We develop an overlapping generations model with retradeable paper assets and capital accumulation to analyze the interaction between the real economy and an international asset market. The world consists of two homogeneous countries, which differ only in their initial levels of capital. Two...

The aim of this paper is to investigate the spillover effects through an endogenous world interest rate on the inequality of nations. The model of K. Matsuyama (Econometrica 72 (2004)) is explored under the alternative assumption that the world economy consists of two countries, instead of a...

This dissertation is an empirical investigation into the distributive effects of overand under-education, defined as market outcomes such that some workers possess skills over or below those required at their jobs respectively. This type of market failure can arise in assignment and search...

Minimum wage laws have become a key political issue, following on the heels of over 130 successful living wage campaigns around the country. In the debates surrounding these mandated wage floors, one recurring issue has been whether the legislation has wider-ranging impacts on wages than the...

The paper investigates the role of the minimum wage in a competitive economy in which there is underreporting of earnings by employed labour. The minimum wage induces higher compliance by some low- productivity workers and transforms a nominally neutral fiscal system into a regressive one. A...

To be competitive in the global economy, some argue that Latin American countries need to reduce or eliminate labor market regulations such as minimum wage legislation because they constrain job creation and hence increase poverty. On the other hand, minimum wage increases can have a direct...

Agriculture is an essential part of life in the United States due to the fact that everyone needs to eat. And, being that many commodities within agriculture, such as apples, are very labor intensive, the people that work in the industry are also very important. But while these laborers, many of...