Housing, Adjustment Costs, and Macro Dynamics
نویسندگان
چکیده
منابع مشابه
Trade Adjustment Costs and Assistance: the Labour Market Dynamics
To benefit from trade and trade liberalization, economies have to reallocate factors of production within and between sectors. This structural change is the source of gains from trade but brings with it costs of adjustment. Evidence has, for instance, confirmed that some groups of workers tend to face temporary unemployment and lower income when their jobs are lost as a result of international ...
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We show that the effects of taxes on labor supply are shaped by interactions between adjustment costs for workers and hours constraints set by firms. We develop a model in which firms post job offers characterized by an hours requirement and workers pay search costs to find jobs. We present evidence supporting three predictions of this model by analyzing bunching at kinks using Danish tax recor...
متن کاملHousing market adjustment and land - supply constraints
Significant differences exist between national, regional, and local housing markets in the extent to which land is available for new housing development and in the planning regime which regulates the supply of land. The author examines the impact of different levels and forms of planning restraint on the process of market adjustment, including effects on house and land prices, on quantity of ne...
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It has been widely known that neoclassical growth models with su¢cient increasing returns in production may feature indeterminacy. This note shows that investment adjustment costs increase the required degree of increasing returns for indeterminacy to arise. Under empirically plausible levels of investment adjustment costs, we need implausibly large degree of increasing returns to generate inde...
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ژورنال
عنوان ژورنال: CESifo Economic Studies
سال: 2011
ISSN: 1610-241X,1612-7501
DOI: 10.1093/cesifo/ifr019