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A general model of technical change with an application to the OECD countries

Heshmati, Almas; Kumbhakar, Subal C. - 2011

In the neoclassical production functions model technical change (TC) is assumed to be exogenous and it is specified as a function of time. However, some exogenous external factors other than time can also affect the rate of TC. In this paper we model TC via a combination of time trend (purely...

Persistent link: https://www.econbiz.de/10010280731

Firm heterogeneity, informal wage and good governance

Kar, Saibal; Marjit, Sugata - 2011

We provide an analysis of enforcement policies applicable to formal sector in dual labor markets. We use a framework with heterogeneous firms, endogenous determination of informal wage and politically dictated enforcement strategies. Firms which operate both in the formal and informal sectors do...

Persistent link: https://www.econbiz.de/10010280733

Exploitation as the unequal exchange of labour: An axiomatic approach

Yoshihara, Naoki; Veneziani, Roberto - 2009

Roemer's (1982, 1988) classical approach and all the crucial insights of exploitation theory are generalised, proving that …

Persistent link: https://www.econbiz.de/10010280738

Specialization in the bargaining family

Hyee, Raphaela; Robledo, Julio R. - 2009

We develop a two period family decision making model in which spouses bargain over their contributions to a family public good and the distribution of private consumption. In contrast to most models in the literature, specialization within the couple emerges endogenously from the production of...

Persistent link: https://www.econbiz.de/10010280748

Revealed preferences, choices, and psychological indexes

Soraperra, Ivan - 2009

This paper develops a model of choice that embeds some psychological aspects affecting decision maker's behaviour. In the model, the decision maker attaches an unobservable psychological index -representing, e.g., the level of perceived availability or the level of salience- to each alternative...

Persistent link: https://www.econbiz.de/10010280751

Adaptive rate-optimal detection of small autocorrelation coefficient

Guay, Alain; Guerre, Emmanuel; Lazarová, Štepána - 2009

alternatives converging to the null with a rate close or equal to the parametric one. A simulation experiment and an application to …

Persistent link: https://www.econbiz.de/10010280754

A generalized endogenous grid method for non-concave problems

Fella, Giulio - 2011

This paper extends Carroll's (2006) endogenous grid method and its combination with value function iteration by Barillas and Fernández-Villaverde (2007) to non-concave problems. The method is illustrated using a consumer problem in which consumers choose both durable and non-durable...

Persistent link: https://www.econbiz.de/10010280755

Evaluation with dynamic reference: Sustainable investment

Vinokur, Leon - 2009

The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature … recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a … status quo). This paper aims to develop a Prospect Theory framework for investment under uncertainty subject to a dynamic …

Persistent link: https://www.econbiz.de/10010280772

Liberal principles for social welfare relations in infinitely-lived societies

Lombardi, Michele; Veneziani, Roberto - 2009

This paper extends the analysis of liberal principles in social choice recently proposed by Mariotti and Veneziani (2009a) to infinitely-lived societies. First, a novel characterisation of the inegalitarian leximax social welfare relation is provided based on the Individual Benefit Principle,...

Persistent link: https://www.econbiz.de/10010280774

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