Factor-Market Distortions and Dynamic Optimal Intervention: Reply
| dc.contributor.author | Lapan, Harvey | |
| dc.contributor.department | Department of Economics (LAS) | |
| dc.date | 2018-02-17T22:16:13.000 | |
| dc.date.accessioned | 2020-06-30T02:05:00Z | |
| dc.date.available | 2020-06-30T02:05:00Z | |
| dc.date.copyright | Mon Jan 01 00:00:00 UTC 1979 | |
| dc.date.issued | 1979-09-01 | |
| dc.description.abstract | <p>Edward Ray, in his comment on my 1976 paper, analyzes a slightly different model than the one I presented, and thus reaches different conclusions. His principal conclusions are that: (i) given wage rigidities, a wage subsidy to producers is needed, and this subsidy is equivalent to the optimal static subsidy that ensures full employment in each sector; and (ii) given the forced equilization of wages across sectors, a subsidy to workers is needed to encourage labor transfers between sectors. Thus, Ray finds that full employment is always desirable, whereas I find that some unemployment is (usually) present along the optimum path.</p> | |
| dc.description.comments | <p>This is a response of an article from <em>The American Economic Review </em>69 (1979): 718. Posted with permission.</p> | |
| dc.format.mimetype | application/pdf | |
| dc.identifier | archive/lib.dr.iastate.edu/econ_las_pubs/154/ | |
| dc.identifier.articleid | 1150 | |
| dc.identifier.contextkey | 9118461 | |
| dc.identifier.s3bucket | isulib-bepress-aws-west | |
| dc.identifier.submissionpath | econ_las_pubs/154 | |
| dc.identifier.uri | https://dr.lib.iastate.edu/handle/20.500.12876/21338 | |
| dc.language.iso | en | |
| dc.source.bitstream | archive/lib.dr.iastate.edu/econ_las_pubs/154/0-American_Economic_Review_permission.pdf|||Fri Jan 14 20:40:26 UTC 2022 | |
| dc.source.bitstream | archive/lib.dr.iastate.edu/econ_las_pubs/154/1979_Lapan_FactorMarket.pdf|||Fri Jan 14 20:40:27 UTC 2022 | |
| dc.subject.disciplines | Economic Theory | |
| dc.subject.disciplines | Income Distribution | |
| dc.subject.disciplines | Other Economics | |
| dc.title | Factor-Market Distortions and Dynamic Optimal Intervention: Reply | |
| dc.type | article | |
| dc.type.genre | response | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | e64c5053-8f4a-483e-8454-77ceff5f3792 | |
| relation.isOrgUnitOfPublication | 4c5aa914-a84a-4951-ab5f-3f60f4b65b3d |