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Indeterminacy of rational expectations equilibria in sequential financial markets

Donati, Paola - 2003

We provide a general characterization of the structure of rational expectations equilibria of any degree of revelation for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial market and nominal assets. We estimate the dimension of the...

Persistent link: https://www.econbiz.de/10009635915

Does bargaining matter in the small firm's matching model?

l’Haridon, Olivier; Malherbet, Franck; Pérez-Duarte, … - 2011

's matching model of unemployment. To the best of our knowledge, this is the first attempt to implement and systematically compare … these solutions in search-matching economies. Our results are twofold. First from the theoretical and methodological … viewpoint, we extend a somewhat flexible search-matching economy to alternative bargaining solutions. In particular, we prove …

Persistent link: https://www.econbiz.de/10009639478

Social returns to education

Canton, Erik - 2007

This paper presents new evidence on the social returns to education within a macroeconomic growth regression framework. I use improved schooling data and a macro version of the Mincer relationship between education and wages for individual workers. The results suggest that an increase by one...

Persistent link: https://www.econbiz.de/10009640173

Human capital externalities and proximity evidence from repeated cross-sectional data

Canton, Erik - 2009

Does schooling generate social returns in excess of the private returns captured by the individual who makes the human capital investment? As a strategy to detect human capital externalities I use Dutch survey data to estimate the impact of the average human capital stock in a region on...

Persistent link: https://www.econbiz.de/10009640175