Hierarchy Pro...