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作者：RIORDAN, MH; STAIGER, RW
作者单位：Stanford University; National Bureau of Economic Research
摘要：When current employers have more information about worker quality than do potential employers, sectoral shocks cause structural unemployment. That is, some workers laid off from an injured sector remain unemployed despite the fact that they are of sufficient quality to be productively employed in an expanding sector at the prevailing wage. Moreover, sectoral unemployment rates are not monotonic in the severity of sectoral shocks due to the interaction of layoff activity and hiring activity. Fi...
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作者：DICKENS, WT; LUNDBERG, SJ
作者单位：University of Washington; University of Washington Seattle
摘要：We estimate a labor supply model that permits hours restrictions of a simple but general form. Each individual chooses from among a finite set of jobs drawn at random from a market distribution, each offering a fixed quantity of hours. The polar cases of no constraints on hours worked and exogenous hours are nested within the general case. Our results are consistent with a substantial amount of rationing in the work hours of a sample of low-income men, most of whom are working less than they w...
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作者：KEMP, MC; LONG, NV; SHIMOMURA, K
作者单位：McGill University; Australian National University; Kobe University
摘要：Consider the optimal time path of a tax on capital income the proceeds of which are transferred to labour in a lump sum. It is known from earlier open-loop formulations that, if the optimal rate of tax converges to a point, it converges to zero, implying that, in the long run, a tax on capital income can do nothing for social welfare. It is now shown that the optimal rate of tax need not converge to zero and, in the case of feedback formulations, that it may converge to a positive or negative ...
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作者：DRISKILL, RA; MARK, NC; SHEFFRIN, SM
作者单位：University of California System; University of California Davis
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作者：BIGELOW, J; COOPER, R; ROSS, TW
作者单位：Boston University; University of British Columbia
摘要：The provision of product warranties when the exit of firms is possible is an example of a more general contracting problem without full commitment. When firms cannot precommit to future market participation, they ran exit if continued participation is not profitable, thereby avoiding outstanding warranty obligations. Incentives for market participation come from future profits which depend on future sales. The resulting intertemporal linkage between cohorts of consumers may create multiple, Pa...
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作者：BROCK, PL; TURNOVSKY, SJ
作者单位：National Bureau of Economic Research
摘要：This paper analyzes the impact of differential tariffs on consumption and investment in a specific factors model of a small open economy in which capital is accumulated over time. Particular attention is devoted to the welfare aspects, highlighting the cost of the intertemporal distortions produced by protective trade policies. Several specific welfare propositions are obtained. First, tariff protection is shown to create short-run benefits but long-run costs in welfare. Second, the second-bes...
