Food Standards and Welfare: A General Equilibrium Model with Market Imperfections

Welfare State, Market Imperfections, and International Trade

Within a two-sector-two-country model of trade with aggregate scale economies and unionisation, a move to a more generous welfare state in one country increases welfare in that country and can have positive spill-over effects on the other. Furthermore, synchronised expansions of social security are more welfare enhancing than unilateral ones. Our results counter the fears that a race to the bot...

Sunk Costs, Market Structure And Welfare: A General Equilibrium Interpretation

This paper develops a general equilibrium model with the purpose of identifying fundamental determinants of market structure and their welfare impact. The main effects are derived from the interaction between horizontal and vertical differentiation, induced by different sets of exogenous and endogenous sunk costs. The former are found to be positively correlated with market concentration and ma...

Supply Response and Market Imperfections: the Implications for Welfare Analysis

Dynamic Labor Market in a Dynamic Stochastic General Equilibrium Model: Case Study of Iranian Economy

The labor market, as one of the four markets, plays an important role in economic growth and development. So review developments in the labor market because of its close relationship with developments in other sectors is of great importance. This study tries to examine the dynamics of the labor market by adjusting for a New Keynesian dynamic stochastic general equilibrium model for the Iranian ...

Equilibrium Unemployment and Investment Under Product and Labour Market Imperfections

Equilibrium Unemployment and Investment Under Product and Labour Market Imperfections We study the implications of product market competition and investment for price setting, wage bargaining and thereby for equilibrium unemployment in an economy with product and labour market imperfections. We show that intensified product market competition will reduce equilibrium unemployment, whereas the ef...