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The Price of Egalitarianism
Yongsung, Chang; Sun-Bin, Kim - In: The B.E. Journal of Macroeconomics 11 (2012) 1, pp. 1-24
Using a standard incomplete-markets model, we compute the welfare of two socioeconomic systems: laissez-faire and egalitarianism. The egalitarian system (in which after-tax wages are compressed) provides insurance against income risks but at the cost of inefficiency: it undermines productive...
Persistent link: https://www.econbiz.de/10009415492
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The Price of Egalitarianism
Yongsung, Chang; Sun-Bin, Kim - In: The B.E. Journal of Macroeconomics 11 (2012) 1, pp. 1-24
Using a standard incomplete-markets model, we compute the welfare of two socioeconomic systems: laissez-faire and egalitarianism. The egalitarian system (in which after-tax wages are compressed) provides insurance against income risks but at the cost of inefficiency: it undermines productive...
Persistent link: https://www.econbiz.de/10010640280
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How sticky wages in existing jobs can affect hiring
Bils, Mark; Chang, Yongsung; Kim, Sun-bin - 2014
Persistent link: https://www.econbiz.de/10010239939
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Labor-market heterogeneity, aggregation, and the Lucas critique
Chang, Yongsung; Kim, Sun-bin; Schorfheide, Frank - 2010
Persistent link: https://www.econbiz.de/10008669347
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Labor-Market heterogeneity, aggregation, and the Lucas critique
Chang, Yongsung; Kim, Sun-bin; Schorfheide, Frank - 2010
Persistent link: https://www.econbiz.de/10008747157
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The price of egalitarianism
Chang, Yongsung; Kim, Sun-bin - In: The B.E. journal of macroeconomics 11 (2011) 1, pp. 1-22
Persistent link: https://www.econbiz.de/10009577899
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Transition dynamics in the neoclassical growth model : the case of South Korea
Chang, Yongsung; Hornstein, Andreas - In: The B.E. journal of macroeconomics 15 (2015) 2, pp. 649-676
Persistent link: https://www.econbiz.de/10011449012
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On the aggregate labor supply : a progress report
Chang, Yongsung; Kim, Sun-bin - In: Global economic review 45 (2016) 3, pp. 275-293
Persistent link: https://www.econbiz.de/10011566019
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Labor market uncertainty and portfolio choice puzzles
Chang, Yongsung; Hong, Jay H.; Karabarbounis, Marios - In: American economic journal : a journal of the American … 10 (2018) 2, pp. 222-262
Persistent link: https://www.econbiz.de/10011845900
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Pareto weights in practice : a quantitative analysis across 32 OECD countries
Chang, Bo Hyun; Chang, Yongsung; Kim, Sun-bin - In: Review of economic dynamics 28 (2018), pp. 181-204
Persistent link: https://www.econbiz.de/10012041466