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Market distortions and local indeterminacy : a general approach
Lloyd-Braga, Teresa; Modesto, Leonor; Seegmuller, Thomas - 2011
elasticities of the crucial functions defining the aggregate equilibrium dynamics of the model. This allows us to study how market …
Persistent link: https://www.econbiz.de/10009235089
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Learning of general equilibrium effects and the unemployment trap
Gersbach, Hans; Schniewind, Achim - 2001
We examine wage bargaining when employers and labor unions do not always take all general equilibrium effects into … account but learn a steady state. If agents do hardly consider general equilibrium effects, low real wages and low … unemployment results. With an intermediate view, when partial equilibrium effects are taken into account, high real wages and …
Persistent link: https://www.econbiz.de/10011391642
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Awareness of general equilibrium effects and unemployment
Gersbach, Hans; Schniewind, Achim - 2001
of all general equilibrium feedback effects. We show analytically that if agents only consider labor demand effects, low … real wages and low unemployment result. With an intermediate view, i.e. when partial equilibrium effects within a sector … are taken into account, high real wages and unemployment result. If all general equilibrium effects are considered at once …
Persistent link: https://www.econbiz.de/10011405183
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A pure theory of population distribution when preferences are ordinal
Stark, Oded; Kosiorowski, Grzegorz - 2023
We model an environment in which individuals prefer to be in a space in which their rank is higher, be it a social space, a geographical space, a work environment, or any other comparison sphere which we refer to in this paper, and without loss of generality, as a region. When the individuals...
Persistent link: https://www.econbiz.de/10013541743
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A sequential Malmquist-Luenberger productivity index
Oh, Donghyun; Heshmati, Almas - 2009
This study proposes an alternative methodology for measuring environmentally sensitive productivity growth. The rationale of this methodology is to consider the features of technology appropriately by excluding a spurious technical regress based on the macroeconomic perspective. In order to...
Persistent link: https://www.econbiz.de/10003859322
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Regional differences in intersectoral linkages and diverse patterns of structural transformation
Paul, Saumik; Raju, Dhushyanth - 2022
Intersectoral linkages can act as shock propagation channels and shape the pattern of structural transformation. To our knowledge, no research has examined how subnational differences in intersectoral linkages impact such spillover effects. We hypothesize that regional differences in local...
Persistent link: https://www.econbiz.de/10013332119
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Nonlinear propagation of sectoral productivity shocks with variable elasticities of substitution
Paul, Saumik; Raju, Dhushyanth - 2023
This paper examines the nonlinear propagation of sectoral productivity shocks in a general equilibrium framework with …
Persistent link: https://www.econbiz.de/10014429881
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Nonlinearity between the shadow economy and level of development
Wu, Dong Frank; Schneider, Friedrich - 2019
This paper is the first attempt to directly explore the long-run nonlinearity of the shadow economy. Using a dataset of …
Persistent link: https://www.econbiz.de/10012022432
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Intra-industry trade, involuntary unemployment and macroeconomic stability
Le Riche, Antoine; Lloyd-Braga, Teresa; Modesto, Leonor - 2021
path stability in autarky, whereas in the other there are efficiency wages, and the autarkic equilibrium may be locally …
Persistent link: https://www.econbiz.de/10012419065
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The pure effect of social preferences on regional location choices : the evolving dynamics of convergence to a steady state population distribution
Stark, Oded; Budziński, Wiktor; Kosiorowski, Grzegorz - 2019
This paper tracks the consequences of individuals' desire to align their location with their social preferences. The social preference studied in the paper is distaste for relative deprivation, measured in a cardinal manner. Location is conceived as social space, with individuals choosing to...
Persistent link: https://www.econbiz.de/10012005655