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A competitive equilibrium for a warm glow economy

Allouch, Nizar - 2009

to the normative and positive theory of public goods provision. First, it is a price based mechanism achieving efficient …

Persistent link: https://www.econbiz.de/10010280776

Strong subjectivism in the Marxian theory of exploitation: A critique

Veneziani, Roberto; Yoshihara, Naoki - 2009

This paper critically analyses the strongly subjectivist approach to exploitation theory recently proposed by Matsuo … exploitation index can be constructed. It is argued that a minimal objectivism is necessary in exploitation theory, whereby … related to the 'New Interpretation' ([1]; [3]). It is argued that it captures the core intuitions of exploitation theory and …

Persistent link: https://www.econbiz.de/10010280783

Dominance solvability of dynamic bargaining games

Tyson, Christopher J. - 2009

We formulate and study a general finite-horizon bargaining game with simultaneous moves and a disagreement outcome that need not be the worst possible result for the agents. Conditions are identified under which the game is dominance solvable in the sense that iterative deletion of weakly...

Persistent link: https://www.econbiz.de/10010280787

Insiders-outsiders, transparency and the value of the ticker

Cespa, Giovanni; Foucault, Thierry - 2008

We consider a multi-period rational expectations model in which risk-averse investors differ in their information on past transaction prices (the ticker). Some investors (insiders) observe prices in real-time whereas other investors (outsiders) observe prices with a delay. As prices are...

Persistent link: https://www.econbiz.de/10010280788

Selective hiring and welfare analysis in labor market models

Merkl, Christian; van Rens, Thijs - 2012

Firms select not only how many, but also which workers to hire. Yet, in standard search models of the labor market, all workers have the same probability of being hired. We argue that selective hiring crucially affects welfare analysis. Our model is isomorphic to a search model under random...

Persistent link: https://www.econbiz.de/10010280791

Envy, guilt, and the Phillips curve

Ahrens, Steffen; Snower, Dennis J. - 2012

We incorporate inequity aversion into an otherwise standard New Keynesian dynamic equilibrium model with Calvo wage contracts and positive inflation. Workers with relatively low incomes experience envy, whereas those with relatively high incomes experience guilt. The former seek to raise their...

Persistent link: https://www.econbiz.de/10010280793

The political economy of the standard level of services: The role of income distribution

Fiorillo, Fabio; Sacchi, Agnese - 2012

The theory of fiscal federalism points out that decentralisation should be pursued in order to fit differences in …

Persistent link: https://www.econbiz.de/10010280802

Competition for migrants in a federation: Tax or transfer competition?

Köthenbürger, Marko - 2012

The paper provides an equilibrium analysis of how countries compete for migrants. The type of competition (tax or transfer competition) depends on whether the competing countries have similar policy preferences. With symmetric preferences, countries compete in taxes for migrants. With asymmetric...

Persistent link: https://www.econbiz.de/10010280804

Voting as a signaling device

Aytimur, R. Emre; Boukouras, Aristotelis; Schwager, Robert - 2012

In this paper, citizens vote in order to influence the election outcome and in order to signal their unobserved characteristics to others. The model is one of rational voting and generates the following predictions: (i) The paradox of not voting does not arise, because the benefit of voting does...

Persistent link: https://www.econbiz.de/10010280806

Human capital formation and tax evasion

Goerke, Laszlo - 2012

A strictly risk-averse individual with an exogenous gross income in period one can acquire human capital in the same period and evade taxes. Period-two income rises with educational investments in period one and can also be hidden from tax authorities. It is shown that a greater tax...

Persistent link: https://www.econbiz.de/10010280807