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Unions, Increasing Returns and Endogenous Fluctuations
Coimbra, Rui; Lloyd-Braga, Teresa; Modesto, Leonor - Institute for the Study of Labor (IZA) - 2000
We analyse the implications of unions (efficient bargaining) for multiplicity of stationary states and welfare, local … external increasing returns to scale, where capital is the unique asset. We find that a slight increase in unions power may … deterministic endogenous fluctuations. However, we find that union’s bargaining power can dramatically influence the local stability …
Persistent link: https://www.econbiz.de/10005761682
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Endogenous Growth Fluctuations in Unionised Economy with Productive Externalities
Coimbra, Rui; Lloyd-Braga, Teresa; Modesto, Leonor - C.E.P.R. Discussion Papers - 2002
We discuss the effects of unions in the labour market on steady-state multiplicity and welfare, and on the occurrence …-Douglas technology, unions increase steady state employment and welfare, and local indeterminacy (sunspots) emerges. Our results show … that the role of unions in shaping local dynamics depends on technology (externalities and factor's substitutability …
Persistent link: https://www.econbiz.de/10005656164
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Indeterminacy in a Finance Constrained Unionized Economy
Lloyd-Braga, Teresa; Modesto, Leonor - C.E.P.R. Discussion Papers - 2004
We introduce labour market imperfections (i.e. unions and the existence of a wage floor) in a finance … decreases with union power. We also find that unions increase simultaneously steady-state employment, capital accumulation and …
Persistent link: https://www.econbiz.de/10005504720
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From Regressive Pollution Taxes to Progressive Environmental Tax Reforms
Chiroleu-Assouline, Mireille; Fodha, Mouez - Department of Economics, European University at St. … - 2012
European countries have increased their use of environmental tax instruments by designing new tax bases. But, many countries have to face the opposition of the public opinion, for fear of the distributive consequences of these environmental tax reforms. This paper sheds light on the...
Persistent link: https://www.econbiz.de/10011161253
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From Regressive Pollution Taxes to Progressive Environmental Tax Reforms.
Chiroleu-Assouline, Mireille; Fodha, Mouez - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2012
European countries have increased their use of environmental tax instruments by designing new tax bases. But, many countries have to face the opposition of the public opinion, for fear of the distributive consequences of these environmental tax reforms. This paper sheds light on the distributive...
Persistent link: https://www.econbiz.de/10010558543
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An Incomplete Markets Model of Business Cycles.
Durlauf, S.N. - Wisconsin Madison - Social Systems - 1996
This paper explores the effects of incomplete markets and positive spillovers on aggregate and industry output behavior. We consider an economy composed of a fixed set of infinitely-lived industries. When industries coordinate production decisions they jointly improve their productivity. Markets...
Persistent link: https://www.econbiz.de/10005200460
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Skilled and Unskilled Employment in a Spanish Business Cycle Model
Muñoz, Rafael - Institut de Recherche Économique et Sociale (IRES), … - 1999
We analyze to what extent skill heterogeneity in the labor market with different wage formation mechanisms can explain the features of the Spanish labor market. The model assumes two types of workers with differences in skills. Skilled labor sets wages in an efficiency way while unskilled labor...
Persistent link: https://www.econbiz.de/10004985274
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Skill Upgrading and Rigid Relative Wages: The Case of Danish Manufacturing
Skaksen, Jan Rose; Sørensen, Anders - Institute for the Study of Labor (IZA) - 2002
Relative wages have been remarkably rigid for the last two decades in Danish manufacturing despite large shifts in relative employment from unskilled labor towards skilled and educated labor. Assuming capital-skill complementarity and fixed relative wages as a consequence of labor market...
Persistent link: https://www.econbiz.de/10005566745
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Can Heterogeneous Preferences Stabilize Endogenous Fluctuations?
Bosi, Stefano; Seegmuller, Thomas - Centre d'Études des Politiques Économiques (EPEE), … - 2005
While most of the literature concerned with indeterminacy considers a representative agent, some recent works have investigated the role of heterogenous agents on dynamics. This paper adds a contribution to the debate, stressing the effects of heterogeneity in consumers’ preferences within an...
Persistent link: https://www.econbiz.de/10010852364
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Leisure Externalities and Endogenous Cycles in an OLG Model
Barbar, Riham - Centre d'Études des Politiques Économiques (EPEE), … - 2010
This chapter examines the e¤ect of leisure externalities on the ap- pearance of local indeterminacy in a two-period overlapping generations economy with capital accumulation. Households work and consume in both periods of their life. Labor supply is elastic for young while inelastic for adult....
Persistent link: https://www.econbiz.de/10010635717