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Inequality in South Africa is the enduring legacy of racial discrimination. We use a dynamic perspective to show the … linkages between persistent effects of discrimination in the labour market and the efficacy of redistributive fiscal policy in …
Persistent link: https://www.econbiz.de/10012299604
This paper addresses a fundamental, yet unresolved, question: is statistical discrimination a market failure? I … investments. It is found that the informational problem that makes equilibrium discrimination between identical groups possible … also creates efficiency gains from discrimination in terms of reduced "mismatch" between workers and jobs. Whether the …
Persistent link: https://www.econbiz.de/10014142535
discrimination, group inequalities may arise even if the corresponding model with a single group has a unique equilibrium. The … dominant group gains from discrimination, rationalizing why a majority may be reluctant to eliminate discrimination. The model … is also consistent with "reverse discrimination" as a remedy against discrimination since it may require to decrease the …
Persistent link: https://www.econbiz.de/10014131968
Persistent link: https://www.econbiz.de/10011868978
We build a model of competitive pooling, which incorporates adverse selection and signalling into general equilibrium. Pools are characterized by their quantity limits on contributions. Households signal their reliability by choosing which pool to join. In equilibrium, pools with lower quantity...
Persistent link: https://www.econbiz.de/10014121720
equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous …
Persistent link: https://www.econbiz.de/10014070241
refined equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory …
Persistent link: https://www.econbiz.de/10014128751
equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous …
Persistent link: https://www.econbiz.de/10014074211
Persistent link: https://www.econbiz.de/10003965658
Through extending a standard Grossman and Stiglitz (1980) noisy rational expectations economy by a heterogeneous signal structure with signal-specific differences in uncertainty, we show that price momentum as well as reversal are not intrinsically at odds with rational behavior. Differences in...
Persistent link: https://www.econbiz.de/10011952636