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作者：Manzini, P; Mariotti, M
作者单位：University of London; IZA Institute Labor Economics
摘要：Several contractual situations are such that the parties may 'step out' of negotiations and take up outside opportunities only if there is mutual consent to do so. Examples include employer - employee negotiations, divorce and inheritance procedures, and arbitration. To analyse such cases we develop the general concept of a 'joint outside option' and study its effect in the standard bargaining game. Examples from the international trade and theory of the firm are considered in some depth.
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作者：Haucap, J; Wey, C
作者单位：Ruhr University Bochum; Technical University of Berlin
摘要：This paper examines how different unionisation structures affect firms' innovation incentives and industry employment. We distinguish three modes of unionisation with increasing degree of centralisation: (1) 'decentralisation' where wages are determined independently at the firm-level, (2) 'coordination' where one industry union sets individual wages for all firms and (3) 'centralisation' where an industry union sets a uniform wage rate for all firms. While firms' investment incentives are lar...
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作者：Garner, P
作者单位：Brigham Young University
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作者：Lyssiotou, P; Pashardes, P; Stengos, T
作者单位：University of Cyprus; University of Guelph
摘要：We propose a consumer demand system approach to estimating the size of the black economy where alternative hypotheses affecting the empirical results can be tested in a nested framework. This approach allows for the estimation of the under-reporting of household income from various sources, dispensing with the need to use arbitrary criteria to classify households by their main source of income. It also avoids potential bias in black economy estimates arising from mistaking preference heterogen...
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作者：Meghir, C
作者单位：University of London; University College London
摘要：Friedman's book on the consumption function is one of the great works of Economics demonstrating how the interplay between theoretical ideas and data analysis can lead to major policy implications. We present a short review of Friedman's permanent income hypothesis, the origins of the idea and its theoretical foundations. We give a brief over-view of its influence in modern economics and discuss some relevant empirical results and the way they relate to the original approach taken by Friedman.
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作者：Iyigun, MF; Owen, AL
作者单位：University of Colorado System; University of Colorado Boulder; Hamilton College
摘要：We examine the relationship between income inequality and variability in aggregate consumption growth. In high-income countries, greater income inequality appears to be associated with more volatility in consumption growth, whereas in lower-income countries, higher levels of income inequality tend to be associated with less volatility. We present evidence that variability in real GDP growth is also related to income inequality in the same way. Our results suggest that the level of financial de...
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作者：Prasad, K
作者单位：State University System of Florida; Florida State University
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作者：Lagerlöf, J
作者单位：Centre for Economic Policy Research - UK
摘要：Suppose an altruistic person, A, is willing to transfer resources to a second person, B, if B comes upon hard times. If B anticipates that A will act in this manner, B will save too little from both agents' point of view. This is the Samaritan's dilemma. This paper shows that the undersaving result is mitigated if we relax the standard assumption of complete information, because if A is uncertain about how big B's need for support is, B will have an incentive to signal that he is in great need...
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作者：Cheshire, P; Sheppard, S
作者单位：University of London; London School Economics & Political Science
摘要：This paper explores the sources and impact of variations of a given school quality at either primary or secondary level as capitalised into the price of houses. The results provide new evidence on the complex and subtle ways in which housing markets capitalise the value of local public goods such as school quality and Suggest that this is highly nonlinear. We expect variation in the capitalised price according to the elasticity of stipply of 'school quality' in the local market, the certainty ...
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作者：Kaas, L; von Thadden, L
作者单位：University of Vienna
摘要：We consider a dynamic general equilibrium model with capital accumulation and collective wage bargaining and investigate how unemployment responds to structural shocks under two stylised budgetary policies. Under balanced budgets, tax adjustments lead to higher unemployment on impact but enable a quick recovery of employment. By contrast, unbalanced budgets mitigate unemployment effects on impact but dynamics are more persistent due to weaker capital accumulation and future fiscal consolidatio...
