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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
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How transparency kills information aggregation : theory and experiment
Fehrler, Sebastian; Hughes, Niall - 2015
under secrecy. This occurs despite subjects revealing more information under transparency than theory predicts. …
Persistent link: https://www.econbiz.de/10010516456
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Information percolation in large markets
Duffie, Darrell; Manso, Gustavo - In: The American economic review 97 (2007) 2, pp. 203-209
Persistent link: https://www.econbiz.de/10003501732
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Rare disasters, asset prices, and welfare costs
Barro, Robert J. - In: The American economic review 99 (2009) 1, pp. 243-264
Persistent link: https://www.econbiz.de/10003825435
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Trade shocks and labor adjustment : a structural empirical appoach
Artuç, Erhan; Chaudhuri, Shubham; McLaren, John - In: The American economic review 100 (2010) 3, pp. 1008-1045
Persistent link: https://www.econbiz.de/10008749170
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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
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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
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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
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Unions, increasing returns and endogenous fluctuations
Modesto, Leonor; Lloyd-Braga, Teresa; Coimbra, Rui - 2000
We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local indeterminacy, bifurcations and endogenous fluctuations (deterministic and stochastic). We use an overlapping generations model with external increasing returns to scale, where...
Persistent link: https://www.econbiz.de/10011339688
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The cost of business cycles under endogenous growth
Barlevy, Gadi - In: The American economic review 94 (2004) 4, pp. 964-990
Persistent link: https://www.econbiz.de/10002382428