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The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory
Aoki, Masanao; Yoshikawa, Hiroshi - 2008
The standard Walrasian equilibrium theory requires that the marginal value product of production factor such as labor … theory allegedly fills this gap by encompassing apparent disequilibrium phenomena in the neoclassical equilibrium framework …. Taking up Lucas and Prescott (1974) as a primary example, we show that the neoclassical search theory cannot explain the …
Persistent link: https://www.econbiz.de/10010298573
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Urban public works in spatial equilibrium: Experimental evidence from Ethiopia
Franklin, Simon; Imbertand, Clément; Abebe, Girum; … - 2023
This paper evaluates a large urban public works program randomly rolled out across neighborhoods of Addis Ababa, Ethiopia. We find that the program increased public employment and reduced private labor supply among beneficiaries and improved local amenities in treated locations. We then combine...
Persistent link: https://www.econbiz.de/10014480361
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Search Theory and Commuting Behavior
Rouwendal, Jan - 2004
In this paper I argue that search theory is a useful addition to the way economists and geographers have approached the … decentralized employment the spatial search model predicts excess commuting. Search theory also suggests that regression towards the …
Persistent link: https://www.econbiz.de/10010325209
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The dilemma of delegating search: Budgeting in public employment services
Addison, John T.; Altemeyer-Bartscher, Martin; Kuhn, Thomas - 2010
The poor performance often attributed to many public employment services may be explained in part by a delegation problem between the central office and local job centers. In markets characterized by frictions, job centers function as match-makers, linking job seekers with relevant vacancies....
Persistent link: https://www.econbiz.de/10010274618
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Models as Measuring Instruments
Rodenburg, Peter - 2004
in models by analysing the measurement of duration dependence of unemployment. Since search theory can’t be made … function serves this purpose, its assumptions are arbitrary rather than connected to theory, and measurements generated with …
Persistent link: https://www.econbiz.de/10010325381
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Selektionsverzerrungen, erfragte Reservationslöhne und Arbeitslosigkeitsdauer
Christensen, Björn - 2003
Verwendung der Selektivitätskorrektur der nach der Theorie erwartete positive Effekt des Reservationslohns auf die …
Persistent link: https://www.econbiz.de/10010260626
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Does risk aversion accelerate optimal forest rotation under uncertainty?
Alvarez, Luis H. R.; Koskela, Erkki - 2004
We use a Wicksellian single rotation framework to analyze the impact of the intertemporally fluctuating and stochastic mean-reverting interest rate process on the optimal harvesting threshold and thereby the expected length of the rotation period, when forest value is also stochastic following...
Persistent link: https://www.econbiz.de/10010261267
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Consumer search and oligopolistic pricing : an empirical investigation
Janssen, Maarten C. W.; Moraga-González, José Luis; … - 2004
This paper presents an empirical examination of oligopoly pricing and consumer search. The theoretical model allows for sequential and non-sequential search and, using the theoretical restrictions firm and consumer behavior impose on the data, we study the empirical validity of the models. Two...
Persistent link: https://www.econbiz.de/10010261272
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Firm Heterogeneity in Capital/Labor Ratios and Wage Inequality
Leonardi, Marco - 2003
This paper provides some empirical evidence and a theory of the relationship between residual wage inequality and the …
Persistent link: https://www.econbiz.de/10010261620
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A Search Model of Marriage with Differential Fecundity
Giolito, Eugenio P. - 2004
It is commonly observed that over time and across societies, women tend to marry older men. The traditional explanation for this phenomenon is that wages increase with age and hence older men are more attractive in the marriage market. This explanation, however, involves an implicit assumption...
Persistent link: https://www.econbiz.de/10010261842