Showing 1 - 6 of 6
Persistent link: https://www.econbiz.de/10002905739
This paper relates economic development to transaction costs. It reveals the triad transaction costs-market failure-economic underdevelopment. Many scholars attribute the problems of development to the failure of markets to perform their role of resource allocation. Some deny market failure and...
Persistent link: https://www.econbiz.de/10011633956
Persistent link: https://www.econbiz.de/10011845210
Persistent link: https://www.econbiz.de/10009305967
We study the time path of inflation and unemployment using the Blanchard treatment of the relationship between the two and taking the monetary policy condition into account. We solve the model both in continuous and discrete time and compare the results. The economic dynamics of inflation and...
Persistent link: https://www.econbiz.de/10011571444
Our paper studies the causes of poverty from the perspective of job search. We show that poor people remain poor because they have less time and initial endowment to search for a better job. Initial endowment is key to successful job search, as one can afford not to work and search longer for a...
Persistent link: https://www.econbiz.de/10011572991