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Rent-Seeking Bureaucracies in a Schumpeterian Endogenous Growth Model : Effects on Human Capital Accumulation, Inequality and Growth
Luca, SPINESI - Institut de Recherche Économique et Sociale (IRES), … - 2005
Some empirical works from the nineties have shown the existence of a negative relationship between inequality and … e considered to explain the negative empirical relationship between inequality and growth. Considering a neo … authority. I show that the inefficiency of the Public Sector can contribute to widening income inequality and reducing the per …
Persistent link: https://www.econbiz.de/10004984831
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Delegation and information revelation
Gautier, Axel; Paolini, Dimitri - Institut de Recherche Économique et Sociale (IRES), … - 2000
This paper addresses the question of delegation in an organization where there is an initial asymmetry of information between the principal and the agent. We assume that the principal cannot use revelation techniques à la Baron Myerson to elicit agent's superior information and in contrast, we...
Persistent link: https://www.econbiz.de/10004984983
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Regulation under Wealth Constraints
Gautier, Axel - Institut de Recherche Économique et Sociale (IRES), … - 2000
This article studies the problem of regulating a monopolist with unknown marginal cost. The problem described differs from Baron and Myerson [1982] because we suppose that the regulator faces a cash-in-advance constraint. The introduction of such a constraint may lead to the collapse of the...
Persistent link: https://www.econbiz.de/10004985100
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The Strategic Role of Information Asymmetry on Demand for the Multinational Enterprise
Rafael, MONER-COLONQUES; Vicente, ORTS; José J., … - Institut de Recherche Économique et Sociale (IRES), … - 2003
We study how asymmetric information impinge on oligopolistic firms’ decision between direct investment and exports in a game-theoretic model with Bayesian learning. Host firms have superior information about market demand and foreign firms can improve their knowledge if foreign direct...
Persistent link: https://www.econbiz.de/10004985181
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Bid-Ask Price Competition with Asymmetric Information between Market Makers
Calcagno, Riccardo; Lovo, Stefano M. - Institut de Recherche Économique et Sociale (IRES), … - 1998
We consider the effect of asymmetric information on price formation process in a financial market where private information is held by a market maker. A model is presented where two market makers with two different information partitions compete in prices. At each stage a bid-ask auction between...
Persistent link: https://www.econbiz.de/10004985266
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Asymmetries of information in centralized order-driven markets
Boccard, N.; Calcagno, R. - Institut de Recherche Économique et Sociale (IRES), … - 1999
We study the efficiency of the equilibrium price in a centralized, order-driven market where many asymmetrically informed traders are active for many periods. We show that asymmetries of information can lead to sub-optimal information revelation with respect to the symmetric case. In particular,...
Persistent link: https://www.econbiz.de/10004985319
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Matching and Saving in Continuous Time: Theory
BAYER, Christian; WALDE, Klaus - Institut de Recherche Économique et Sociale (IRES), … - 2010
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10008505490
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Matching Models Under Scrutiny : Understanding the Shimer Puzzle
Gabriele, CARDULLO - Institut de Recherche Économique et Sociale (IRES), … - 2008
Two papers have recently questioned the quantitative consistency of the search and matching models. Shimer (2005) has argued that a text-book matching model is unable to explain the cyclical variation of unemployment and vacancies in the U.S. economy. Costain and Reiter (2007) have found the...
Persistent link: https://www.econbiz.de/10004984783
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Equilibrium Evaluation of Active Labor Market Programmes Enhancing Matching Effectiveness
Bruno, VAN DER LINDEN - Institut de Recherche Économique et Sociale (IRES), … - 2005
This paper evaluates counselling programmes in an equilibrium matching model where workers are heterogeneous in skill levels. Job search effort, labour demand and wages are endogenous. When wages are bargained over, raising the effectiveness of or the access to counselling programmes pushes...
Persistent link: https://www.econbiz.de/10004984803
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Search Frictions on Product and Labor markets : Money in the Matching Function
Etienne, LEHMANN; Bruno, VAN DER LINDEN - Institut de Recherche Économique et Sociale (IRES), … - 2007
This paper builds a macroeconomic model of equilibrium unemployment in which firms persistently face difficulties in selling their production and this affects their decisions to create jobs. Due to search-frictins on the product market, equilibrium unemployment is a U-shaped function of the...
Persistent link: https://www.econbiz.de/10004984870