implications for the market equilibrium. In the model, job offers and job destruction shocks arrive according to a Poisson process …

poverty gradient from rural to town to city will exist as an equilibrium phenomenon. We then address the policy question and …

Equilibrium of the extensive-form game proposed by Stole and Zwiebel (1996a) does not imply a profile of wages and profits that … Subgame Perfect Equilibrium generating a profile of wages and profits that are equal to the Shapley values. The vast applied …

We build an equilibrium model of a small open economy with labor market frictions and imperfectly enforced regulations …

will introduce enough new goods to avoid such a situation. In contrast, the decentralized equilibrium may involve long run …. In the latter equilibrium, capital and the number of varieties are larger than in the former, while consumption of each …, the satiated equilibrium generically survives. For some parameter values, its growth rate is positive while labor supply …