The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

The upward sloping trend of rents and house prices has initiated a debate on the consequences of surging housing costs for wealth inequality and welfare. We employ a frictionless two-sectoral macroeconomic model with a housing sector to investigate the dynamics of wealth inequality and the...

Purpose: The purpose of this paper is to enhance Bourdieu’s Theory of Practice for the analysis of power in multinational corporations. Therefore, they adopt and apply the Theory of Practice on power struggles within the board as the key field of power within the multinational company (MNC),...

This paper shows that dynamic inefficiency can occur in dynamic general equilibrium models with fully optimizing, infinitely-lived households even in a situation with underinvestment. We identify necessary conditions for such a possibility and illustrate it in a standard R&D-based growth model....

Child labour is a widespread phenomenon. Although economic activities of children havebeen commonplace even before the industrialisation, it has in the meanwhile become a lastingsymbol of the industrial revolution and of industrialisation in general. In most countries theinclusion of children in...