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Differences in wages, employment, and capital between worker-owned and capitalist enterprises are computed from a …, employment, and capital equations largely corroborate the implications of the behavioral models of the two types of enterprise …
Persistent link: https://www.econbiz.de/10010276248
the consequence of the occurrence of credit rationing on farmer's capital accumulation, investment and supply. The method … discount rate. Finally, if the uncertainty is introduced, then the level of investment spending and capital accumulation is …
Persistent link: https://www.econbiz.de/10010299356
This paper is about “Capital in the Twenty-first Century” by Thomas Piketty. It identifies his central macroeconomic …
Persistent link: https://www.econbiz.de/10010352018
The elasticity of factor substitution between capital and labor is a crucial parameter in many economic fields. However … and 2016, this paper provides the first meta-regression analysis of capital-labor substitution elasticities for the U …
Persistent link: https://www.econbiz.de/10011539569
We analyse the evolution of capital and labour (mis)allocation across firms in five euro-area countries (Belgium … emerge. First, in all countries with the exception of Germany, capital allocation has worsened over time whereas the … efficiency of labour reallocation has not changed significantly. Second, the observed increase in capital misallocation has been …
Persistent link: https://www.econbiz.de/10011606026
Collective consumption decisions taken by the members of a household may prove inefficient. The impact of such inefficient household decisions on market performance is investigated. At one extreme, market efficiency can occur even when household decisions are inefficient, namely when household...
Persistent link: https://www.econbiz.de/10010292768
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is common knowledge, except that bidders have private...
Persistent link: https://www.econbiz.de/10010325804
Economic experiments conducted in laboratories employing an induced-values methodology can report on allocative efficiencies observed. This methodology is limited by requiring the experimenter to know subjects' motivations, an impossibility in field experiments. Allocative efficiency implies a...
Persistent link: https://www.econbiz.de/10010332372
[Staatliche Bankgarantien und Allokationseffizienz] Im Zuge der jüngsten Finanzkrise haben viele Regierungen ihre … Bürgschaften auf die Kreditvergabe identifizieren zu können („Allokationseffizienz“). Unter Verwendung zusammengeführter Bank- und … Unternehmensdaten zeigt sich, dass staatliche Garantien diese Allokationseffizienz mindern. Werden Garantien gewährleistet, investieren …
Persistent link: https://www.econbiz.de/10011306638
Globalization increasingly involves less-developed countries (LDCs), i.e., economies which usually suffer from severe imperfections in their financial systems. Taking these imperfections seriously, we analyze how credit frictions affect the distributive impact of trade liberalizations. We find...
Persistent link: https://www.econbiz.de/10010316053