Trust is particularly important in online markets to facilitate the transfer of sensitive consumer information to online retailers. In electronic markets, various proposals have been made to facilitate these information transfers. We develop analytic models of hidden information to analyze the...

This study investigates the rationale behind the 2007 removal of the fodder subsidy in Jordan and the effects this had on livestock owners in the Northern Badia. Furthermore, it examines possible solutions for improving the efficiency of the sector as well as its sustainability. The...

Mutual funds have become a staple for retirement savings and have received much research attention. Bond funds, though, have received little attention to date, and the effects of fund size on performance are still in dispute. Using cross sectional and time series regression analysis, the...

General financial models have become workhorse models in the fields of macroeconomics and finance. These models have been developed and extensively studied by general equilibrium theorists. What makes them so applicable for macroeconomics and finance is the well accepted fact that models with a...

We quantify the effect of financial leverage on stock return volatility in a dynamic general equilibrium economy with debt and equity claims. The effect of financial leverage is studied both at a market and a firm level where the firm is exposed to both idiosyncratic and market risk. In a...

This paper considers the generalized second-best analytics of optimal restructuring under a political constraint, building on the modeling approach in Dehejia (1997). It is shown that the second-best optimum entails administering the terms of trade shock fully at the initiation of the reform,...

O objetivo desse artigo é determinar os impactos da criação da Área de Livre Comércio das Américas (ALCA), a partir de uma desoneração tributária, na economia brasileira. Para isso, foram analisados diversos cenários que contam, além da eliminação das tarifas ao comércio entre os...

In this paper we use a general equilibrium model of Vietnam, calibrated to 1995 data, to analyze tax reform options for Vietnam. We focus on aggregate welfare impacts as well as welfare of household groups ranked by income. The main focus is on indirect tax reform (VAT), but we also examine...

A three-good-two-primary-factor (3x2) general equilibrium model, along with parallel numerical illustrations, is developed to analyze the incidence and welfare cost of several taxes. The approach, blending theory and computed examples, enriches some well-known tax models and provides more...