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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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Market distortions and local indeterminacy : a general approach
Lloyd-Braga, Teresa; Modesto, Leonor; Seegmuller, Thomas - 2011
We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are particular cases of our framework. Comparing them we obtain several equivalence results in terms...
Persistent link: https://www.econbiz.de/10009235089
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How Darwinian should an economy be?
Saint-Paul, Gilles - 2014
This paper studies aggregate dynamics in a cobweb model where learning takes place through a selection mechanism, by … limits mutational drift in firm types; on the other hand, selection may strengthen cobweb oscillatory dynamics. Second, there … explain the key results. Optimal selectivity is larger, the less "cobweb unstable" the economy, i.e. the more elastic the …
Persistent link: https://www.econbiz.de/10010440555
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Labor market imperfections and the firm's wage setting policy
Félix, Sónia; Portugal, Pedro - 2016
We use matched employer-employee data and firm balance sheet data to investigate the importance of firm productivity and firm labor market power in explaining firm heterogeneity in wage formation. We use a linear regression model with one interacted high dimensional fixed effect to estimate...
Persistent link: https://www.econbiz.de/10011543455
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Marital matching, economies of scale and intrahousehold allocations
Cherchye, Laurens; Rock, Bram de; Surana, Khushboo; … - 2016
We propose a novel structural method to empirically identify economies of scale in household consumption. We assume collective households with consumption technologies that define the public and private nature of expenditures through Barten scales. Our method recovers the technology by solely...
Persistent link: https://www.econbiz.de/10011543531
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On measuring uncertainty : snakes and ladders
Junankar, Pramod N. - 2016
The Global Crisis demonstrated to the world that Ratings Agencies had misled the public about the stability of financial institutions. The Finance literature had decided that it was impossible to have bubbles in financial markets and any surge in the stock market would be self-correcting. Recent...
Persistent link: https://www.econbiz.de/10011543578
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On nonparametric identification of treatment effects in duration models
Johansson, Per-Olov; Lee, Myoung-jae - 2016
We show that the main nonparametric identification finding of Abbring and Van den Berg (2003b, Econometrica) for the effect of a timing-chosen treatment on an event duration of interest does not hold. The main problem is that the identification is based on the competing-risks identification...
Persistent link: https://www.econbiz.de/10011543606
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Rebuttal of "on nonparametric identification of treatment effects in duration models"
Abbring, Jaap H.; Berg, Gerard J. van den - 2016
In their IZA Discussion Paper 10247, Johansson and Lee claim that the main result (Proposition 3) in Abbring and Van den Berg (2003b) does not hold. We show that their claim is incorrect. At a certain point within their line of reasoning, they make a rather basic error while transforming one...
Persistent link: https://www.econbiz.de/10011543629
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In front of and behind the veil of ignorance : an analysis of motivations for redistribution
Bjerk, David - 2016
This paper uses a laboratory experiment to explore individuals' motivations for redistribution. The laboratory results show that as income uncertainty diminishes, participants become more extreme in their preferences for redistribution. The findings suggest that for most people, the motivation...
Persistent link: https://www.econbiz.de/10011543750
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Correcting for misreporting of government benefits
Mittag, Nikolas - 2016
Recent validation studies show that survey misreporting is pervasive and biases common analyses. Addressing this problem is further complicated, because validation data are usually convenience samples and access is restricted, making them more suitable to document than to solve the problem. I...
Persistent link: https://www.econbiz.de/10011543927