The aim of this paper is to show that both location and race matter for explaining the high criminality rate in cities. In our model, blacks and whites are identical in all respects. However, if, for no economic but for extrinsic reasons, everybody (including blacks) believes that blacks are...

This paper proposes an explanation of the puzzling coexistence of elements of inertia and dynamism on the Russian labour market using a segmentation model. Risl averse workers are differentiated according to their productivity. They face a trade-off between wages and access to social services...

This paper considers a simple "three goods" model and focuses attention on the expectational stability of its equilibria. The setting allows us to describe stylised general equilibrium macro interactions : firms hire workers and then sell production to buyers whose purchasing power depends on...

The paper considers a simple "three goods" model in which firms simultaneously decide hiring workers. The production is sold later at a market clearing price; the buyers'purchasing power depend on their income, that itself depends on the firms'previous decisions. The rational expectations...