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Theoretical Economics Letters (TEL) is an openly accessible journal published bimonthly. The goal of this journal is to provide a platform for scientists and academicians all over the world to promote, share, and discuss various new issues and developments in different areas of theoretical economics. All manuscripts m…
Ufuk Devrim Demirel
This study proposes an alternative procedure to identify technology shocks using vector autoregressions (VARs). The proposed procedure delivers improved small-sample properties relative to the standard long-run identification method provided that the dynamics…
Thomas Randolph Beard, George S. Ford, Liliana V. Stern, Michael L. Stern
We show that in a dynamic general equilibrium model theft lowers social welfare even if it is costless to steal, there is no theft prevention cost, and all stolen goods are immediately returned to society. Theft lowers social welfare because it distorts the i…
Manuel A. Gómez
This note analyzes the equilibrium dynamics in the neoclassical growth model with habit-forming preferences and elastic labor supply. Habits enter into utility in a multiplicative way. The specification of the habit formation process comprises the particular…
Michael K. Wohlgenant
This paper generalizes the model of Becker, Grossman, and Murphy (1994) to the multivariate case. The multivariate model generates Frisch demand functions where current consumption is related to prices of all goods, and lagged and future consumption of all go…
Paolo Liberati
This paper introduces social considerations into the calculation of the price index. To this purpose, recourse is made to the concept of distributional characteristic. It is shown how an aggregate price index can be expressed as a weighted average of commodit…
Taiki Takahashi
Roles of emotion in decision-making have been attracting attention in neuroeconomics and behavioral game theory. We mathematically demonstrate that “emotion interference”, a recently-discovered psychological phenomenon [1] helps to solve social dilemma in a o…
Wataru Johdo
Most existing theoretical studies on home market effects depend crucially on the assumption of increasing returns to scale technology. This paper studies the consequences of the absence of increasing returns to scale on home market effects by employing a cons…
Masayuki Otaki
This short article shows that the functional equation on the equilibrium price function is more complicated than that considered by Lucas [1], and that modification is required to complete the proof. Furthermore, we shall provide a sufficient condition that g…
Soosung Hwang, Stephen E. Satchell
We provide some exact results for an asset pricing theory test statistic based on the average F distribution. This test is preferred to existing procedures because it deals with the case of more assets than data points. The case mentioned is the practical one…
Kengo Nutahara
A news-driven business cycle is a positive comovement of consumption, output, labor, and investment from the news about the future. We show that nominal rigidities, especially sticky prices, can cause it in a medium-scale DSGE economy through countercyclical…
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Theoretical Economics Letters (TEL) is an openly accessible journal published bimonthly. The goal of this journal is to provide a platform for scientists and academicians all over the world to promote, share, and discuss various new issues and developments in different areas of theoretical economics. All manuscripts m… All articles are open access under a CC BY 4.0 licence, with authors retaining copyright.
Authors submit their manuscript, metadata, and declarations through the portal. There is no submission fee.
The editorial office screens the manuscript for scope, completeness, and formatting before assigning a handling editor.
At least two independent reviewers evaluate the manuscript under single-blind review. Where revisions are required, authors respond point by point.
On acceptance the article processing charge is invoiced and the CC BY 4.0 copyright handover is signed.
The article is copyedited, typeset, and given a DOI, then publishes open access with a permanent link.
Manuscripts must be original and not under consideration elsewhere. Submit in Microsoft Word or LaTeX with figures at 300 dpi minimum. Structure research articles as Abstract, Introduction, Methods, Results, Discussion, and References.
Use the journal's numbered (Vancouver) reference style. Cite sources consecutively in the order they appear, and ensure every reference is complete and retrievable.
Declare all funding sources, conflicts of interest, and ethical approvals (including informed consent and animal-care statements where applicable).