The present paper thoroughly explores second-best efficient allocations in an adverse selection insurance economy. We start from a natural extension of the classical model, assuming less than perfect risk perceptions. We propose first and second welfare theorems, by means of which we describe efficiencyenhancing policies. Notions of weak and strong adverse selection are promising for interpreti...

We analyse, from a worldwide view, the evolution of real Gross Domestic Product, Population and Gdp per inhabitant and the main differences in the levels of development are explained having into account the results of several cross-country models. The main conclusions highlight the necessity of new international policies for improving the educative level of population in less developed countrie...

A critical review of cointegration is presented in this paper, emphasizing some limitations of this approach to testing causal relations in Econometrics. We present an application of cointegration tests to the relation between Private Consumption and Gross Domestic Product in 25 OECD countries, during the period 1960-97, and the results confirm those limitations and the convenience of giving mo...

Besides those durational differences due to the binary quantity opposition in both vowels and consonants, there are many systematic effects on segment durations within the domain of accentual F0 movement in Finnish. Some such effects are shown in this paper, and it is argued that their motivation is to contribute to a uniform realisation of accent irrespective of segmental word structure.

An identity links the rate of economic growth, the speed of poverty reduction and changes in the distribution of income during some time period in a given country. A few authors used that identity to understand the causes for observed changes in poverty and to identify the exact role of economic growth in poverty reduction. Yet, many empirical cross-country studies of the relationship between g...