Showing 81 - 90 of 155
Persistent link: https://www.econbiz.de/10005345640
Persistent link: https://www.econbiz.de/10005345693
Persistent link: https://www.econbiz.de/10005345702
Persistent link: https://www.econbiz.de/10005356011
This paper investigates the redistributive effects of taxation on occupational choice and growth. We discuss a two-sector economy in the spirit of Romer (1990). Agents engage in one of two alternative occupations: either self-employment in an intermediate goods sector characterized by...
Persistent link: https://www.econbiz.de/10005170562
We discuss long-run growth in an economy which is subject to aggregate productivity shocks affecting all factors of production. We demonstrate that the presence of labor income risk unambiguously is an important determinant of long-run expected growth. The issue of dynamic inefficiency of the...
Persistent link: https://www.econbiz.de/10005243348
This paper discusses the emergence of endogenous redistributive cycles in a stochastic growth model with incomplete asset markets and heterogeneous agents who vote on the degree of progressivity in the tax-transfer scheme. The model draws from Bénabou (in B. S. Bernanke and J. J. Rotemberg...
Persistent link: https://www.econbiz.de/10005251930
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10010551014
This paper deals with credit market imperfections and idiosyncratic risks in a two-sector heterogeneous agent dynamic general equilibrium model of occupational choice. We focus especially on the effects of tightening financial constraints on macroeconomic performance, entrepreneurial...
Persistent link: https://www.econbiz.de/10008864760
This paper analyzes the effects of technological risk on long-run growth when labor supply is elastic and production gives rise to a pollution externality. We show that the randomness of production, as well as the endogeneity of labor supply, affects the equilibrium solutions for the social...
Persistent link: https://www.econbiz.de/10008837751