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An Equilibrium Model of the African HIV/AIDS Epidemic
Greenwood, Jeremy - 2018
is used a third of the time. To analyze the Malawian epidemic, a choice-theoretic general equilibrium search model is … upon the induced behavioral changes and equilibrium effects. The framework thus complements the insights provided by …
Persistent link: https://www.econbiz.de/10012908690
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Exporting and Offshoring with Monopsonistic Competition
Egger, Hartmut - 2019
We develop a model of international trade with a monopsonistically competitive labour market in which firms employ skilled labour for headquarter tasks and unskilled workers to conduct a continuum of production tasks. Firms can enter foreign markets through exporting and through offshoring, and...
Persistent link: https://www.econbiz.de/10012865164
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Network Externalities, Dominant Value Margins, and Equilibrium Uniqueness
Choi, Jay Pil; Stefanadis, Christodoulos - 2022
We examine tippy network markets that accommodate price discrimination. The analysis shows that when a mild equilibrium … refinement, the monotonicity criterion, is adopted, network competition may have a unique subgame-perfect equilibrium regarding … larger dominant value margin may always sell to all customers in equilibrium. Such a market outcome is not always socially …
Persistent link: https://www.econbiz.de/10013291317
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On Equilibrium in Monopolistic Competition with Endogenous Labor
Kushnir, Alexey - 2020
(high) values of the labor supply elasticity, we show that there is always a unique equilibrium. For medium values of the …
Persistent link: https://www.econbiz.de/10012830992
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The Invariant Distribution of Wealth and Employment Status in a Small Open Economy with Precautionary Savings
Bayer, Christian; Rendall, Alan D.; Wälde, Klaus - 2018
We study optimal savings in continuous time with exogenous transitions between employment and unemployment as the only source of uncertainty in a small open economy. We prove the existence of an optimal consumption path. We exploit that the dynamics of consumption and wealth between jumps can be...
Persistent link: https://www.econbiz.de/10011957213
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Stability and dynamics in an overlapping generations economy under flexible wage negotiation and capital accumulation
Koskela, Erkki; Puhakka, Mikko - 2006
the steady state equilibrium is a saddle point. …
Persistent link: https://www.econbiz.de/10010264012
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Matching and saving in continuous time: Proofs
Bayer, Christian; Wälde, Klaus - 2010
This paper provides the proofs to the analysis of a continuous time matching model with saving in Bayer and Wälde (2010a). The paper proves the results on consumption growth, provides an existence proof for optimal consumption and a detailed derivation of the Fokker-Planck equations.
Persistent link: https://www.econbiz.de/10010270451
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Optimal monetary policy when agents are learning
Molnár, Krisztina; Santoro, Sergio - 2010
We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show that this slight departure from rationality has important implications for policy design. The central bank faces a new intertemporal trade-off, not present under rational...
Persistent link: https://www.econbiz.de/10010271452
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Block-Recursive Equilibria in Heterogenous-Agent Models
Kaas, Leo - 2020
Equilibrium models with heterogeneous agents and aggregate uncertainty are difficult to analyze since policy functions … part applies this equilibrium concept to models of firm dynamics with competitive or frictional input markets and to …
Persistent link: https://www.econbiz.de/10012425643
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On the Perils of Stabilizing Prices when Agents are Learning
Mele, Antonio; Molnár, Krisztina; Santoro, Sergio - 2015
agents learn the policy implemented, and the economy converges to a rational ex- pectations equilibrium in which policy does …
Persistent link: https://www.econbiz.de/10010480813