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Distortions, Endogenous Managerial Skills and Productivity Differences
distortions size skill investments productivity differences
2012/10/23
We develop a span-of-control model where managerial skills are endogenous and the outcome of investments over the life cycle of managers. We calibrate this model to U.S plant-size data to quantify the...
Mandated Severance Pay and Firing Cost Distortions: A Critical Review of the Evidence
severance pay firing costs hiring costs separation rate employment
2012/10/26
Severance pay mandates are an appealing job displacement insurance strategy in developing countries, which have only modest government administrative capacities, but they carry the threat of adverse i...
Market Distortions and Local Indeterminacy: A General Approach
indeterminacy endogenous fluctuations market imperfections externalities imperfect competition taxation
2012/10/31
We provide a methodology to study the role of market distortions on the emergence of indeterminacy and bifurcations. Most of the specific market imperfections considered in the related literature are ...
It is widely observed that the income gap between regions in China
has widened with economic reform. More careful examination of
income disparity shows that it first narrowed and then widened
drast...