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Persistent link: https://www.econbiz.de/10003499575
I distinguish two types of macroeconomic models. The first type are top-down models in which some or all agents are capable of understanding the whole picture and use this superior information to determine their optimal plans. The second type are bottom-up models in which all agents experience...
Persistent link: https://www.econbiz.de/10003965858
Predator-prey relationships account for an important part of all interactions between species. In this paper we provide a microfoundation for such predator-prey relations in a food chain. Basic entities of our analysis are representative organisms of species modelled similar to economic...
Persistent link: https://www.econbiz.de/10011507918
In this paper we develop a micro ecosystem model whose basic entities are representative organisms which behave as if maximizing their net offspring under constraints. Net offspring is increasing in prey biomass intake, declining in the loss of own biomass to predators and Allee's Law applies....
Persistent link: https://www.econbiz.de/10003120634
The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences. It is a necessary ingredient of any ‘understanding’ social science in the Weberian sense. In this paper, first this principle and its role in economic theorizing is...
Persistent link: https://www.econbiz.de/10002730896
natives' wages, and that skilled immigration can actually increase them. We develop a model with regional labor markets and … is halved when the across-firm and across-region reallocation mechanisms are at work. Finally, both theory and … but skill-biased on aggregate, skilled immigration can increase absolute and relative skilled wages. Therefore, firm …
Persistent link: https://www.econbiz.de/10014249909
This paper presents the first longitudinal estimates of the effect of work-related training on labor market outcomes in Switzerland. Using a novel dataset that links official census data on adult education to longitudinal register data on labor market outcomes, we apply a regression-adjusted...
Persistent link: https://www.econbiz.de/10013413337
In this model of education, where individuals are exposed both to educational risk and to wage risk within the skilled sector, successful graduation depends both on individual effort to study and on public resources. We show that insuring the present risks is a dichotomic task: Wage risk is...
Persistent link: https://www.econbiz.de/10003806025
-skilled labor increases. This suppresses wages of low-skilled workers and/or increases their unemployment rates. On the other hand … for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill …
Persistent link: https://www.econbiz.de/10003850520
This paper analyzes the welfare effects of the Italian social security system in an economy with uncertainty on wages … risk diversification across working-life wages in computing benefits. -- social security reforms ; uncertainty ; risk …
Persistent link: https://www.econbiz.de/10003888079