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complementarity in the practice. The model is estimated on panel data for workers and firms in Russia, facilitating identification …
Persistent link: https://www.econbiz.de/10009476703
as follows: (i) a higher dependence on primary commodities reduces economic growth, increases income inequality, and … slows down the rate of human capital accumulation; (ii) the negative effects of primary commodities on growth, inequality … the case of growth and inequality, the negative effect of primary commodities and the differences of the slope …
Persistent link: https://www.econbiz.de/10009448468
This dissertation is an empirical investigation on the microeconomics of growth, focusing on the role of shocks and on …
Persistent link: https://www.econbiz.de/10009466256
growth model such a type of poverty trap is established as a locally stable steady state. Imperfect capital markets prevent … identified, which ought to be internalised. The thesis analyses two types of instruments that could generate economic growth via … generate a dynamic growth impulse which can leads a society out of backwardness and starts a transition towards an educated …
Persistent link: https://www.econbiz.de/10009476205
The literature on economic growth and development has focused considerable attention on questions of risk management …
Persistent link: https://www.econbiz.de/10009444410
I develop and structurally estimate an equilibrium model of the college market. Students, who are heterogeneous in both abilities and preferences, make college application decisions, subject to uncertainty and application costs. Colleges observe only noisy measures of student ability and set up...
Persistent link: https://www.econbiz.de/10009439060
Obstfeld (1994) shows that a currency crisis can be explained by the occurrence of multiple equi-libria (2 interior equilibria). For the same level of economic fundamentals, it may be optimal forthe government either to devalue or to maintain the peg. The decision depends on the...
Persistent link: https://www.econbiz.de/10009465475
In a sector in which oligopolistic firms face a sector-specific labour supply constraint, there may be no marketclearing wage. Instead, at some wages, there can be two equilibria, one with involuntary unemployment and one with unfilled vacancies.
Persistent link: https://www.econbiz.de/10009471635
This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model of monopsonistic competition. Multiple equilibria arise because of a strategic complementarity in investment decisions.
Persistent link: https://www.econbiz.de/10009471766
Consider an exchange economy with multiple competitive equilibria. Agents know the set of equilibria, but not which will be selected. To insure against unfavorable equilibrium outcomes, they trade on markets for commodities contingent on the equilibrium price vector. Such price-contingent...
Persistent link: https://www.econbiz.de/10009472288