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of interest, so it would otherwise finance increased current consumption by borrowing against future wages. Collateral …
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"This study presents evidence that the correlation in brothers' earnings has risen in recent decades. We use two distinct cohorts of young men from the National Longitudinal Surveys and estimate that the correlation in earnings between brothers rose from 0.26 to 0.45. This suggests that family...
Persistent link: https://www.econbiz.de/10001920916
We study the behavior of output, employment, consumption, and investment in Germany during the Great Depression of 1928 …-37. In this time period, real wages were countercyclical, and productivity and fiscal policy were procyclical. We use the … neoclassical growth model to investigate how much these factors contribute to the Depression. We find that real wages, which were …
Persistent link: https://www.econbiz.de/10005419926
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estimation of our model challenging, because we cannot observe the inputs into her decision process. Nevertheless, we are able to …
Persistent link: https://www.econbiz.de/10001915437
"This paper empirically examines the effects of market size on producers' sizes in retail trade industries with many producers. A robust prediction of oligopoly theory is that larger markets are more competitive and have lower price-cost markups. Because producers in more competitive markets...
Persistent link: https://www.econbiz.de/10001915478
model, we can place fairly tight bounds on the elasticity of demand for labor with the most plausible parameter values …
Persistent link: https://www.econbiz.de/10001920665