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Feldstein meets George : land rent taxation and socially optimal allocation in economies with environmental externality
Nguyen Thang Dao; Edenhofer, Ottmar - 2018
We consider an overlapping generations (OLG) economy with land as a fixed factor of production and an environmental externality on production in which tax revenue from land rent and/or from other schemes such as labor income, capital income, and production taxation can be used for environmental...
Persistent link: https://www.econbiz.de/10011809898
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International credit flows and pecuniary externalities
Brunnermeier, Markus Konrad; Sannikov, Yuliy - 2015
externalities. First, an undercapitalized country borrows too much since each firm does not internalize that an increase in …
Persistent link: https://www.econbiz.de/10010474855
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Wealth inequality and externalities from ex ante skill heterogeneity
Angelopulos, Kōnstantinos; Lazarakis, Spyridon; … - 2017
This paper develops an incomplete markets model with state dependent (Markovian) stochastic earnings processes and ex ante skill heterogeneity corresponding to being university educated or not. Using the Wealth and Assets Survey for Great Britain, we find that the university educated group has...
Persistent link: https://www.econbiz.de/10011688087
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Savings externalities and wealth inequality
Angelopulos, Kōnstantinos; Lazarakis, Spyridon; … - 2019
externalities via the interest rate. Conditional on differences in the processes determining household earnings for distinct groups … in the population, these savings externalities may contribute to inequality. Working with an open economy heterogenous … earnings processes of British households with university and non-university educated heads entail savings externalities that …
Persistent link: https://www.econbiz.de/10012001856
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Revisiting the "decentralization theorem" : on the role of externalities
Köthenbürger, Marko (contributor) - 2007
Persistent link: https://www.econbiz.de/10003620168
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Efficiency and labor market dynamics in a model of labor selection
Chugh, Sanjay K.; Merkl, Christian - 2015 - First draft: September 2010, This draft: August 9, 2015
This paper characterizes efficient labor-market allocations in a labor selection model. The model's crucial aspect is cross-sectional heterogeneity for new job contacts, which leads to an endogenous selection threshold for new hires. With cross-sectional dispersion calibrated to microeconomic...
Persistent link: https://www.econbiz.de/10011306109
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Collective versus decentralized wage bargaining and the efficient allocation of resources
Cai, Xiaoming; Gautier, Pieter; Watanabe, Makoto - 2015 - September 2012
An advantage of collective wage agreement is that search and business-stealing externalities can be internalized. A …
Persistent link: https://www.econbiz.de/10011309217
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The unemployment accelerator
Blanco, Andres; Navarro, Gaston - 2016
This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...
Persistent link: https://www.econbiz.de/10011573865
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Male investment in schooling with frictional labour and marriage markets
Bonilla, Roberto; Kiraly, Francis - 2019
We present an equilibrium model with inter-linked frictional labour and marriage markets. Women's flow value of being single is treated as given, and it captures returns from employment. Single unemployed men conduct a so-called constrained sequential job search, and can choose to improve their...
Persistent link: https://www.econbiz.de/10012119529
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Job ladder and wealth dynamics in general equilibrium
Kaas, Leo; Lalé, Etienne; Siassi, Nawid - 2023
This paper develops a macroeconomic model that combines an incomplete-markets overlapping-generations economy with a job ladder featuring sequential wage bargaining, endogenous search effort of employed and non-employed workers, and differences in match quality. The calibrated model offers a...
Persistent link: https://www.econbiz.de/10014444876