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Frictional Unemployment with Stochastic Bubbles

Vuillemey, Guillaume - 2016

Bubbles are recurrent events, which contribute to both macroeconomic and employment volatility. We introduce stochastic … bubbles in the standard search-and matching model of the labor market. The economy alternates between latent and bubbly states …, each being associated with a distinct solution for the market value of firms (respectively, stable or explosive). Bubbles …

Persistent link: https://www.econbiz.de/10012981503

To See is to Believe : Common Expectations in Experimental Asset Markets

Cheung, Stephen L. - 2012

We challenge the recent claim that mispricing in the experimental asset markets introduced by Smith, Suchanek, and Williams (1988) is merely an artefact of confusion over declining fundamental value, and can be eliminated through appropriate training. We instead propose that when training is...

Persistent link: https://www.econbiz.de/10013099096

Produce or Speculate? Asset Bubbles, Occupational Choice and Efficiency

Cahuc, Pierre - 2009

We study the macroeconomic effects of rational asset bubbles in an overlapping-generations economy where asset trading … are large, the private gains associated with trading asset bubbles may lead too many workers to become speculators …, thereby causing rational bubbles to lose their efficiency properties. Moreover, if speculation can be carried out by skilled …

Persistent link: https://www.econbiz.de/10013153172

Trade and Migration with Renewable Natural Resources : Out-of-Steady-State Dynamics

López, Ramón - 2010

Commodity price increases associated with the entry of China, India and other countries into the world economy has led to increased pressure on common-property renewable natural resources (NR). The problem is particularly worrisome for economies that obtain a large share of their income from the...

Persistent link: https://www.econbiz.de/10013143683

Demography, Capital Flows and Unemployment

Marchiori, Luca - 2011

This paper contributes to the already vast literature on demography-induced international capital flows by examining the role of labor market imperfections and institutions. We setup a two-country overlapping generations model with search unemployment, which we calibrate on EU15 and US data....

Persistent link: https://www.econbiz.de/10013118521

Migration, International Trade and Capital Formation : Cause or Effect?

Felbermayr, Gabriel - 2012

the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …

Persistent link: https://www.econbiz.de/10013098128

Human Capital Mobility : Implications for Efficiency, Income Distribution, and Policy

Wildasin, David E. - 2014

Mobility of highly-skilled workers affects and is affected by labor market conditions, taxes, and other policies. This paper documents the demographic and fiscal importance of international migration, especially in aging societies, reviews the efficiency and distributional effects of mobility,...

Persistent link: https://www.econbiz.de/10013053520

Global Aging and Fiscal Policy with International Labor Mobility : A Political Economy Perspective

Tosun, Mehmet Serkan - 2009

This paper uses an overlapping generations model with international labor mobility and a politically responsive fiscal policy to examine aging in developed and developing regions. Migrant workers change the political structure composed of young and elderly voters in both labor-receiving and...

Persistent link: https://www.econbiz.de/10013159749

Trade and Capital Flows : Substitutes or Complements? An Empirical Investigation

Belke, Ansgar Hubertus - 2019

This paper examines the linkages between the trade of goods and financial assets. Do both flows behave as complements (implying a positive correlation) or as substitutes (negative correlation)? Although a classic topic in international macroeconomics, the empirical evidence has remained...

Persistent link: https://www.econbiz.de/10012863793

Brain Drain in Globalization : A General Equilibrium Analysis from the Sending Countries' Perspective

Marchiori, Luca - 2013

The paper assesses the global effects of brain drain on developing economies and quantifies the relative sizes of various static and dynamic impacts. By constructing a unified generic framework characterized by overlapping-generations dynamics and calibrated to real data, this study incorporates...

Persistent link: https://www.econbiz.de/10013095832