This paper investigates the redistributive effects of taxation on occupational choice and growth. We discuss a two-sector economy in the spirit of Romer (1990). Agents engage in one of two alternative occupations: either self-employment in an intermediate goods sector characterized by...

Microsimulation models are apt to be the preferred instrument when applied, equality analyses of tax reforms in specific economies are undertaken. However, most of these models ignore general equilibrium effects, like changes in prices, and may therefore miss valuable information because of...

We evaluate the stability of risk-sharing contracts in the presence of moral hazard. Contracts are rules for sharing output among producers and affect the extent of private investments in production. Organizations, which are identified with the contracts they offer, compete for membership....

The extent of output growth, hence, productivity growth in service industries has been controversial. Although official data indicate productivity growth slowdowns in 1948-60 and 1979- 98, some economists suggest the official figures are inaccurate due to mismeasured output, inputs, or both. The...

We adapt the continuous time random walk (CTRW) formalism to describe the asset price evolution. We show some of the problems that can be treated using this approach. We basically focus on two aspects: (i) the derivation of the price distribution from high-frequency data; and (ii) the inverse...