Matches in SemOpenAlex for { <https://semopenalex.org/work/W1922032486> ?p ?o ?g. }
Showing items 1 to 77 of
77
with 100 items per page.
- W1922032486 abstract "This dissertation aims to analyze aggregate consequences of market imperfections. In particular, it is interested in the effects of capital market imperfections and contracting constraints on the efficiency of the allocation and, subsequently, the prospects for growth. In the first chapter, lotteries are introduced into the framework of Galor and Zeira (1993). This is a growth model with imperfect capital markets and indivisible investment permitting an individual poverty trap. Allowing for lotteries leads to a quite remarkable overturn of the original result: more severe capital market imperfections may increase aggregate consumption in finite time. Intuitively, whenever lotteries dominate an imperfect capital market as a means of capital allocation, increasing the relative attractiveness of lotteries also increases allocative efficiency. The second chapter of this dissertation analyzes the effects of intra-firm bargaining on the formation of firms under imperfect capital markets and contracting constraints. In equilibrium, wealth inequality induces a heterogenous distribution of firm sizes allowing for firms both too small and too large in terms of technical efficiency. The findings connect well to empirical facts as the missing middle of size distributions in less developed countries. The model is able to encompass a non-monotonic relationship between inequality and aggregate wealth, providing a theoretical framework for policy analysis of foreign aid and investment. The last chapter finds that non-transferabilities of utility in markets, caused by e.g. contracting constraints, may induce inefficient incentives for non-contractible investments taking place prior to markets. The timing of markets with respect to the investment affects their efficiency. Applying this results to a model of education choice and labor markets we find that markets opening only after agents have invested may exhibit inefficient over-education whereas markets that open only prior to investment do not. Hence, enforcing ex post markets by e.g. prolonging compulsory schooling, may lead to over-education and inefficient labor market allocations." @default.
- W1922032486 created "2016-06-24" @default.
- W1922032486 creator A5045616389 @default.
- W1922032486 date "2005-01-01" @default.
- W1922032486 modified "2023-09-28" @default.
- W1922032486 title "Aggregate Consequences of Market Imperfections" @default.
- W1922032486 hasPublicationYear "2005" @default.
- W1922032486 type Work @default.
- W1922032486 sameAs 1922032486 @default.
- W1922032486 citedByCount "0" @default.
- W1922032486 crossrefType "dissertation" @default.
- W1922032486 hasAuthorship W1922032486A5045616389 @default.
- W1922032486 hasConcept C10138342 @default.
- W1922032486 hasConcept C138885662 @default.
- W1922032486 hasConcept C143910263 @default.
- W1922032486 hasConcept C144024400 @default.
- W1922032486 hasConcept C162324750 @default.
- W1922032486 hasConcept C166957645 @default.
- W1922032486 hasConcept C175444787 @default.
- W1922032486 hasConcept C17744445 @default.
- W1922032486 hasConcept C196345963 @default.
- W1922032486 hasConcept C199539241 @default.
- W1922032486 hasConcept C27548731 @default.
- W1922032486 hasConcept C2778661386 @default.
- W1922032486 hasConcept C2780310539 @default.
- W1922032486 hasConcept C30772137 @default.
- W1922032486 hasConcept C36289849 @default.
- W1922032486 hasConcept C41895202 @default.
- W1922032486 hasConcept C83646750 @default.
- W1922032486 hasConcept C94625758 @default.
- W1922032486 hasConcept C95457728 @default.
- W1922032486 hasConceptScore W1922032486C10138342 @default.
- W1922032486 hasConceptScore W1922032486C138885662 @default.
- W1922032486 hasConceptScore W1922032486C143910263 @default.
- W1922032486 hasConceptScore W1922032486C144024400 @default.
- W1922032486 hasConceptScore W1922032486C162324750 @default.
- W1922032486 hasConceptScore W1922032486C166957645 @default.
- W1922032486 hasConceptScore W1922032486C175444787 @default.
- W1922032486 hasConceptScore W1922032486C17744445 @default.
- W1922032486 hasConceptScore W1922032486C196345963 @default.
- W1922032486 hasConceptScore W1922032486C199539241 @default.
- W1922032486 hasConceptScore W1922032486C27548731 @default.
- W1922032486 hasConceptScore W1922032486C2778661386 @default.
- W1922032486 hasConceptScore W1922032486C2780310539 @default.
- W1922032486 hasConceptScore W1922032486C30772137 @default.
- W1922032486 hasConceptScore W1922032486C36289849 @default.
- W1922032486 hasConceptScore W1922032486C41895202 @default.
- W1922032486 hasConceptScore W1922032486C83646750 @default.
- W1922032486 hasConceptScore W1922032486C94625758 @default.
- W1922032486 hasConceptScore W1922032486C95457728 @default.
- W1922032486 hasLocation W19220324861 @default.
- W1922032486 hasOpenAccess W1922032486 @default.
- W1922032486 hasPrimaryLocation W19220324861 @default.
- W1922032486 hasRelatedWork W1521721464 @default.
- W1922032486 hasRelatedWork W1524597174 @default.
- W1922032486 hasRelatedWork W1536059459 @default.
- W1922032486 hasRelatedWork W1591335692 @default.
- W1922032486 hasRelatedWork W1594968272 @default.
- W1922032486 hasRelatedWork W1597704564 @default.
- W1922032486 hasRelatedWork W1605252792 @default.
- W1922032486 hasRelatedWork W183107822 @default.
- W1922032486 hasRelatedWork W2145223319 @default.
- W1922032486 hasRelatedWork W2213965681 @default.
- W1922032486 hasRelatedWork W2387643288 @default.
- W1922032486 hasRelatedWork W2626882488 @default.
- W1922032486 hasRelatedWork W2767052676 @default.
- W1922032486 hasRelatedWork W2948504783 @default.
- W1922032486 hasRelatedWork W3023067467 @default.
- W1922032486 hasRelatedWork W3121187257 @default.
- W1922032486 hasRelatedWork W3122989829 @default.
- W1922032486 hasRelatedWork W3140885336 @default.
- W1922032486 hasRelatedWork W3166157328 @default.
- W1922032486 hasRelatedWork W1567809254 @default.
- W1922032486 isParatext "false" @default.
- W1922032486 isRetracted "false" @default.
- W1922032486 magId "1922032486" @default.
- W1922032486 workType "dissertation" @default.