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Articles 1 - 8 of 8
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Relative Advantage, Queue Jumping, And Welfare Maximizing Weath Distribution, Alex Coram, Lyle Noakes
Relative Advantage, Queue Jumping, And Welfare Maximizing Weath Distribution, Alex Coram, Lyle Noakes
Economics Department Working Paper Series
Suppose individuals get utilities from the total amount of wealth they hold and from their wealth relative to those immediately below them. This paper studies the distribution of wealth that maximizes an additive welfare function made up of these utilities. It interprets wealth distribution in a control theory framework to show that the welfare maximizing distribution may have unexpected properties. In some circumstances it requires that inequality be maximized at the poorest and richest ends of the distribution. In other circumstances it requires that all wealth be given to a single individual.
Whose Money? Whose Time? A Nonparametric Approach To Modeling Time Spent On Housework, Sanjiv Gupta, Michael Ash
Whose Money? Whose Time? A Nonparametric Approach To Modeling Time Spent On Housework, Sanjiv Gupta, Michael Ash
Economics Department Working Paper Series
We argue that earlier quantitative research on the relationship between heterosexual partners’ earnings and time spent on housework has two basic flaws. First, it has focused on the effects of women’s shares of couples’ total earnings on their housework, and has not considered the simpler possibility of an association between women’s absolute earnings and housework. Consequently it has relied on unsupported theoretical restrictions in the modeling. We adopt a flexible, nonparametric approach that does not impose the polynomial specifications on the data that characterize the two dominant models of the relationship between earnings and housework, the “economic exchange” and “gender …
Pursuing Manufacturing-Based Export-Led Growth: Are Developing Countries Increasingly Crowding Each Other Out?, Arslan Razmi
Pursuing Manufacturing-Based Export-Led Growth: Are Developing Countries Increasingly Crowding Each Other Out?, Arslan Razmi
Economics Department Working Paper Series
This study empirically investigates the presence of crowding out effects emerging from intra- developing country competition in export markets for manufactured goods. Export equations are estimated for a panel consisting of twenty major developing country exporters of manufactures, after developing weighted price and quantity indexes based on their exports to thirteen major industrialized countries. The results indicate that in spite of an increase in the elasticity of industrialized country expenditures on imported products, crowding out effects became much more significant in the 1990s. The estimated crowding out effects vary across time periods, SITC categories, and levels of technological sophistication of …
Social Segregation And The Dynamics Of Group Inequality, Samuel Bowles, Rajiv Sethi
Social Segregation And The Dynamics Of Group Inequality, Samuel Bowles, Rajiv Sethi
Economics Department Working Paper Series
We explore the dynamics of group inequality when segregation of social networks places the initially less affluent group at a disadvantage in acquiring human capital. Extending Loury (1977), we demonstrate that (i) group differences in economic success can persist across generations in the absence of either discrimination or group differences in ability, provided that social segregation is sufficiently great, (ii) there is threshold level of integration above which group inequality cannot be sustained, (iii) this threshold varies systematically but non-monotonically with the population share of the disadvantaged group, (iv) crossing the threshold induces convergence to a common high level of …
Aspects Of Informalization And Income Distribution In Developing Countries: A Modified Specific Factors Approach, Arslan Razmi
Aspects Of Informalization And Income Distribution In Developing Countries: A Modified Specific Factors Approach, Arslan Razmi
Economics Department Working Paper Series
This paper explores aspects of increased informalization in developing countries with the help of a modified specific factors model with a fixed nominal wage in the formal sector, which is assumed to have a “lighthouse” effect on the informal sector wage. Both sectors produce a tradable good each, with informal sector production being embedded in international production networks. Comparative dynamic exercises that attempt to simulate recent economic developments in many developing countries yield plausible results, and suggest various channels for increased informalization. Contrary to standard sticky wage models, wage suppression in the formal sector leads to informalization. Changes in factor …
Border Wars: Tax Revenues, Annexation, And Urban Growth In Phoenix, Carol E. Heim
Border Wars: Tax Revenues, Annexation, And Urban Growth In Phoenix, Carol E. Heim
Economics Department Working Paper Series
Phoenix and neighboring municipalities, like many in the South and West, pursued a growth strategy based on annexation in the decades after World War II. This paper explores the link between annexation and competition for tax revenues. After discussing arguments for annexation, it traces the history of annexation in the Phoenix metropolitan area. A long-running series of "border wars" entailed litigation, pre-emptive annexations, and considerable intergovernmental conflict. The paper argues that tax revenues have been a key motivation for annexation, particularly since the 1970s. It then considers several related policy issues and argues that while opportunities for annexation are becoming …
An Asymmetric Dynamic Struggle Between Pirates And Producers, Alex Coram
An Asymmetric Dynamic Struggle Between Pirates And Producers, Alex Coram
Economics Department Working Paper Series
The purpose of this paper is to contribute to our understanding of the dynamics of struggles over resources by studying a game between a producer that can guard and buy fortifications and a pirate. It is assumed that the returns from defence and raiding depends on the ratio of the resources spent on each activity and that all produced goods can be stolen. It attempts to characterise the trajectory of the resources and the defence and raiding activities of the pirate and producer. I show, among other things, that the pirate’s strategy is to farm the producer and that the …
Japanese Growth And Stagnation: A Keynesian Perspective, Takeshi Nakatani, Peter Skott
Japanese Growth And Stagnation: A Keynesian Perspective, Takeshi Nakatani, Peter Skott
Economics Department Working Paper Series
This paper uses a modified Harrodian model to understand both the long period of rapid Japanese growth and the recent period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government intervention, we argue, took the Japanese economy onto a high-growth trajectory. Labour constraints began to appear around 1970, and a combination of high saving rates and slow population growth account for the stagnation of the 1990s. This combination produces a structural liquidity trap and threatens the sustainability of attempts to ensure near full employment through …fiscal policy or by running a persistent …