相关论文: Minimum Wage, Labor Equilibrium, and the Productiv…

This contribution examines the current controversy over research productivity. There are two sides in this controversy. Using extensive data from several industries and areas of research, one side argues that research productivity is…

We analyze how firms should design wage contracts when workers collaborate in teams and effort costs depend on colleagues through a peer network. Performance-based compensation generates incentives that cascade through the organization,…

We develop a method to estimate producers' productivity beliefs when output quantities and input prices are unobservable, and we use it to evaluate the market for science. Our model of researchers' labor supply shows how their willingness…

This paper analyzes the impact of the National Minimum Wage from 2001 to 2021. The MNW increased from 505.7/month (2001) to 1,108.3/month (2021). Using the data provided by the Spanish Tax Administration Agency, databases that represent the…

Data for many nations show a long-run increase, over many decades, of income, indexed by GDP per capita, and population health, indexed by mortality or life expectancy at birth (LEB). However, the short-run and long-run relationships…

We develop a continuous-time general equilibrium framework for economies with a heterogeneous population -- modeled as a continuum -- that repeatedly optimizes over short horizons under relative-income (Duesenberry-type) criteria. The…

Reducing wealth inequality and increasing utility are critical issues. This study reveals the effects of redistribution and consumption morals on wealth inequality and utility. To this end, we present a novel approach that couples the…

The personal income distribution (PID) above the Pareto threshold is studied and modeled. A microeconomic model is proposed to simulate the PID and its evolution below and above the Pareto income threshold. The model balances processes of…

The Gini index is a number that attempts to measure how equitably a resource is distributed throughout a population, and is commonly used in economics as a measurement of inequality of wealth or income. The Gini index is often defined as…

Gross domestic product (GDP) is an important economic indicator that aggregates useful information to assist economic agents and policymakers in their decision-making process. In this context, GDP forecasting becomes a powerful decision…

As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…

Visual representations are defined in terms of minimal sufficient statistics of visual data, for a class of tasks, that are also invariant to nuisance variability. Minimal sufficiency guarantees that we can store a representation in lieu of…

Generative Artificial Intelligence constitutes a new wave of automation. There is broad agreement among economists that humanity is potentially entering into a period of profound change. However, significant uncertainties and disagreements…

A financial market is a system resulting from the complex interaction between participants in a closed economy. We propose a minimal microscopic model of the financial market economy based on the real economy's symmetry constraint and…

It is still common wisdom amongst economists, politicians and lay people that economic growth is a necessity of our social systems, at least to avoid distributional conflicts. This paper challenges such belief moving from a purely physical…

A robust thermodynamic relation between inflation corrected monetary valuation and energy emerges from existing work. This is based on the energy used, the aggregate efficiency of all production processes ($\Lambda(t)$) in terms of Joules…

This paper provides a new theory of the observed co-movement between overall wage inequality and its between-firm component. We develop and solve analytically a frictionless sorting model with two-sided heterogeneity, in which firms consist…

This study analyses, through cross-section estimation methods, the influence of spatial effects and human capital in the conditional productivity convergence (product per worker) in the economic sectors of NUTs III of mainland Portugal…

This paper develops a new model of business cycles. The model is economical in that it is solved with an aggregate demand-aggregate supply diagram, and the effects of shocks and policies are obtained by comparative statics. The model builds…

This paper examines the spatial agglomeration of workers and income in a continuous space-time framework. Local markets feature spatial spillovers and both exogenous and endogenous amenities. Workers relocate to maximise their instantaneous…