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Inefficient Equilibrium Unemployment in a Duocentric Economy with Matching Frictions

Lehmann, Etienne - 2013

This article examines unemployment disparities and efficiency in a densely populated economy with two job centers and workers distributed between them. We introduce commuting costs and search-matching frictions to deal with the spatial mismatch between workers and firms. In equilibrium, there...

Persistent link: https://www.econbiz.de/10013071292

Competing with Asking Prices

Lester, Benjamin - 2013

In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...

Persistent link: https://www.econbiz.de/10013087422

Equilibrium Unemployment and Retirement

Hairault, Jean-Olivier - 2012

As a preliminary step, we first provide some new empirical evidence that labor market conditions affect retirement decisions at the individual level: unemployed people are more likely to retire. Our main objective in this paper is then to propose an equilibrium unemployment approach to...

Persistent link: https://www.econbiz.de/10013106958

Population Growth and Multiple Equilibria : Inferences from a Modified Ramsey Model

Lehmijoki, Ulla - 2011

The demographic transition is introduced into the otherwise standard Ramsey model to generate multiple equilibria, poverty traps, and demography-driven cycles. The model is calibrated for global data to explore the demographic conditions under which multiplicity is realized. Three cases arise,...

Persistent link: https://www.econbiz.de/10013130458

Intra Firm Bargaining and Shapley Values

Bruegemann, Bjoern - 2015

The paper revisits the problem of wage bargaining between a firm and multiple workers. We show that the Subgame Perfect Equilibrium of the extensive-form game proposed by Stole and Zwiebel (1996a) does not imply a profile of wages and profits that coincides with the Shapley values as claimed in...

Persistent link: https://www.econbiz.de/10013016202

Cities, Towns, and Poverty : Migration Equilibrium and Income Distribution in a Todaro-Type Model with Multiple Destinations

Christiaensen, Luc J. - 2017

Should public investment be targeted to big cities or to small towns, if the objective is to minimize national poverty? To answer this policy question we extend the basic Todaro-type model of rural-urban migration to the case of migration from rural areas to two potential destinations, secondary...

Persistent link: https://www.econbiz.de/10012958052

Consumer Search Costs and Preferences on the Internet

Jolivet, Grégory - 2014

We analyse consumers' search and purchase decisions on an Internet platform. Using a rich dataset on all adverts posted … and transactions made on a major French Internet platform (PriceMinister), we show evidence of substantial price … dispersion among adverts for the same product. We also show that consumers do not necessarily choose the cheapest advert …

Persistent link: https://www.econbiz.de/10013043670

Pricing Neighborhoods

Eshaghnia, Sadegh S. M.; Heckman, James J.; Razavi, Goya - 2023

Education in Denmark is freely available. Despite near equal teacher salaries and per-pupil school expenditure across districts, there is substantial spatial heterogeneity in school quality as measured by teacher quality and student test scores. We argue that this is due to sorting of teachers...

Persistent link: https://www.econbiz.de/10014347799

Trade and Informality in the Presence of Labor Market Frictions and Regulations

Carneiro, Rafael Dix; Goldberg, Pinelopi K.; Meghir, Costas - 2021

We build an equilibrium model of a small open economy with labor market frictions and imperfectly enforced regulations. Heterogeneous firms sort into the formal or informal sector. We estimate the model using data from Brazil, and use counterfactual simulations to understand how trade affects...

Persistent link: https://www.econbiz.de/10013250247

Secular Satiation

Saint-Paul, Gilles - 2017

Satiation of need is generally ignored by growth theory. I study a model where consumers may be satiated in any given …

Persistent link: https://www.econbiz.de/10012950921