equilibrium capital
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The Impact of Public Education Expenditure on Human Capital, Growth, and Poverty in Tanzania and Zambia: A General Equilibrium Approach
White Paper The impact of public education expenditure on human capital, the supply of different labor skills, and its macroeconomic and distributional consequences is appraised within a multisector CGE model. The model is applied... [14 Jul 2005]
An Analytical Approach to the Welfare Cost of Business Cycles and the Benefit From Activist Monetary Policy
White Paper Typical dynamic general-equilibrium (DGE) models with stochastic productivity, consumers with state-separable (expected utility) preferences, and capital accumulation imply a small welfare cost of... [28 Jun 2005]
Economic Inequality and the Emergence of Child Labor Laws
White Paper This paper constructs a dynamic heterogeneous agent general equilibrium model to quantify the effects of child labor laws on human capital accumulation and the distribution of welfare. The welfare... [24 Jun 2005]
Social Effects, Household Time Allocation, and the Decline in Union Formation
White Paper This paper theoretically develops a stylized partial equilibrium model of union formation in which social effects influence individual decisions to enter a union. However, cross-country differences in female market human... [24 Jun 2005]
Welfare Effects of Tax Policy in Open Economies: Stabilization and Cooperation
White Paper The paper investigates the possibility of welfare-improving active tax policies, in particular capital and labor income tax, under the non-cooperative Nash equilibrium and the cooperative... [22 Jun 2005]
Capital-Skill Complementarity and the Redistributive Effects of Social Security Reform
White Paper This paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill... [31 May 2005]
Human Capital and Cross-Country Comparison of Inequality
White Paper The paper explores several types of cross-country variations in the production of human capital, some attributed to 'home-education' and others related to 'public-education', and their effect upon intragenerational... [31 May 2005]
Learning to Trust Lula: Contagion and Political Risk in Brazil
White Paper In this paper, the high Brazilian country risk in 2002 and the Sudden Stop in capital flows is interpreted as reflecting "political equilibrium" in a context where, for the first time, a charismatic... [25 May 2005]
Human Capital Accumulation, Education Policy and Wage Dispersion
White Paper This paper builds a general equilibrium OLG model of labor earnings and endogenous human capital (HC) accumulation, allowing for agents' heterogeneity in both ability and uninsurable idiosyncratic... [25 May 2005]
E-Learning: A Way to Solve the Human Capital Bootstrapping Problem in Transitional Economies in Central Europe?
White Paper This paper proposes a general equilibrium model of endogenous growth in which human capital investment is the engine of growth. Within that model the potential role of e-learning is analyzed in the... [20 May 2005]
Assessing the Productivity of Public Capital with a Locational Equilibrium Model
White Paper Perhaps the most visible type of public good is government capital, which includes such items as infrastructure--roads, bridges, sewers, and so on--as well as other government buildings and equipment. [25 Feb 2004]
The Society Security Trust Fund, the Riskless Interest Rate and Capital Accumulation
White Paper This paper develops a traceable stochastic overlapping generations model to analyze the equilibrium equity premium and growth rate of the capital stock in the presence of a defined benefit Social... [25 Feb 2004]
Unemployment, Capital-Labor Substitution, and Economic Growth
White Paper This paper discusses the influence of economic growth on the equilibrium unemployment rate (NAIRU). It examines how income distribution and the NAIRU are influenced by capital formation, technical... [25 Feb 2004]
Public Trust and Government Betrayal
White Paper In these good equilibria, households trust the government and the government does not betray this trust because a deviation by the government causes a reversion to a worse equilibrium. That is, it is seldom in the... [25 Feb 2004]
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