Similar Search Results

Inflation and welfare in long-run equilibrium with firm dynamics

Janiak, Alexandre; Monteiro, Paulo Santos - 2009

We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the United States economy and the long-run...

Persistent link: https://www.econbiz.de/10003916989

Corruption as a barrier to entry : theory and evidence

Campos, Nauro; Estrin, Saul; Proto, Eugenio - 2010

Conventional wisdom depicts corruption as a tax on incumbent firms. This paper challenges this view in two ways. First, by arguing that corruption matters not so much because of the value of the bribe ("tax"), but because of another less studied feature of corruption, namely bribe...

Persistent link: https://www.econbiz.de/10009153607

Formality, informality, and social welfare

Bennett, John (contributor) - 2008

An industry is modeled in which entrepreneurs, who are heterogeneous in ability, may produce formally or informally. It is shown how the formal-informal mix depends on the distribution of ability, product demand and various parameter values. The industry equilibrium is compared to one in which...

Persistent link: https://www.econbiz.de/10003724143

Perfect Bayesian implementation

Brusco, Sandro - In: Economic theory : official journal of the Society for … 5 (1995), pp. 419-444

Persistent link: https://www.econbiz.de/10001180191

Double implementation in Nash and undominated Nash equilibria in social choice environments

Tatamitani, Yoshikatsu - In: Economic theory : official journal of the Society for … 3 (1993) 1, pp. 109-117

Persistent link: https://www.econbiz.de/10001136000

Regulatory barriers and entry in developing economies

Bennett, John (contributor); Estrin, Saul (contributor) - 2006

We model entry by entrepreneurs into new markets in developing economies with regulatory barriers in the form of licence fees and bureaucratic delay. Because laissez faire leads to 'excessive' entry, a licence fee can increase welfare by discouraging entry. However, in the presence of a licence...

Persistent link: https://www.econbiz.de/10003328066

Entry and mergers in oligopoly with firm-specific network effects

Gama, Adriana; Lahmandi-Ayed, Rim; Pereira, Ana Elisa … - In: Economic theory : official journal of the Society for … 70 (2020) 4, pp. 1139-1164

Persistent link: https://www.econbiz.de/10012422491

Temporary shocks and offshoring : the role of external economies and firm heterogeneity

Mitra, Devashish (contributor); Ranjan, Priya (contributor) - 2007

We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities, temporary shocks like the Y2K problem can have permanent effects, i.e., they can permanently raise the extent of offshoring in an industry. Also, the initial advantage of a country...

Persistent link: https://www.econbiz.de/10003596092

A theory of price adjustment under loss aversion

Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

Persistent link: https://www.econbiz.de/10010350414

Wage risk, employment risk and the rise in wage inequality

Mecikovsky, Ariel Matias; Wellschmied, Felix - 2016

We estimate the changes in US male labor market risk over the last three decades in a model of endogenous labor supply and job mobility. Across education groups permanent shocks to productivity have become more dispersed. Moreover, heterogeneity in pay across offered jobs has increased for...

Persistent link: https://www.econbiz.de/10011595910

1
2
3
4
5
6
7
8
9
10
Next
Last