In general screening problems, implementable allocation rules correspond exactly to Walrasian equilibria of an economy in which types are consumers with quasilinear utility and unit demand. Due to the welfare theorems, an allocation rule is implementable if and only if it induces an efficient...

Chonsei deposits are a unique form of real estate credit popular in the Korean housing market, in which tenants make interest-free loans to landlords in exchange for paying reduced rent. This paper constructs an equilibrium model of the Chonsei market. Chonsei deposit size is pinned down by...

We provide an equilibrium analysis of the efficiency properties of bilateral tariff negotiations in a three-country, two-good general equilibrium model of international trade when transfers are not feasible. We consider "weak-rules" settings characterized by two cases: a no-rules case in which...

We provide an equilibrium analysis of the efficiency properties of bilateral tariff negotiations in a three-country, two-good general equilibrium model of international trade when transfers are not feasible. We consider "weak-rules" settings characterized by two cases: a no-rules case in which...