Showing 1 - 3 of 3
Who gains from stimulating output? We explore a dynamic model with production subsidies where the population is heterogeneous in one dimension: wealth. There are two channels through which production subsidies redistribute resources across the population. First, poorer agents gain from a rise in...
Persistent link: https://www.econbiz.de/10005111978
Persistent link: https://www.econbiz.de/10005146350
We develop a dynamic model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up and non-competitive covenants, affect the incentive to accumulate human capital. When contracts are not enforceable, high barriers lower the outside value...
Persistent link: https://www.econbiz.de/10009194569