Showing 1 - 10 of 121
We consider a two-sector overlapping generations model with homothetic preferences. Under standard conditions on technologies, upon large enough values for the share of first period consumption over the wage income, we prove that dynamic efficiency and local uniqueness of the competitive...
Persistent link: https://www.econbiz.de/10010750993
The aim of this paper is to discuss the role of the elasticity of capital-labor substitution on the local determinacy properties of the steady state in a two-sector economywith CES technologies and sector-specific externalities
Persistent link: https://www.econbiz.de/10010751027
We consider a two-sector overlapping generations model with homothetic preferences. Under standard conditions on technologies, upon large enough values for the share of first period consumption over the wage income, we prove that dynamic efficiency and local uniqueness of the competitive...
Persistent link: https://www.econbiz.de/10008795397
The aim of this paper is to discuss the role of the elasticity of capital-labor substitution on the local determinacy properties of the steady state in a two-sector economywith CES technologies and sector-specific externalities
Persistent link: https://www.econbiz.de/10008795678
In recent decades, most developed countries have experienced a simultaneous increase in income inequality and management compensation. In this paper, we study the relation between management compensation and firm-level income dynamics in a general equilibrium model. Empirical estimation, of the...
Persistent link: https://www.econbiz.de/10010268874
In recent decades most developed countries have experienced an increase in income inequality. In this paper, we use an equilibrium search framework to shed additional light on what is causing an income distribution to change. The major benefit of the model is that it can accommodate shocks to...
Persistent link: https://www.econbiz.de/10010269677
Fairness considerations are important determinants of behavior in unstructured bargaining situations with equal bargaining power. If the surplus over which the bargaining takes place was created by separate, individual efforts, several entitlementrelated fairness ideals might be relevant. In our...
Persistent link: https://www.econbiz.de/10010331336
We assess the extent of preferences for employment in a collective wage bargaining situation with heterogeneous workers. We vary the size of the union and introduce a treatment mechanism transforming the voting game into an individual allocation task. Our results show that highly productive...
Persistent link: https://www.econbiz.de/10010427643
We collect data from symmetric and asymmetric coordination games with a focal point and vary the stake size. The data show that in symmetric games coordination on the label-salient strategy increases with stake size. By contrast, in asymmetric games the coordination rates do not vary with stake...
Persistent link: https://www.econbiz.de/10011159137
We consider coordination situations with a conflict of interest, and experimentally vary the inefficiency of an equal earnings equilibrium, as well as the number of efficient and unequal earnings equilibria. We observe that equality, as long it is not extremely inefficient, remains very salient,...
Persistent link: https://www.econbiz.de/10010890958