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Distribution and Growth in an Economy with Limited Needs
Saint-Paul, Gilles - CESifo - 2001
knowledge sector is bounded, as productivity increases, the economy moves from a “Solovian zone“ where wages increase with … their bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than … always reduces employment in the material goods sector. International trade may reduce wages in poor countries and increase …
Persistent link: https://www.econbiz.de/10005181434
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Factor Income Distribution and Endogenous Economic Growth - When Piketty Meets Romer
Irmen, Andreas - 2017
We scrutinize Thomas Piketty's (2014) theory concerning the relationship between an economy's long-run growth rate, its capital-income ratio, and its factor income distribution put forth in his recent book Capital in the Twenty-First Century. We find that a smaller long-run growth rate may be...
Persistent link: https://www.econbiz.de/10012965706
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Automation, new technology and non-homothetic preferences
Struck, Clemens C.; Velic, Adnan - 2019
To rationalize a substantial income share of labor despite progressive task automation over the centuries, we present a simple model in which demand moves along a vertically differentiated production structure toward goods of increasing sophistication. Automation of more sophisticated goods...
Persistent link: https://www.econbiz.de/10012012963
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Multimarket Linkages, Cartel Discipline and Trade Costs
Agnosteva, Delina - 2018
We build a model of tacit collusion between firms that operate in multiple markets to study the effects of trade costs. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are strategically linked via the incentive compatibility constraint....
Persistent link: https://www.econbiz.de/10012926563
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The Impact of Trade on Employment, Welfare, and Income Distribution in Unionized General Oligopolistic Equilibrium
Egger, Hartmut - 2010
This paper sets up a general oligopolistic equilibrium model with unionized labor markets. By accounting for productivity differences, the model features profit and wage differentials across industries. We use this setting to study the impact of trade liberalization on employment, welfare, and...
Persistent link: https://www.econbiz.de/10013149008
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Trade, Wages, and Productivity
Behrens, Kristian - 2012
firms, and multiple asymmetric regions. Wages, productivity, consumption diversity, and markups across firms and markets are …
Persistent link: https://www.econbiz.de/10013097109
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Productive Government Expenditure and Economic Growth
Irmen, Andreas; Kuehnel, Johanna - 2021
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10013316522
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Informing consumers about their own preferences
Peitz, Martin; Inderst, Roman - 2012
We analyze a model of monopolistic price discrimination where only some consumers are originally sufficiently informed about their preferences, e.g., about their future demand for a utility such as electricity or telecommunication. When more consumers become informed, we show that this benefits...
Persistent link: https://www.econbiz.de/10011489927
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Platform Intermediation in a Market for Differentiated Products
Galeotti, Andrea - 2008
We study a two-sided market where a platform attracts firms selling differentiated products and buyers interested in those products. In the unique subgame perfect equilibrium of the game, the platform fully internalizes the network externalities present in the market and firms and consumers all...
Persistent link: https://www.econbiz.de/10012772229
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'Unwarranted' Wage Changes and the Return on Capital
Katsimi, Margarita - 2009
models, in which “unwarranted” wages changes and the return on capital are endogenously determined, do not necessarily …
Persistent link: https://www.econbiz.de/10013156013