کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
956970 | 928502 | 2011 | 33 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Competition, human capital and income inequality with limited commitment
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We develop a dynamic model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up and non-competitive covenants, affect the incentive to accumulate human capital. When contracts are not enforceable, high barriers lower the outside value of ‘skilled workers’ and reduce the incentive to accumulate human capital. In contrast, low barriers can result in over-accumulation of human capital. This can be socially optimal if there are positive spillovers. A calibration exercise shows that this mechanism can account for a sizable portion of cross-country income inequality.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 146, Issue 3, May 2011, Pages 976–1008
Journal: Journal of Economic Theory - Volume 146, Issue 3, May 2011, Pages 976–1008
نویسندگان
Ramon Marimon, Vincenzo Quadrini,