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An experimental test of a committee search model

Hizen, Yoichi; Kawata, Keisuke; Sasaki, Masaru - 2012

The objective of this paper is to design a laboratory experiment for an infinite-horizon sequential committee search model in order to test some of the implications obtained by the model in Albrecht, Anderson, and Vroman (2010) (AAV). We find that, compared with single-agent search, the search...

Persistent link: https://www.econbiz.de/10010289995

Efficiency in a search and matching economy with a competitive informal sector

Charlot, Olivier; Malherbet, Franck; Ulus, Mustafa - 2012

We consider a dual labor market with a frictional formal sector and a competitive informal sector. We show that the size of the informal sector is generally too large compared to the optimal allocation of the workers. It follows that our results give a rationale to informality-reducing policies.

Persistent link: https://www.econbiz.de/10010290000

The fixed wage puzzle: Why profit sharing is so hard to implement

Jerger, Jürgen; Michaelis, Jochen - 2010

It is well known that profit sharing arrangements Pareto-dominate fixed wage contracts. Share agreements are (far) less than ubiquitous, however. This paper offers a solution of this 'fixed wage puzzle' by adopting a perspective of bounded rationality. We show that share arrangements that...

Persistent link: https://www.econbiz.de/10010290027

The dependence of prices on labour-values

Guerrero, Diego - In: Atlantic Review of Economics 1 (2011), pp. 1-33

It is frequently believed, in a quite schizophrenic fashion, that a theory of value must just solve the question of … relative prices (a microeconomic problem), being mainly the theory of money the piece needed for determining the absolute or … theoretically prior to any consideration of the money market, whereas on the other hand no theory of value can aspire to be complete …

Persistent link: https://www.econbiz.de/10010290066

Geldpolitik und Staatsverschuldung - welche Rolle spielt die Unabhängigkeit der Notenbank?

Solveen, Ralph - 1996

Two theoretical modeis are developed. Both describe the connection between public debt and inflation. In the first one, monetary policy inflates the economy to rcduce the bürden of existing debt. In the second one, the causality runs directly from the level of public debt to inflation via a...

Persistent link: https://www.econbiz.de/10010290096

Extended income inequality and poverty dynamics of labour market and household activities: A ten years microanalysis with the German socio-economic panel

Merz, Joachim; Kirsten, Dagmar - 1998

Labour market dynamics according the individual working hour tension (preferred working hours minus actual working hours) of active people with focus on the self-employed, as professions and entrepreneurs, and employees are investigated in our study. The individual longitudinal analysis based on...

Persistent link: https://www.econbiz.de/10010290101

Microdata adjustment by the minimum information loss principle

Merz, Joachim - 1994

(MIL) principle. Based on information theory this principle satisfies the desired positivity constraint on the weighting …

Persistent link: https://www.econbiz.de/10010290113

Time use research and time use data - actual topics and new frontiers

Merz, Joachim - 2002

This paper is asking about the actual used and appropriate data for recent substantive time use research. Emphasis is laid on both, macroanalytic and microanalytic approaches. However, the focus is on microeconomic approaches with topics on time use in the labour market (labour supply) and...

Persistent link: https://www.econbiz.de/10010290124

Liquidity, term spreads and monetary policy

Aksoy, Yunus; Basso, Henrique S. - 2012

We propose a model that delivers endogenous variations in term spreads driven primarily by banks' portfolio decision and their appetite to bear the risk of maturity transformation. We first show that fluctuations of the future profitability of banks' portfolios affect their ability to cover for...

Persistent link: https://www.econbiz.de/10010290138

Duty, self-interest, and the chance of casting a pivotal vote

Usher, Dan - 2010

One votes from self-interest or from a sense of duty. Voting from self-interest requires there to be some chance, however small, that one's vote swings the outcome of an election from one political party to another. This paper is a discussion of three models of what that chance might be: the...

Persistent link: https://www.econbiz.de/10010290314