980 resultados para Dynamic Mirrlees Economy
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Introduction The strange chaotic attractor (ACS) is an important subject in the nonlinear field. On the basis of the theory of transversal heteroclinic cycles, it is suggested that the strange attractor is the closure of the unstable manifolds of countable infinite hyperbolic periodic points. From this point of view some nonlinear phenomena are explained reasonably.
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The vibration analysis of an elastic container with partially filled fluid was investigated in this paper. The container is made of a thin cylinder and two circular plates at the ends. The axis of the cylinder is in the horizontal direction. It is difficult to solve this problem because the complex system is not axially symmetric. The equations of motion for this system were derived. An incompressible and ideal fluid model is used in the present work. Solutions of the equations were obtained by the generalized variational method. The solution was expressed in a series of normalized generalized Fourier's functions. This series converged rapidly, and so its approximate solution was obtained with high precision. The agreement of the calculated values with the experimental result is good. It should be mentioned that with our method, the computer time is less than that with the finite-element method.
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been analyzed in detail. The effects ofm icroscopic energy transfer from
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This paper investigates the exploitation of environmental resources in a growing economy within a second-best scal policy framework. Agents derive utility from two types of consumption goods one which relies on an environmental input and one which does not as well as from leisure and from environmental amenity values. Property rights for the environmental resource are potentially incomplete. We connect second best policy to essential components of utility by considering the elasticity of substitution among each of the four utility arguments. The results illustrate potentially important relationships between environmental amentity values and leisure. When amenity values are complementary with leisure, for instance when environmental amenities are used for recreation, taxes on extractive goods generally increase over time. On the other hand, optimal taxes on extractive goods generally decrease over time when leisure and environmental amenity values are substitutes. Unders some parameterizations, complex dynamics leading to nonmonotonic time paths for the state variables can emerge.
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Published as an article in: European Economic Review, 2008, vol. 52, issue 1, pages 1-27.
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This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08.
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This paper analyzes whether a minimum wage can be an optimal redistribution policy when distorting taxes and lump-sum transfers are also available in a competitive economy. We build a static general equilibrium model with a Ramsey planner making decisions on taxes, transfers, and minimum wage levels. Workers are assumed to differ only in their productivity. We find that optimal redistribution may imply the use of a minimum wage. The key factor driving our results is the reaction of the demand for low skilled labor to the minimum wage law. Hence, an optimal minimum wage appears to be most likely when low skilled households are scarce, the complementarity between the two types of workers is large or the difference in productivity is small. The main contribution of the paper is a modelling approach that allows us to adopt analysis and solution techniques widely used in recent public finance research. Moreover, this modelling strategy is flexible enough to allow for potential extensions to include dynamics into the model.