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General equilibrium theory is a branch of theoretical economics. It seeks to explain the behaviour of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that a set of prices exists that will result in an overall equilibrium, hence general equilibrium, in contrast to partial equilibrium, which only analyses single markets.
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Job Turnover and Policy Evaluation: A General Equilibrium …
This environment stresses the heterogeneous development of firms and proves a natu- ral setting in which to analyze policies that affect firm-level adjust-.
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Date Published: 8/19/2022
View: 7189
Job Turnover and Policy Evaluation: A General Equilibrium …
This paper builds a general equilibrium model of this reallocation process, calibrates it using data on firm-level dynamics, and evaluates the aggregate …
Source: www.journals.uchicago.edu
Date Published: 12/1/2022
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Job Turnover and Policy Evaluation: A General … – EIEF
A stationary equilibrium consists of an output price p, a mass of entrants M, a measure of incumbent firms µ decision rules. N (s, n;p) and X (s, n;p) and …
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Date Published: 11/2/2021
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Job Turnover and Policy Evaluation: A General Equilibrium …
We find that a tax on job destruction at the firm level has a sizable … Job Turnover and Policy Evaluation: A General Equilibrium Analysis.
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Date Published: 7/15/2021
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Job Turnover and Policy Evaluation: A General … – BibSonomy
… A General Equilibrium Analysis. H. Hopenhayn, and R. Rogerson. Journal of Political Economy 101 (5): 915 (Jan 1, 1993 )doi: 10.1086/261909.
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Date Published: 12/12/2021
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Job Turnover and Policy Evaluation: A General Equilibrium …
The journal of political economy. , 1993, Vol.101(5), p.915-938 ,. Job Turnover and Policy Evaluation: A General Equilibrium Analysis 检查馆藏CKGSB_BJ BJ_CN.
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Job Turnover And Policy Evaluation A General Equilibrium Analysis
Spanish reforms are calibrated the entries for general and job turnover policy a equilibrium evaluation analysis has worsened over autarky without.
Source: ibuycars.co.za
Date Published: 1/21/2021
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(PDF) Job turnover, unemployment and labor market institutions
We construct an intertemporal general equilibrium model with search … (6) evaluation of labor market policies and projects and (7) general.
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Date Published: 11/28/2021
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주제와 관련된 더 많은 사진을 참조하십시오 General equilibrium theory. 댓글에서 더 많은 관련 이미지를 보거나 필요한 경우 더 많은 관련 기사를 볼 수 있습니다.
주제에 대한 기사 평가 job turnover and policy evaluation a general equilibrium analysis
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Job Turnover and Policy Evaluation: A General Equilibrium Analysis
Abstract
Recent empirical work indicates that job creation and destruction rates are large, implying significant amounts of job reallocation across firms. This paper builds a general equilibrium model of this reallocation process, calibrates it using data on firm-level dynamics, and evaluates the aggregate implications of policies that interfere with this process. We find that a tax on job destruction at the firm level has a sizable negative impact on total employment: a tax equal to 1 year’s wages reduces employment by roughly 2.5 percent. More striking, however, are the welfare consequences: the cost in terms of consumption of this same tax is greater than 2 percent. The mechanism through which this welfare loss arises is apparently a decrease in average productivity, since this policy results in a decrease in average productivity of over 2 percent.
(PDF) Job Turnover and Policy Evaluation: A General Equilibrium Analysis
Abstract: Recent evidence shows that within an industry, smaller firms grow faster and are more likely to fail than large firms. This paper provides a theory of selection with incomplete information that is consistent with these and other findings. Firms learn about their efficiency as they operate in the industry. The efficient grow and survive; the inefficient decline and fail. A perfect foresight equilibrium is proved by means of showing that it is a unique maximum to discounted net surplus. The maximization problem is not standard, and some mathematical results might be of independent interest. 1. THEORY AND EVIDENCE ON THE GROWTH AND SURVIVAL OF FIRMS Do SMALL FIRMS grow faster than large firms? Are they less likely to survive? Early studies found no relation between the size of firms and their growth rates [8, 14, 16]. The growth of firms seemed to be proportional to their size. In later work, adjustment costs with constant returns to scale were shown to imply that firms should grow in proportion to their size [10, 11]. Recent evidence from larger samples tells a different story. Mansfield [13] finds that smaller firms have higher and more variable growth rates. Du Rietz [6], in a sample of Swedish firms, again finds that smaller firms grow faster, and that they are less likely to survive [6,8,13]. These findings conflict with the adjustment costs theory in which all firms grow at the same rate, and in which failure does not happen. To explain these deviations from the proportional growth law, I propose a theory of “noisy” selection. Efficient firms grow and survive; inefficient firms decline and fail. Firms differ in size not because of the fixity of capital, but because some discover that they are more efficient than others. The model gives rise to entry, growth, and exit behavior that agrees, broadly, with the evidence. The model also agrees with some more tentative findings. First, firm size and concentration seem to be positively related to rates of return.2 Second, the correlation over time of rates of return is higher for larger firms and in the concentrated industries [15, 17]. Third, the variability of rates of return at a point in time is higher in the concentrated industries [17]. Finally, higher concentration is associated with higher profits for the larger firms, but not for the smaller firms
Job Turnover and Policy Evaluation: A General Equilibrium Analysis
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