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City size and the Henry George theoremunder monopolistic competition
Behrens, Kristian; Murata, Yasusada - Center for Operations Research and Econometrics … - 2007
We analyze the equilibrium and the optimal resource allocations in a monocentric city undermonopolistic competition. Unlike the constant elasticity of substitution (CES) case, wherethe equilibrium markups are independent of the city size, we present a variable elasticity ofsubstitution (VES)...
Persistent link: https://www.econbiz.de/10005868757
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Best Performing Cities
DeVol, Ross; Wallace, Lorna - 2004
This research report from the Milken Institute ranks U.S. metropolitan areas that are recording the top economic performance and creating the most jobs in the nation. The index is an outcomes-based measure as opposed to one that incorporates explicit measures of business costs, cost-of-living...
Persistent link: https://www.econbiz.de/10005842851
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Consumption Paths under Prospect Utility in an Optimal Growth Model
Rosenblatt-Wisch, Rina; Schenk-Hoppé, Klaus Reiner - Finrisk - 2005
This paper studies the Cass-Koopmans-Ramsey model of optimal economic growth with a representative agent whose preferences for consumption can be gradually varied between the standard CES case and Kahneman and Tversky's prospect utility. The numerical analysis of a specific parametrization shows...
Persistent link: https://www.econbiz.de/10005858780
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Loss Aversion in Aggregate Macroeconomic Time Series
Rosenblatt-Wisch, Rina - Institut für Schweizerisches Bankwesen <Zürich> - 2005
Prospect theory has found an increasing attention in many fields of economics. However, it has scarcely been addressed … in a macroeconomic growth model. In an earlier paper we introduced prospect theory into a stochastic growth model. This … paper focuses on linking the Euler equation induced by such a prospect theory growth model to real macroeconomic data. We …
Persistent link: https://www.econbiz.de/10005858781
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The von Neumann-Gale growth model and its Stochastic generalization
Evstigneev, Igor V.; Schenk-Hoppé, Klaus Reiner - Institut für Schweizerisches Bankwesen <Zürich> - 2006
Economics that served as thebasis for a rich and interesting theory. This theory was developed for the mostpart in the 1950s and …, Rockafellar,Nikaido, Morishima and others (see, e.g., the monograph by Nikaido [47] andreferences therein). The theory of the von …
Persistent link: https://www.econbiz.de/10005858887
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Are SMEs large firms en miniature? Evidence from a growth analysis
Bannier, Christina E.; Metz, Sabrina - Frankfurt School of Finance & Management - 2010
Based on German data between 1999 and 2007, we analyze the growth factors of SMEs andcontrast them with those of large firms. Differences show up both in balance sheet and employmentgrowth. While we conrm earlier results on inherent growth structures and the inuence of firm age,we derive several...
Persistent link: https://www.econbiz.de/10008695284
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Steady-State Growth and the Elasticity of Substitution
Irmen, Andreas - Alfred-Weber-Institut für Sozial- und … - 2010
In a neoclassical economy with endogenous capital- and labor-augmentingtechnical change the steady-state growth rate of output per worker is shown to increasein the elasticity of substitution between capital and labor. This conrms theassessment of Klump and de La Grandville (2000) that the...
Persistent link: https://www.econbiz.de/10009249010
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A Representative Consumer Theory of Distribution
Caselli, Francesco; Ventura, Jaume - London School of Economics and Political Science - 2000
This paper introduces various sources of consumer heterogeneity in one-sector representative consumer (RC) growth models and develops tools to study the evolution of the distribution of consumptions, assets and incomes.[...]
Persistent link: https://www.econbiz.de/10009305094
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Public and Private Expenditures on Health in a GrowthModel
Bhattacharya, Joydeep; Qiao, Xue - Iowa State University of Science and Technology <Ames, … - 2005
This paper introduces endogenous longevity risk in an otherwisestandard overlapping generations model with capital. In the model, an agent mayincrease the length of her old age by incurring investments in her own health fundedfrom her wage income. Such private health investments are more...
Persistent link: https://www.econbiz.de/10009360886
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What do Information Frictions do?
Bhattacharya, Joydeep; Chakraborty, Shankha - Iowa State University of Science and Technology <Ames, … - 2003
investment per worker, (ii) the two frictions amplify each other to produce higher long-run unemployment than would result from …
Persistent link: https://www.econbiz.de/10009418938