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abovethe primary level is that the rich take up most education, soa subsidy would increase inequality. We show that there is … inequality decreases.We consider a Walrasian world withperfect capital and insurance markets. Hence, in the absence ofa strive …
Persistent link: https://www.econbiz.de/10010325056
We characterize the equilibrium of a search model with a continuum of job and worker types, wage bargaining, free entry of vacancies and on-the-job search. The decentralized economy with monopsonistic wage setting yields too many vacancies and hence too low unemployment compared to first best....
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above the primary level is that the rich take up most education, so a subsidy would increase inequality. We show that there …, pre-tax income inequality decreases. We consider a Walrasian world with perfect capital and insurance markets. Hence, in …
Persistent link: https://www.econbiz.de/10011400867
above the primary level is that the rich take up most education, so a subsidy would increase inequality. We show that there …, pre-tax income inequality decreases.We consider a Walrasian world with perfect capital and insurance markets. Hence, in …
Persistent link: https://www.econbiz.de/10011317437
I apply Ricardo’s principle of comparative advantage to a theory of factor substitutability in a model with a continuum …
Persistent link: https://www.econbiz.de/10011327541