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Richardson, S. - Research School of Economics, College of Business and … - 1998

English-speaking ones) together with stubbornly higher levels of unemployment in many others. Australia has shared in the rise … persistent unemployment, butnot to the degree that many continental European countries have. This situation provides the …

Persistent link: https://www.econbiz.de/10005032882

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

Incentives to Work: Replacement Ratios and the Cost of Job Loss Among Indigenous Australians.

Daly, A.; Hunter, B. - Research School of Economics, College of Business and … - 1998

The relationship between the social welfare system and employment incentives has received considerable attention in the literature. This paper uses data from the National Aboriginal and Torres Strait Islander Survey to consider these issues for indigenous Australians. Two measures are...

Persistent link: https://www.econbiz.de/10004967983

The Transformation of Australia's Population, 1970 to 2030 Labour Force, Employment and Unemployment

Chapman, Bruce; Kapuscinsky, Cezary - Research School of Economics, College of Business and … - 2001

Persistent link: https://www.econbiz.de/10004971393