extent that capital and labor are (imperfect) substitutes, the resulting shift in relative factor prices leads to the …

main …ndings are that in the U.S. labor wedges account for roughly half of the drop in output while efficiency and … investment wedges each account for a quarter of it during the 1929-1933 period while in Western Europe labor wedges account for … more than one-third of the output drop and efficiency, government and investment wedges are responsible for the remaining …

We conduct an experiment to measure the relative importance of key factors that influence the efficiency of household … investment decisions. We find that, both for men and women, their spouse's access to information does not affect efficiency …. However, they are willing to sacrifice much ef¬ficiency for greater personal control over household income. Intriguingly, even …

Does improving creditor coordination by strengthening CACs lead to efficiency gains in the functioning of sovereign …’s incentives are taken into account, we demonstrate the robust possibility of a conflict between ex ante and interim efficiency. We …