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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

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

Monopoly Power and the Firm's Valuation: A Dynamic Analysis of Short versus Long-Term Policies

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

This article develops a multi-period production model to examine the optimal dynamic behaviour of a large monopolistic value-maximizing firm that manipulates its valuation as well as the price of its output. In the pre-commitment equilibrium the firm’s output and labour demand are decreased,...

Persistent link: https://www.econbiz.de/10005666999

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

Inequality and Political Consensus

Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2003

This Paper develops a model of political consensus in order to explain the missing link between inequality and political redistribution. Political consensus is an implicit agreement not to vote for extreme policy proposals. We show that such an agreement may play an efficiency-enhancing role....

Persistent link: https://www.econbiz.de/10005497877

General Equilibrium and the Emergence of (Non) Market Clearing Trading Institutions

Alos-Ferrer, Carlos; Kirchsteiger, Georg - C.E.P.R. Discussion Papers - 2006

We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing. To learn on which trading institutions to coordinate, traders follow behavioural rules of thumb...

Persistent link: https://www.econbiz.de/10005666746

How Labour Market Flexibility Affects Unemployment: Long-Term Implications of the Chain Reaction Theory

Karanassou, Marika; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1998

This paper evaluates two theories of unemployment: the natural rate theory (whereby unemployment is depicted as … fluctuating around a reasonably stable natural rate) and the chain reaction theory (which views movements in unemployment as the … unemployment not only in the short run, but in the long run as well. The reason is that, in the presence of growing exogenous …

Persistent link: https://www.econbiz.de/10005504680

Regional Aspects of Unemployment in Europe and in Italy

Schioppa, Padoa; Kostoris, Fiorella - C.E.P.R. Discussion Papers - 1999

Unemployment in Europe is a worrying phenomenon not so much because it hits 18 million people, but because it almost … unemployment rate. Thus, understanding the Italian unemployment and finding effective solutions for it, is useful to understand and …

Persistent link: https://www.econbiz.de/10005067385

Central and East European Labour Markets in Transition: Developments, Causes, and Cures

Franz, Wolfgang - C.E.P.R. Discussion Papers - 1995

dynamics of employment and unemployment in order to identify key issues for the sources of the malfunctioning of these labour …

Persistent link: https://www.econbiz.de/10005067622

Active Labour Market Policy Effects for Women in Europe - A Survey

Bergemann, Annette; den Berg, Gerard J van - C.E.P.R. Discussion Papers - 2007

We survey the recent literature on the effects of active labour market policies on individual labour market outcomes like employment and income, for adult female individuals without work in European countries. We consider skill-training programs, monitoring and sanctions, job search assistance,...

Persistent link: https://www.econbiz.de/10005662001