DOCUMENT DE RECHERCHE EPEE CENTRE D’ETUDES DES POLITIQUES ECONOMIQUES DE L’UNIVERSITE D’EVRY Growth and financial liberalization under capital collateral constraints: The striking case of the stochastic AK model with CARA preferences

DOCUMENT DE RECHERCHE EPEE CENTRE D’ETUDES DES POLITIQUES ECONOMIQUES DE L’UNIVERSITE D’EVRY Ecological Barriers and Convergence: A Note on Geometry in Spatial Growth Models

DOCUMENT DE RECHERCHE EPEE CENTRE D’ETUDES DES POLITIQUES ECONOMIQUES DE L’UNIVERSITE D’EVRY Intertemporal equilibrium with production: bubbles and efficiency

We consider a general equilibrium model with heterogeneous agents, borrowing constraints, and exogenous labor supply. First, the existence of intertemporal equilibrium is proved even if the aggregate capitals are not uniformly bounded above and the production functions are not time invariant. Second, we call by physical capital bubble a situation in which the fundamental value of physical capit...

Growth and Financial Liberalization under Capital Collateral Constraints: The Striking Case of the Stochastic AK model with CARA Preferences

We consider a small-open, collateral-constrained AK economy. We show that the combination of CARA preferences and uncertainty on capital inflows in such an economy generates long-term (expected) growth while the deterministic counterpart does not. In this framework, long-term growth is entirely driven by precautionary savings. In particular, we show that the asymptotic growth rate of the expect...

Portfolio selection through imprecise Goal Programming model: Integration of the manager`s preferences

In the portfolio selection problem, the manager considers several objectives simultaneously such as the rate of return, the liquidity and the risk of portfolios. These objectives are conflicting and incommensurable. Moreover, the objectives can be imprecise. Generally, the portfolio manager seeks the best combination of the stocks that meets his investment objectives. The imprecise Goal Program...

Evaluation of camel milk as an extender for short-term storage of ram semen at 15°C

The purpose of the present study was to assess the effect of modified camel milk (MCAM) and skim cow milk (SCOM) on semen quality of INRA180 and Boujaâd ram breeds, stored at 15°C for up to 24 hours. Semen samples were collected from eleven mature rams (6 from INRA180 and 5 from Boujaâd rams) and extended in SCOM vs MCAM, to reach a final concentration of 0.8×109 spermatozoa/mL, and stored at 1...