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Articles 1 - 5 of 5
Full-Text Articles in Economic Theory
Government Financial Policy And Capital, Dean D. Croushore
Government Financial Policy And Capital, Dean D. Croushore
Economics Faculty Publications
Economists have long been concerned about the best way to finance government deficits. Finding the proper fiscal policy and monetary policy mix is a crucial decision. When government debt grows too fast, interest rates rise and capital is crowded out. If the money growth rate is excessive, inflation occurs.
The study of this issue at the theoretical level requires a model which incorporates the following features: (1) modeling money and bonds as endogenous financial assets, whose rates of return are determined in general equilibrium, (2) examination of the utility maxi mization decisions of individuals, so that welfare analysis of alternative …
Comparison Of Human Capital And Structural Models Of The Distribution Of Earnings: Evidence From Connecticut, A, Bradford F. Mills, Boris E. Bravo-Ureta
Comparison Of Human Capital And Structural Models Of The Distribution Of Earnings: Evidence From Connecticut, A, Bradford F. Mills, Boris E. Bravo-Ureta
Storrs Agricultural Experiment Station
No abstract provided.
Dissolving A Partnership Efficiently, Peter Cramton, Robert Gibbons, Paul Klemperer
Dissolving A Partnership Efficiently, Peter Cramton, Robert Gibbons, Paul Klemperer
Peter Cramton
Several partners jointly own an asset that may be traded among them. Each partner has a valuation for the asset; the valuations are known privately and drawn independently from a common probability distribution. We characterize the set of all incentive-compatible and interim-individually-rational trading mechanisms, and give a simple necessary and sufficient condition for such mechanisms to dissolve the partnership ex post efficiently. A bidding game is constructed that achieves such dissolution whenever it is possible. Despite incomplete information about the valuation of the asset, a partnership can be dissolved ex post efficiently provided no single partner owns too large a …
Schumpeter Plus Optimism Equals Gilder (Ceteris Paribus), Spencer J. Pack
Schumpeter Plus Optimism Equals Gilder (Ceteris Paribus), Spencer J. Pack
Economics Faculty Publications
No abstract provided.
A Note On Interfirm Implications Of Wages And Status, Philip E. Graves, Dwight Lee, Robert L. Sexton
A Note On Interfirm Implications Of Wages And Status, Philip E. Graves, Dwight Lee, Robert L. Sexton
PHILIP E GRAVES
There was no abstract for this brief paper.