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Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics

Acemoglu, Daron - 2021

Do societies choose inefficient policies and institutions, in contrast to what would be suggested by a reasoning extending the Coase Theorem to politics? Do societies choose inefficient policies and institutions because of differences in the beliefs and ideologies of their peoples or leaders? Or...

Persistent link: https://www.econbiz.de/10013216095

Beyond Becker : Training in Imperfect Labor Markets

Acemoglu, Daron; Pischke, Jörn-Steffen - 2021

In this paper, we survey non-competitive theories of training. With competitive labor markets, firms never pay for investments in general training, whereas when labor markets are imperfect, firm-sponsored training arises as an equilibrium phenomenon. We discuss a variety of evidence which...

Persistent link: https://www.econbiz.de/10013225396

Why Do Firms Train? Theory and Evidence

Acemoglu, Daron; Pischke, Jörn-Steffen - 2021

This paper offers and tests a theory of training whereby workers do not pay for general training they receive. The … explanations of firm sponsored training. Using microdata from Germany, we show that the predictions of the specific human capital …

Persistent link: https://www.econbiz.de/10013231422

Efficient Unemployment Insurance

Acemoglu, Daron; Shimer, Robert - 2021

This paper constructs a tractable general equilibrium model of search with risk-aversion. An increase in risk-aversion reduces wages, unemployment, and investment. Unemployment insurance (UI) has the reverse effect due to market generated moral hazard: insured workers seek high wage jobs with...

Persistent link: https://www.econbiz.de/10013234055

Young and Out in Germany : On the Youths' Chances of Labor Market Entrance in Germany

Franz, Wolfgang; Inkmann, Joachim; Pohlmeier, Winfried; … - 2021

This paper deals with the labor market entrance of young people in the Federal Republic" of Germany. The main focus is … on failures during this stage. First, an overview of the youth" labor market in Germany is given. Then, the transition …

Persistent link: https://www.econbiz.de/10013222219

German and American Wage and Price Dynamics : Differences and Common Thenes

Franz, Wolfgang; Gordon, Robert J. - 2021

The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … big difference berween the two countries is that there is no feedback from wages to prices in Germany, and so high … unemployment does not put downward pressure on the inflation rate. During the 19705 and 19805 in Germany there emerged a growing …

Persistent link: https://www.econbiz.de/10013237265

The Duration of Youth Unemployment in West Germany : Some Theoretical Considerations

Franz, Wolfgang - 2021

This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …

Persistent link: https://www.econbiz.de/10013249173

The Reservation Wage of Unemployed Persons in the Federal Republic of Germany : Theory and Empirical Tests

Franz, Wolfgang - 2021

This study examines the determinants of the reservation wage of unemployed persons in the Federal Republic of Germany …

Persistent link: https://www.econbiz.de/10013249255

A Dynamic Theory of Resource Wars

Acemoglu, Daron - 2011

We develop a dynamic theory of resource wars and study the conditions under which such wars can be prevented. The … our theory. We show that a key parameter determining the incentives for war is the elasticity of demand. Our first result …

Persistent link: https://www.econbiz.de/10013131444

Cascades in Networks and Aggregate Volatility

Acemoglu, Daron - 2010

We provide a general framework for the study of cascade effects created by interconnections between sectors, firms or financial institutions. Focusing on a multi sector economy linked through a supply network, we show how structural properties of the supply network determine both whether...

Persistent link: https://www.econbiz.de/10013136361