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The Wage-Productivity Hypothesis : Its Economic Consequences and Policy Implications

Stiglitz, Joseph E. - 1986

the wages they receive. In particular, we show that this hypothesis may explain the high urban wages and unemployment … control urbaxv'rural migration, but could control wages and urban employment, it would, in general, set wages and employment … into accounce, both In the determination of shadow wages to be used in cost benefit analysis and In the analysisis of the …

Persistent link: https://www.econbiz.de/10012477096

Some Aspects of the Taxation of Capital Gains

Stiglitz, Joseph E. - 1983

The analysis of the effects ofcapital gains taxation requires a careful modelling both of the details of the tax code and the imperfections in the capital market. Under the standard assumptions concerning perfect capital marketsand under the standard idealizations of the tax code, there are...

Persistent link: https://www.econbiz.de/10012478008

Equilibrium Unemployment as a Worker Screening Device

Nalebuff, Barry - 1993

unemployment and job queues so that wages may serve as an effective screening device. This happens because more productive workers … being unemployed than less productive workers. The model is consistent with cyclical movements in average real wages as well …

Persistent link: https://www.econbiz.de/10012474599

Income-Contingent Loans As an Unemployment Benefit

Mateen, Haaris; Stiglitz, Joseph E.; Yun, Jungyoll - National Bureau of Economic Research - 2021

Imperfections in risk and capital markets imply that individuals who lose jobs suffer from imperfect smoothing of consumption across states and times. Compared to the first best, there will be too little search. Optimal unemployment programs, which balance the marginal benefit of consumption...

Persistent link: https://www.econbiz.de/10012616645

The creation of the rule of law and the legitimacy of property rights : the political and economic consequences of a corrupt privatization

Hoff, Karla Ruth - 2005

"How does the lack of legitimacy of property rights affect the dynamics of the creation of the rule of law? We investigate the demand for the rule of law in post-Communist economies after privatization under the assumption that theft is possible, that those who have "stolen" assets cannot be...

Persistent link: https://www.econbiz.de/10010522421

Privatization, Information and Incentives

Sappington, David E. M. - 1987

In this paper, the choice between public and private provision of goods and services is considered. In practice, both modes of operation involve significant delegation of authority, and thus appear quite similar in some respects. The argument here is that the main difference between the two mod-...

Persistent link: https://www.econbiz.de/10012476874

Pareto Efficient and Optimal Taxation and the New New Welfare Economics

Stiglitz, Joseph E. - 1987

This paper surveys recent developments in the theory of pareto efficient taxation. This literature attempts to …

Persistent link: https://www.econbiz.de/10012476881

Project Appraisal and Foreign Exchange Constraints : A Simple Exposition

Blitzer, Charles R. - 1987

In an earlier paper, we showed that the value of shadow prices depends on how the government contemplates re- equilibrating the economy to the perturbation associated with any project, except in the extreme case where the government has chosen all policy instruments optimally. Only under...

Persistent link: https://www.econbiz.de/10012476904

Keynesian, New Keynesian, and New Classical Economics

Greenwald, Bruce C. - 1987

Much of the new theory of macro-economics that has been built upon micro-economic models of imperfect information leads …-economic implications of information-based models of efficiency wages, credit-rationing and the breakdown of financial markets for equity …

Persistent link: https://www.econbiz.de/10012476909

Imperfect Information, Credit Markets and Unemployment

Greenwald, Bruce C. - 1986

and perfectly flexible prices and wages, give rise to cyclical variations in unemployment whose character closely …

Persistent link: https://www.econbiz.de/10012476976