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Proceedings of the German Development Economics Conference, 2011 (Berlin) >
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http://hdl.handle.net/10419/48350
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Gall, Thomas | | en_US |
| dc.contributor.author | | Masella, Paolo | | en_US |
| dc.date.accessioned | | 2011-07-15T14:21:48Z | | - |
| dc.date.available | | 2011-07-15T14:21:48Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/48350 | | - |
| dc.description.abstract | | Economic institutions determine prospects for growth and development. This paper examines necessary conditions for an economy to support institutions that implement markets. Agents differ in land holdings, skill, and power. A competitive market assigns land to the skilled, not necessarily to the powerful. Therefore a market allocation needs to be robust to coalitional expropriation. In a dynamic setting, market payoffs may induce sufficient inequality in next period's endowments for markets to alternate with expropriation in a limit cycle, decreasing efficiency and amplifying macroeconomic fluctuations. Long run stability of markets is favored by higher social mobility, more initial equality, and less mismatch between demand and supply. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft Kiel und Hamburg | | en_US |
| dc.relation.ispartofseries | | Proceedings of the German Development Economics Conference, Berlin 2011 30 | | en_US |
| dc.subject.jel | | E02 | | en_US |
| dc.subject.jel | | O43 | | en_US |
| dc.subject.jel | | C71 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Expropriation | | en_US |
| dc.subject.keyword | | market institutions | | en_US |
| dc.subject.keyword | | inequality | | en_US |
| dc.subject.keyword | | fluctuations | | en_US |
| dc.subject.keyword | | coalition formation | | en_US |
| dc.title | | Markets and Jungles | | en_US |
| dc.type | | Conference Paper | | en_US |
| dc.identifier.ppn | | 66532698X | | - |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Proceedings of the German Development Economics Conference, 2011 (Berlin)
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| 30_gall.pdf | | 252.44 kB | Adobe PDF |
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