| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2070 |
| DP2070 Golden Cages for Showy Birds: Optimal Switching Costs in Labour Markets | |
| Carmen Matutes; Ramon Caminal; Roberto Burguet | |
| 发表日期 | 1999-02-28 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | The 'core-periphery model' is vitiated by its assumption of static expectations. That is, migration (inter-regional or intersectoral) is the key to agglomeration, but migrants base their decision on current wage differences alone--even though migration predictably alters wages and workers are (implicitly) infinitely lived. The assumption was necessary for tractability. The model has multiple stable equilibria, so forward-looking behaviour requires characterisation of global stability in a non-linear dynamic system (a potentially intractable problem). This paper's main contribution is to present a set of solution techniques-partly analytic and partly numerical-that allows consideration of forward-looking expectations. Surprisingly, we find that if migration costs are sufficiently high, allowing forward-looking behaviour changes nothing, so static expectations are truly an assumption of convenience. If migration costs are lower, history-vs-expectations considerations emerge. Agglomeration, therefore, can be a self-fulfilling prophecy. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Economic geography Forward looking expectaions |
| URL | https://cepr.org/publications/dp2070 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531190 |
| 推荐引用方式 GB/T 7714 | Carmen Matutes,Ramon Caminal,Roberto Burguet. DP2070 Golden Cages for Showy Birds: Optimal Switching Costs in Labour Markets. 1999. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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