Showing 1 - 3 of 3
countries involved. We contrast bargaining and perfect competition. Under perfect capital markets, convergence of capital and … convergence of the income shares, with unionized countries showing a lower wage rate and consequent capital inflows. Therefore …
Persistent link: https://www.econbiz.de/10005090984
This paper explores the implications of economic and political inequality for the comovement of government purchases with macroeconomic fluctuations. We set up and compute a heterogeneous-agent neoclassical growth model, where households value government purchases which are financed by income...
Persistent link: https://www.econbiz.de/10010698881
We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm-size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business, we show that, by reducing...
Persistent link: https://www.econbiz.de/10011160658