Showing 1 - 5 of 5
countries involved. We contrast bargaining and perfect competition. Under perfect capital markets, convergence of capital and … convergence of the income shares, with unionized countries showing a lower wage rate and consequent capital inflows. Therefore …
Persistent link: https://www.econbiz.de/10005090984
The Chilean economy experienced a decade of sustained growth in aggregate output and productivity after the 1982 financial crisis. This paper analyzes the role of allocative efficiency on total factor productivity (TFP) in the manufacturing sector by applying the methodology of Hsieh and Klenow...
Persistent link: https://www.econbiz.de/10010945609
This paper incorporates two features of housing in a life-cycle analysis of social security: housing as a durable good and housing market frictions. We find that both housing quantities and homeownership rates respond strongly to eliminating social security. Accordingly, the aggregate impacts of...
Persistent link: https://www.econbiz.de/10008504402
This paper computes the optimal progressivity of the income tax code in a dynamic general equilibrium model with household heterogeneity in which uninsurable labor productivity risk gives rise to a nontrivial income and wealth distribution. A progressive tax system serves as a partial substitute...
Persistent link: https://www.econbiz.de/10005151163
This paper analyzes the quantitative role of idiosyncratic uncertainty in an economy in which rational agents vote on hypothetical social security reforms. We find that the role of a pay-as-you-go social security system as a partial insurance and redistribution device significantly reduces...
Persistent link: https://www.econbiz.de/10005090974