-
作者：Cazzavillan, G
作者单位：Universita Ca Foscari Venezia; University of Milano-Bicocca
摘要：In this paper we study the occurrence of local indeterminacy, endogenous fluctuations, and bifurcations in a simple non-monetary 2-period overlapping generations economy (in which people do not consume when young) with capital-labor substitution, elastic labor supply, and productive externalities. We show that, in contrast with the local dynamics generated by many one-sector models of capital accumulation studied in the current literature, local indeterminacy and, therefore, stationary stochas...
-
作者：Conley, JP; Wooders, MH
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Warwick
摘要：We consider a Tiebout economy with differential crowding and public projects in which agents are distinguished by their tastes and genetic endowments. Agents choose which crowding characteristic, for example, a skill, they with to express, and this affects their value to other members of their jurisdiction, club, firm. etc. An agent's choice is influenced both by his genetic endowment. which affects his cost of acquiring crowding characteristics. and by his preferences over which crowding char...
-
作者：Weder, M
作者单位：Humboldt University of Berlin
摘要：This paper presents a small open economy version of the J. Benhabib and R. E. A. Farmer (1996, J. Monet. Econ. 37, 421-443) two sector optimal growth model with production externalities. It is shown that indeterminacy is considerably easier to obtain under a regime of perfect world capital markets than in the closed economy variant. Furthermore. the result is not dependent on a high labor supply elasticity since that input is fixed. The paper also examines a variant which takes into account ex...
-
作者：Miyagawa, E
作者单位：Columbia University
摘要：We consider the Shapley-Scarf house allocation problem where monetary transfers are allowed. We characterize the class of mechanisms that are strategy-proof ex post individually rational, ex. post budget-balanced, and collusion-proof In these mechanisms, the price of each object is fixed in advance, and the objects are reallocated according to the (unique) core assignment of the Shapley-Scarf economy associated with the prices. The special case in which all prices are zero is the core mechanis...
-
作者：Gomis-Porqueras, P
作者单位：University of Texas System; University of Texas Austin
摘要：Many economics restrict-and in some cases, severely restrict-the access of poor agents to savings opportunities. This paper suggests conditions under which there are good reasons to do so, from the perspective of all agents-including the poor. (C) 2001 Academic Press.
-
作者：Cozzi, G
作者单位：Cornell University; Sapienza University Rome
摘要：The main issue raised in this note is the nonequivalence between the infinite-horizon model where agents are infinitely lived and the successive generations model with altruistic finitely lived agents: in the presence of a nonnegative bequest requirement, endowment heterogencity imposes a revision of the acritical adoption of the infinitely lived agent representation in modern macro-economics. By analysing nonstationary monetary equilibria in a reinterpretation of Townsend's tumpike model. thi...
-
作者：Aaberge, R
作者单位：Statistics Norway
摘要：This paper is concerned with distributions of income and the ordering of related Lorenz curves. By introducing appropriate preference relations on the set of Lorenz curves, two alternative axiomatic characterizations of Lorenz curve orderings are proposed. Moreover, the Gini coefficient is recognized to be rationalizable under both axiom sets; as a result, a complete axiomatic characterization of the Gini coefficient is obtained. Furthermore, axiomatic characterizations of the extended Gini fa...
-
作者：Boldrin, M; Nishimura, K; Shigoka, T; Yano, M
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Kyoto University; Kyoto University; Keio University
摘要：We study a class of two-sector endogenous growth models in the presence of a positive external effect. The class of models exhibits global indeterminacy of equilibria. The qualitative properties of a set of examples are analyzed by means of analytical and numerical methods. We also construct robust examples of both topological and ergodic chaos. Journal of Economic Literature Classification Numbers: E30, O41. (C) 2001 Academic Press.
-
作者：Corchón, LC; Iturbe-Ormaetxe, I
作者单位：Universidad Carlos III de Madrid; Universitat d'Alacant
摘要：So far, the theory of distributive justice has tried to single out a unique criterion of justice, different people hold conflicting ideas about justice. We propose a procedure for representing these individual opinions by means of aspiration functions. We present three different ways of aggregating such opposing opinions into a socially acceptable judgement. Furthermore, we show that many well-known concepts are special cases of our approach. We study, under a restriction on the form of the as...
-
作者：Laussel, D; Le Breton, M
作者单位：Aix-Marseille Universite
摘要：This paper is a contribution to the theory of common agency initiated by B. D. Bernheim and M.D. Whinston (1986, Quart. J. Econ. 101, 1-31). By common agency we mean the following: an agent decides upon an action which affects its well-being as well as the well-being of n other individuals (the principals), each of whom offers a menu of payments contingent on the action chosen. Under complete information Bernheim and Whinston prove the existence of an interesting subset of Nash equilibria they...
