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expropriation. In a dynamic setting, market payoffs may induce sufficient inequality in next period's endowments for markets to … alternate with expropriation in a limit cycle, decreasing efficiency and amplifying macroeconomic fluctuations. Long run …
Persistent link: https://www.econbiz.de/10009226355
efficiency and amplifying macroeconomic fluctuations, depends on social mobility, initial inequality, and the mismatch between … to coalitional expropriation. More equally distributed power and higher congruence of land and power favor stable markets …. Whether markets are stable forever in a dynamic setting, or alternate with expropriation in a limit cycle, decreasing …
Persistent link: https://www.econbiz.de/10010270170
Persistent link: https://www.econbiz.de/10010863457
In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who become entrepreneurs by limiting the downside...
Persistent link: https://www.econbiz.de/10013330003
So-called "uphill capital flows", i.e. flows of physical capital from relatively poor to rich countries, are a new phenomenon with yet unclear impact. We develop a unified framework incorporating economic institutions, human capital and physical capital to study the interaction of international...
Persistent link: https://www.econbiz.de/10012745132
Does a countrys level of inequality affect its ability to win Olympic medals? If it does, is it conditional on … institutional factors? We argue that the ability of economically free societies to win medals will not be affected by inequality. In … out those of inequality. In unfree societies, the incentives that promote investments in skills across the income …
Persistent link: https://www.econbiz.de/10012146985
In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who become entrepreneurs by limiting the downside...
Persistent link: https://www.econbiz.de/10013161870
So-called "uphill capital flows", i.e. flows of physical capital from relatively poor to rich countries, are a new phenomenon with yet unclear impact. We develop a unified framework incorporating economic institutions, human capital and physical capital to study the interaction of international...
Persistent link: https://www.econbiz.de/10012696550
Does a countrys level of inequality affect its ability to win Olympic medals? If it does, is it conditional on … institutional factors? We argue that the ability of economically free societies to win medals will not be affected by inequality. In … out those of inequality. In unfree societies, the incentives that promote investments in skills across the income …
Persistent link: https://www.econbiz.de/10012145428
or societal laws benefiting religious citizens. Rising income inequality can, however, lead some of the rich to form a …
Persistent link: https://www.econbiz.de/10011262883