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Full-Text Articles in Social and Behavioral Sciences
Unemployment And Economic Integration For Developing Countries, Haiwen Zhou
Unemployment And Economic Integration For Developing Countries, Haiwen Zhou
Economics Faculty Publications
While financial or trade integration between countries may increase the size of the market and aid the adoption of more advanced technologies, will it also increase the level of urban unemployment for a developing country? In this model, there is unemployment in the urban sector. Manufacturing firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Financial firms provide capital to manufacturing firms and they also engage in oligopolistic competition. We show that an increase in the wage rate in the manufacturing sector changes neither the level of technology nor the level of employment in the manufacturing …
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
The Choice Of Technology And Equilibrium Wage Rigidity, Haiwen Zhou
Economics Faculty Publications
In this general equilibrium model, firms engage in oligopolistic competition and choose increasing returns technologies to maximize profits. Capital and labor are the two factors of production. The existence of efficiency wages leads to unemployment. The model is able to explain some interesting observations of the labor market. First, even though there is neither long-term labor contract nor costs of wage adjustment, wage rigidity is an equilibrium phenomenon: an increase in the exogenous job separation rate, the size of the population, the cost of exerting effort, and the probability that shirking is detected will not change the equilibrium wage rate. …
Costs Of Defending Against Rising Sea Levels And Flooding In Mid-Atlantic Metropolitan Coastal Areas: The Basic Issues, James V. Koch
Costs Of Defending Against Rising Sea Levels And Flooding In Mid-Atlantic Metropolitan Coastal Areas: The Basic Issues, James V. Koch
Economics Faculty Publications
Rising ocean levels have resulted in increasingly severe flooding in numerous metropolitan coastal areas. What would it cost to minimize or eliminate such damage? Relatively little economic work has been done to provide an answer, at least partially because some authorities believe attempts to deal with flooding ultimately are futile. Further, discussions of funding always involve massive welfare transfers from the non-flooded to the flooded. The cost of erecting a single mile of new sea wall exceeds $35 million in 2009 dollars and annual maintenance costs range between 5 and 10 percent.