| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4913 |
| DP4913 Dynamic Consumption and Portfolio Choice with Stochastic Volatility in Incomplete Markets | |
| Luis Viceira; George Chacko | |
| 发表日期 | 2005-02-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | We consider a search-matching model in which black workers are discriminated against and the job arrival rates of all workers depend on social networks as well as distance to jobs. Location choices are mainly driven by the racial preferences of households. There are two possible urban equilibrium and we show that, under some reasonable conditions, all workers are better off in the equilibrium where blacks are close to jobs. We then consider two policies: affirmative action and employment subsidies to the firms that hire black workers. We show that, in cities where black workers reside far away from jobs, the optimal policy is to impose higher quotas or employment subsidies than in cities where they live close to jobs. |
| 主题 | Public Economics |
| 关键词 | Spatial mismatch Racial preferences Social Networks Affirmative action Employment subsidies |
| URL | https://cepr.org/publications/dp4913 |
| 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/533815 |
| 推荐引用方式 GB/T 7714 | Luis Viceira,George Chacko. DP4913 Dynamic Consumption and Portfolio Choice with Stochastic Volatility in Incomplete Markets. 2005. |
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