Wedges: Distribution, distortions, and market integration

نویسندگان

چکیده

برای دانلود باید عضویت طلایی داشته باشید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Transportation Market Distortions

Properly functioning markets effi ciently allocate resources. Such markets must refl ect certain principles, including consumer options, cost-based pricing, and economic neutrality. Transportation markets oft en violate these principles. This report examines these distortions and their implications for transport planning. Transportation market distortions include various types of underpricing o...

متن کامل

Contractual distortions in a market with frictions

This paper analyses contract design in a decentralized market environment with frictions. While principals (e.g., firms) have all contractual power, their market power is constrained as agents (e.g., workers) can choose to wait and search for better offers. We find that results depend crucially on how market frictions affect agents’ utilities. With type-independent costs of search and waiting, ...

متن کامل

Market Integration and Contagion

Contagion is usually defined as correlation between markets in excess of what would be implied by economic fundamentals; however, there is considerable disagreement regarding the definitions of the fundamentals, how the fundamentals might differ across countries, and the mechanisms that link the fundamentals to asset returns. Our research takes, as a starting point, a two-factor model with time...

متن کامل

Tax reforms under market distortions in product and labour markets

Using a two-agent model comprised of capitalists and workers, this paper examines the importance of imperfect competition in product and labour markets in determining the welfare effects of tax reform. The reform considered consists of eliminating the capital tax alongside a concurrent rise in the labour tax. In contrast to the perfectly competitive model, models with product or labour market f...

متن کامل

Market distortions and local indeterminacy: A general approach

We provide a general methodology to study the role of market distortions on local indeterminacy and bifurcations. We extend the well-known Woodford (1986) model to account for market distortions, introducing general specifications for three crucial functions: the real interest rate, the real wage and the workers’ offer curve. The elasticities of these three functions play a key role on local dy...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: European Journal of Political Economy

سال: 2019

ISSN: 0176-2680

DOI: 10.1016/j.ejpoleco.2019.01.004