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We solve the problem of a social planner who seeks to minimize inequality via transfers with a fixed public budget in a distribution of exogenously given incomes. The appropriate solution method depends on the objective function: If it is convex, as in the case of the absolute mean deviation, it...
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implied by wage bargaining. -- Wage Bargaining ; Optimal Control Theory ; Right-to-Manage Model ; Numerical Solutions …
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In recent years, a school of economics called MMT (Modern Monetary Theory) has been attracting attention, but it has …
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communicate and coordinate at lower resource cost. The theory delivers full task specialization in the labor and education markets …
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Should automation be regulated? This paper studies optimal tax of robot and regulation of automation. A job assignment model is embedded into a Mirrleesian tax problem. A task may either be assigned to the robot or one type of labors, which naturally determines the automation rate. The robot can...
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