Showing 1 - 10 of 120
Persistent link: https://www.econbiz.de/10005405681
This paper shows how predation breaks the links between an economy's aggregate resourceendowment and aggregate consumption and between the interpersonal distribution of endowments and the interpersonal distribution of consumption. We construct a general-equilibrium model in which some people...
Persistent link: https://www.econbiz.de/10005088878
This paper studies the relation between inequality and welfare in a general- equilibrium model in which people can choose to be either producers or preda- tors. We assume some people (the privileged) are well endowed with human capital and other people (the unprivileged) are poorly endowed with...
Persistent link: https://www.econbiz.de/10005575782
This paper incorporates the economic theory of predation into the theory of economic growth. The analytical framework is a dynamic general-equilibrium model of the interaction between two dynasties, one of which is a potential predator and the other is its prey. Each generation of each dynasty...
Persistent link: https://www.econbiz.de/10005777382
This paper analyzes a general-equilibrium model in which each person can choose to be either a producer or a predator. This model shows how predation breaks the link between the interpersonal distribution of productive resources and the inter-personal distribution of consumption. Specifically,...
Persistent link: https://www.econbiz.de/10005823331
This paper offers an explanation for observed differences across countries in educational policies and in resulting interpersonal distributions of human capital. We analyze a general-equilibrium model in which, as a result of the apportionment of natural ability, nurturing, and publicly financed...
Persistent link: https://www.econbiz.de/10005829714
Persistent link: https://www.econbiz.de/10005188337
Persistent link: https://www.econbiz.de/10005201290
This paper explores dimensional analysis of production and utility functions in economics. As raised by Barnett, dimensional analysis is important in consistency checks of economics functions. However, unlike Barnett's dismissal of CES and Cobb-Douglas production functions, we will demonstrate...
Persistent link: https://www.econbiz.de/10011107885
In this paper, several flaws of the basic no-capital/labor-only New Keynesian model are discussed. Some flaws were left undiscovered because mass of varieties n in Dixit-Stiglitz aggregator is often considered as not affecting overall outcomes. Only when n=1 would ordinary results of the basic...
Persistent link: https://www.econbiz.de/10011109474