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Efficient competitive equilibria with adverse selection
Bisin, Alberto; Gottardi, Piero - 2005
incentive efficient. Moreover, any incentive efficient allocation can be decentralized as a competitive equilibrium. …
Persistent link: https://www.econbiz.de/10010261303
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Bank competition and financial stability: A general equilibrium exposition
De Nicolò, Gianni; Lucchetta, Marcella - 2013
We study the welfare properties of a general equilibrium banking model with moral hazard that encompasses incentive … mechanisms for bank risk-taking studied in a large partial equilibrium literature. We show that competitive equilibriums maximize …
Persistent link: https://www.econbiz.de/10010291658
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The Singular Value Decomposition of a Technology Matrix
Fisher, Eric O'N. - 2014
This paper is the first application of the singular value decomposition in general equilibrium theory. Every technology …
Persistent link: https://www.econbiz.de/10010328807
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Productivity as if Space Mattered: An Application to Factor Markets Across China
Cheng, Wenya; Morrow, John; Tacharoen, Kitjawat - 2013
-17% interquartile differences in TFP. These estimates imply that in general equilibrium, homogenization of labor markets would lead to a …
Persistent link: https://www.econbiz.de/10010328857
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Jean-Michel Grandmont - A Forthcoming Mind
Linnemer, Laurent; Visser, Michael - 2018
contributions to the fields of monetary economics, temporary equilibrium, business cycle theory, and aggregation of individual …
Persistent link: https://www.econbiz.de/10011872117
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A General Equilibrium Theory of Occupational Choice under Optimistic Beliefs about Entrepreneurial Ability
Dell'Era, Michele; Opromolla, Luca David; Santos-Pinto, … - 2018
This paper studies the impact of optimism on occupational choice using a general equilibrium framework. The model shows …
Persistent link: https://www.econbiz.de/10011932050
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Optimal Taxation of Robots
Thuemmel, Uwe - 2018
. The robot tax exploits general-equilibrium effects to compress the wage distribution. Wage compression reduces income …
Persistent link: https://www.econbiz.de/10011932067
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Exit and power in general equilibrium
Gersbach, Hans; Haller, Hans - 2008
We We integrate individual power in groups into general equilibrium models. The relationship between group formation … paradoxes: positive externalities increase, but none of the household members gains in equilibrium. We further identify implicit …
Persistent link: https://www.econbiz.de/10010264415
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Analysis of monetary policy and financial stability: a new paradigm
Goodhart, Charles A. E.; Osorio, Carolina; Tsomocos, … - 2009
This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the...
Persistent link: https://www.econbiz.de/10010272885
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Illiquidity and under-valuation of firms
Gale, Douglas; Gottardi, Piero - 2009
firms’ investment decisions. We characterize the conditions under which fire sales occur in equilibrium and their …
Persistent link: https://www.econbiz.de/10010273807