We propose a general model of monopolistic competition, which encompasses existing models while being flexible enough to take into account new demand and competition features. Using the concept of Frechet differentiability, we determine a general demand system. The basic tool we use to study the...

The purpose of the presentation is to analyze the labor market effects of a congestion charge when commuters have continuously distributed value of time. Since a congestion charge raises the cost of commuting to work, it can decrease employment at the extensive margin in a similar way as an...

The present paper studies the modelling of inter-regional trade flows in the newly developed general equilibrium model of European Commission, Rhomolo. In contrast to international trade, usually, trade of goods and services between regions is not recorded statistically. As a result, no...

This paper analyzes socially responsible investment in the Walrasian model with uncertainty. It proves the following neutrality result: if each consumer's utility function with social responsibility is a function of her utility without social responsibility and asset holdings and if financial...

The growing popularity of fintechs has led the Financial Stability Board (FSB) to publish considerations about the effects of this emerging industry on stability and efficiency in the financial sector. Against this background, this paper compares the effects of competition and collaboration...

The article is concerned with understanding the impact of social preferences and wealth inequality on aggregate economic outcomes. We investigate how different manifestations of other-regarding preferences affect incentive contracts at the microeconomic level and how these in turn translate into...