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The shadow economy as an equilibrium outcome

Gomis-Porqueras, Pedro; Peralta-Alva, Adrian; Waller, … - In: Journal of Economic Dynamics and Control 41 (2014) C, pp. 1-19

We construct a dynamic general equilibrium model of tax evasion where agents choose to report some of their income. Unreported income requires using a payment method that avoids recordkeeping in some markets—cash. Trade using cash to avoid taxes is the ‘shadow economy’ in our model. We...

Persistent link: https://www.econbiz.de/10011051901

Equilibrium Price Dispersion Across and Within Stores

Menzio, Guido; Trachter, Nicholas - Department of Economics, University of Pennsylvania - 2015

We develop a search-theoretic model of the product market that generates price dispersion across and within stores …

Persistent link: https://www.econbiz.de/10011122482

Crime and the Labor Market in a Search Model with Pairwise-Efficient Separations

Engelhardt, Bryan; Rocheteau, Guillaume; Rupert, Peter - Department of Economics, University of California-Santa … - 2007

This paper extends the Pissarides (2000) model of the labor market to include crime and punishment à la Becker (1968). All workers, irrespective of their labor force status can commit crimes and the employment contract is determined optimally. The model is used to study, analytically and...

Persistent link: https://www.econbiz.de/10011131653

(De)Regulation and Market Thickness

Maheshri, Vikram; Forand, Jean Guillaume - Department of Economics, University of Houston - 2013

Regulation is a set of constraints imposed on transactions between buyers and sellers. We introduce a dynamic frictional matching model with horizontal differentiation and nontransferable utility in which a regulator determines permissible transactions. We show the existence and uniqueness of a...

Persistent link: https://www.econbiz.de/10011133299

The role of intermediaries in enhancing market efficiency in the Ethiopian grain market

Gabre-Madhin, Eleni Z. - In: Agricultural Economics of Agricultural Economists 25 (2001) 2-3

This paper investigates the impact of the institution of brokerage on the optimal search behaviour and the welfare … gains and losses of traders in the Ethiopian grain market. Without brokers, the privately optimal search diverges from the … socially optimal search due to the positive spill-over of individual search behaviour. Numerical analysis using the actual …

Persistent link: https://www.econbiz.de/10011069373

Evaluating the performance of the search and matching model

Yashiv, Eran - London School of Economics (LSE) - 2005

Does the search and matching model fit aggregate U.S. labor market data? While the model has become an important tool …

Persistent link: https://www.econbiz.de/10011071277

Labor search and matching in macroeconomics

Yashiv, Eran - London School of Economics (LSE) - 2007

The labor search and matching model plays a growing role in macroeconomic analysis. This paper provides a critical …

Persistent link: https://www.econbiz.de/10011071476

Search strategies on the housing market and their implications on price dispersion

Maury, Tristan-Pierre; Tripier, Fabien - In: Journal of Housing Economics 26 (2014) C, pp. 55-80

one. To do so, the household can either adopt a sequential search strategy or a simultaneous search strategy. In … can diminish its search costs on the housing market, but exposes the household to the risk of becoming a homeless …-renter or a two-houses owner. The literature generally considers only the sequential search strategy. However, we show in this …

Persistent link: https://www.econbiz.de/10011077915

Project Selection: Commitment and Competition

Atal, Vidya; Bar, Talia; Gordon, Sidartha - Department of Economics, University of Connecticut - 2014

We examine project selection decisions of rms constrained in the number of projects they can handle at once. Taking on a project requires a commitment of uncertain duration, restricting the rm from selecting another project in subsequent periods. Due to the capacity constraints and need for...

Persistent link: https://www.econbiz.de/10011079288

Relative Effects of Labor Taxes and Unemployment Benefits on Hours Worked per Worker and Employment

Chen, Been-Lon; Hsu, Mei; Lai, Chih-Fang - Institute of Economics, Academia Sinica - 2014

Labor supply in Europe was declined by about 30% relative to the US over the past 3 decades. The decline comes from hours per worker and employment. This paper studies a matching model and the effects of labor taxes and unemployment benefits. Labor taxes decrease hours and employment, with...

Persistent link: https://www.econbiz.de/10011098954