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The Misallocation of Resources of Anticipated Inflation
Frenkel, Michael; Mehrez, Gil - EconWPA - 1997
This paper analyzes the effects of anticipated inflation on the resource allocations between production and financial services. We develop a model with heterogeneous workers and two sectors economy. A manufacturing sector producing a final composite good and a financial sector providing monetary...
Persistent link: https://www.econbiz.de/10005126418
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Is Variation in Hours of Work Driven by Supply or Demand? Evidence from Finnish Manufacturing Industries
Böckerman, Petri; Jäntti, Markus - EconWPA - 2005
This paper uses panel data from 1989 to 1995 on blue-collar workers in Finnish manufacturing industries and their establishments to assess the extent to which hours of work are affected by individual or establishment characteristics - observed as well as unobserved. We argue that recent research...
Persistent link: https://www.econbiz.de/10005125720
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CIRCULAR VARIABLE WORK IN PROCESS
Vildosola, Luis - EconWPA - 2002
This work is focused on identifying a circular pull production control system (PPCS) and make emphasis on the presence of a stability attribute. It is an introductory paper to an extended study of macroeconomic financial stability in a physically open but systemic closed system. Previous work...
Persistent link: https://www.econbiz.de/10005126234
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Heterogeneity and Aggregation in the Labor Market: Implications for Aggregate Preference Shifts
Chang, Yongsung; Kim, Sun-Bin - EconWPA - 2004
The cyclical behavior of hours worked, wages, and consumption does not conform with the prediction of the representative agent with standard preferences. The residual in the intra-temporal first-order condition for commodity consumption and leisure is often viewed as a failure of labor-market...
Persistent link: https://www.econbiz.de/10005076681
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From Individual to Aggregate Labor Supply: A Quantitative Analysis Based on a Heterogeneous Agent Macroeconomy
Chang, Yongsung; Kim, Sun-Bin - EconWPA - 2003
We investigate the mapping from individual to aggregate labor supply using a general equilibrium heterogeneous-agent model with an incomplete market. The nature of heterogeneity among workers is calibrated using wage data from the PSID. The gross worker flows between employment and nonemployment...
Persistent link: https://www.econbiz.de/10005126339
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Employment in Poland 2005
Bukowski, Maciej; Lewandowski, Piotr; Magda, Iga; … - EconWPA - 2005
This publication is a non-technical report prepared for Polish Ministry of Economy and Labor. The main goal is to present a comprehensive statistical and econometric analysis of employment, unemployment and participation in Poland in the period 1998-2004 and confront Polish experiences with...
Persistent link: https://www.econbiz.de/10005556757
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Borrowing Constraints, Portfolio Choice, and Precautionary
Haliassos, Michael; Hassapis, Christis - EconWPA - 1998
This paper studies effects of two classes of borrowing constraints, collateral- and income-based, on wealth accumulation, portfolio behavior and on precautionary motives. We examine the sensitivity of solutions to tightness of constraints, education level, and preference parameters. The models...
Persistent link: https://www.econbiz.de/10005412592
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OUTPUT, EMPLOYMENT AND PRICES IN AN ECONOMY WITH ADJUSTMENT COSTS
Mehrez, Gil - EconWPA - 1996
This paper investigates the dynamics of output, employment and prices in an economy with costs of adjusting labor and prices. In an economy with non convex adjustments costs, firms do not adjust labor and prices continuously to accommodate every shift in demand. Rather, firms adjust employment...
Persistent link: https://www.econbiz.de/10005412577
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State Dependent Adjustment in an Economy with Seasonal Fluctuations
Mehrez, Gil - EconWPA - 1996
Much research on the dynamics of the aggregate economy concerns the adjustment policy of the microeconomic units. This paper investigates the optimal adjustment policy when there are seasonal fluctuations and fixed adjustment costs. The optimal policy in this case can be described in terms of...
Persistent link: https://www.econbiz.de/10005412603
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Entrepreneurship and Economic Growth: An Obvious Conjunction?
DEJARDIN, Marcus - EconWPA - 2001
This paper consists of an introductory survey of two fundamental questions regarding the link between entrepreneurship … and economic growth. The first one deals with the endogenous relationship between entrepreneurship and growth. In … particular, we suggest that, while more entrepreneurship could mean more economic growth, economic growth in turn could affect …
Persistent link: https://www.econbiz.de/10005118761