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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…
Keiichiro Kobayashi, Masaru Inaba, Kengo Nutahara
We construct a cash-credit model with positive externalities in the production of credit goods. It is shown that under suitable conditions, the Friedman rule is not optimal and there exists an optimal nominal interest rate that maximizes the social welfare an…
Chu-Ping Lo, Guang-Jong Fann
This paper presents a simple model of monopolistic competition in a North-South world. The North introduces new goods that the South takes over when the goods become old. The new goods are more technology-intensive than the old goods because innovation requir…
Yoshitsugu Kitazawa
In this paper, a simple transformation is proposed for the fixed effects logit model, which constructs some valid moment conditions including the first-order condition for one of the conditional MLE proposed by Chamberlain (1980) [1]. Some Monte Carlo experim…
Diganta Mukherjee, Rajlakshmi Mallik
This paper develops a model of the electoral process for analyzing the voters’ choice faced with two parties. A typical voter is concerned with both local governance issues and macro issues. The relative importance attached by a voter to local and macro conce…
Paolo Di Sia
In this work I offer a brief non-technical, but rigorous report of econophysics; starting from the relations between physics and economics, I focus my considerations about the studied problems and the utilized methods, arriving to present an interesting view…
Masayuki Otaki
It is well known that money is neutral if 1) people hold the extraneous belief that it is an only numeraire and does not possess intrinstic value, and 2) new money is injected into an economy as its own interest in the OLG model under perfect information (Luc…
Paolo Vitale
We study a generalization of Kyle’s (1985) model to the case in which the specialist is risk-averse and does not set the transaction price according to semi-strong form efficiency. We see that Kyle’s call auction market is no longer a robust market structure,…
Michael Fast, Woodrow Clark II
Focus in this paper is on building a science of economics, grounded in understanding of organizations and what is beneath the surface of economic structures and activities. As a science Economics should be concerned with its assumptions, logic and lines of ar…
Óscar Gutiérrez
This paper revisits the principal-agent model with moral hazard when its solution is obtained invoking the first-order-approach. We show that the solution can be economically inconsistent even when “sufficient conditions” ensuring its validity ([1,2]) hold. T…
Yun-Yeong Kim
The paper introduces a stationary vector autoregressive (VAR) representation of the error correction model (ECM). This representation explicitly regards the cointegration error a dependent variable, making the direct implementation of standard dynamic analyse…
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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).