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Exploitation, Altruism, and Social Welfare: An Economic Exploration

Doepke, Matthias - C.E.P.R. Discussion Papers - 2013

Child labor is often condemned as a form of exploitation. I explore how the notion of exploitation, as used in everyday … language, can be made precise in economic models of child labor. Exploitation is defined relative to a specific social welfare … distinctions that common usage of the term exploitation allows. I resolve this conflict by introducing a welfare function with …

Persistent link: https://www.econbiz.de/10011084615

Consumption Taxes and Redistribution

Correia, Isabel - C.E.P.R. Discussion Papers - 2005

It is relatively well known that the introduction of consumption taxation as an alternative in the tax code, and as the main source of government revenues, leads to a more efficient tax system. However the conventional wisdom is that the change from the actual tax code, based on taxation of...

Persistent link: https://www.econbiz.de/10005123977

Tax And Education Policy In A Heterogeneous Agent Economy: What Levels Of Redistribution Maximize Growth And Efficiency?

Bénabou, Roland - C.E.P.R. Discussion Papers - 2000

This paper studies the effects of progressive income taxes and education finance in a dynamic heterogeneous agent economy. Such redistributive policies entail distortions to labour supply and savings, but also serve as partial substitutes for missing credit and insurance markets. The resulting...

Persistent link: https://www.econbiz.de/10005124288

Assortative Matching in a Non-transferable World

Legros, Patrick; Newman, Andrew - C.E.P.R. Discussion Papers - 2002

Progress in the application of matching models to environments in which the utility between matching partners is not fully transferable has been hindered by a lack of characterization results analogous to those that are known for transferable utility. We present sufficient conditions for...

Persistent link: https://www.econbiz.de/10005504313

Labor Differentiation and Agglomeration in General Equilibrium

Berliant, Marcus; Zenou, Yves - C.E.P.R. Discussion Papers - 2012

The aim of this paper is to explore the structure of cities as a function of labor differentiation, gains to trade, a fixed cost for constructing the transportation network, a variable cost of commodity transport, and the commuting costs of consumers. Firms use different types of labor to...

Persistent link: https://www.econbiz.de/10011083732

Incomplete Contracts and Industrial Organization

Grossman, Gene; Helpman, Elhanan - C.E.P.R. Discussion Papers - 1999

We develop an equilibrium model of industrial structure in which the organization of firms is endogenous. Differentiated consumer products can be produced either by vertically integrated firms or by pairs of specialized companies. Production of each variety of consumer good requires a unique,...

Persistent link: https://www.econbiz.de/10005661461

Imperfect Labour Contracts and International Trade

Grossman, Gene - C.E.P.R. Discussion Papers - 1999

In an economy with imperfect labour contracts, differences in the distribution of human capital are an independent source of comparative advantage. I study a world economy with two sectors, one where output is produced by teams and another where individuals can work alone. When workers'...

Persistent link: https://www.econbiz.de/10005661464

A Dynamic Model with Import Quota Constraints

Basak, Suleyman; Pavlova, Anna - C.E.P.R. Discussion Papers - 2002

This Paper develops a continuous-time two-sector model to study the economic effects of an import quota during the period of time over which it is imposed. One of the sectors is protected by a quota, which in our set-up manifests itself as an integral constraint on the flow of imports of the...

Persistent link: https://www.econbiz.de/10005662103

Basic Principles Of Asset Pricing Theory: Evidence From Large-Scale Experimental Financial Markets

Bossaerts, Peter; Plott, Charles - C.E.P.R. Discussion Papers - 2000

We report on six large-scale financial markets experiments that were designed to test two of the most basic propositions of modern asset pricing theory, namely, that the interaction between risk averse agents in a competitive market leads to equilibration, and that, in equilibrium, risk premia...

Persistent link: https://www.econbiz.de/10005662411

On the Indeterminacy of Determinacy and Indeterminacy

Beyer, Andreas; Farmer, Roger E A - C.E.P.R. Discussion Papers - 2003

A number of authors have attempted to test whether the US economy is in a determinate or an indeterminate equilibrium. We argue that to answer this question, one must impose a priori restrictions on lag length that cannot be tested. We provide examples of two economic models. Model 1 displays an...

Persistent link: https://www.econbiz.de/10005666730