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A Structure Analysis of the Correlated Random Coefficient Wage Regression Model

Belzil, Christian; Hansen, Jörgen - C.E.P.R. Discussion Papers - 2002

We estimate a finite mixture dynamic programming model of schooling decisions in which the log wage regression function is set in a random coefficient framework. The model allows for absolute and comparative advantages in the labour market and assumes that the population is composed of eight...

Persistent link: https://www.econbiz.de/10005136691

Wages and Productivity Growth in a Dynamic Monopoly

Bester, Helmut; Petrakis, Emmanuel - C.E.P.R. Discussion Papers - 2001

This Paper studies the inter-temporal problem of a monopolistic firm that engages in productivity-enhancing innovations to reduce its labour costs. If the level of wages is sufficiently low, the firm's rate of productivity growth approaches the rate of wage growth and eventually the firm reaches...

Persistent link: https://www.econbiz.de/10005067455

Earnings Dispersion, Risk Aversion and Education

Belzil, Christian; Hansen, Jörgen - C.E.P.R. Discussion Papers - 2002

We estimate a dynamic programming model of schooling decisions in which the degree of risk aversion can be inferred from schooling decisions. In our model, individuals are heterogeneous with respect to school and market abilities but homogeneous with respect to the degree of risk aversion. We...

Persistent link: https://www.econbiz.de/10005067578

A Dynamic Model of Price Discrimination and Inventory Management at the Fulton Fish Market

Graddy, Kathryn; Hall, George - C.E.P.R. Discussion Papers - 2009

We estimate a dynamic profit-maximization model of a fish wholesaler who can observe consumer characteristics, set individual prices, and thus engage in third-degree price discrimination. Simulated prices and quantities from the model exhibit the key features observed in a set of high quality...

Persistent link: https://www.econbiz.de/10005036234

Revisiting Dynamic Duopoly with Consumer Switching Costs

Padilla, Atilano Jorge - C.E.P.R. Discussion Papers - 1993

The degree of collusiveness of a market with consumer switching costs is studied in an infinite-horizon overlapping-generations model of duopolistic competition. In contrast to previous models of switching costs, this paper assumes that firms compete for the demand for a homogeneous good by...

Persistent link: https://www.econbiz.de/10005788939

Dynamic Mean-Variance Asset Allocation

Basak, Suleyman; Chabakauri, Georgy - C.E.P.R. Discussion Papers - 2009

Mean-variance criteria remain prevalent in multi-period problems, and yet not much is known about their dynamically optimal policies. We provide a fully analytical characterization of the optimal dynamic mean-variance portfolios within a general incomplete-market economy, and recover a simple...

Persistent link: https://www.econbiz.de/10005656376

Do Food Scares Explain Supplier Concentration? An Analysis of EU Agri-food Imports

Cadot, Olivier; Jaud, Mélise; Suwa Eisenmann, Akiko - C.E.P.R. Discussion Papers - 2009

This paper documents a decreasing trend in the geographical concentration of EU agro-food imports. Decomposing the … their agri-food products from a wider range of suppliers), while geographical concentration increases at the intensive … food alerts at the EU border that had never been exploited before. After coding it into HS8 categories, we regress the …

Persistent link: https://www.econbiz.de/10005014570

Ageing, Migration and Labour Mobility

Winkelmann, Rainer; Zimmermann, Klaus F - C.E.P.R. Discussion Papers - 1992

This paper provides insights into the relationship between the substantial ageing of the European labour force, large migration movements, and individual labour mobility. First, qualitative predictions are derived using the theory of production with multiple inputs. Second, quantitative...

Persistent link: https://www.econbiz.de/10005123866

Understanding the Home Market Effect and the Gravity Equation: The Role of Differentiating Goods

Feenstra, Robert; Markusen, James R.; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998

This paper argues that the theoretical foundations for the gravity equation are general, while the empirical performance of the gravity equation is specific to the type of goods examined. Most existing theory for the gravity equation depends on the assumption of differentiated goods. We show...

Persistent link: https://www.econbiz.de/10005123876

Specialization Patterns and the Factor Bias of Technology

Cuñat, Alejandro; Maffezzoli, Marco - C.E.P.R. Discussion Papers - 2007

Development accounting exercises based on an aggregate production function find technology is biased in favour of a country's abundant production factors. We provide an explanation to this finding based on the Heckscher-Ohlin model. Countries trade and specialize in the industries that use...

Persistent link: https://www.econbiz.de/10005136510