Aggregate Returns to Individual Decisions : Development, Income Inequality and Competition for Jobs and Workers
by
Uwe Sunde
Book Details
Format
Paperback / Softback
ISBN-10
3631517262
ISBN-13
9783631517260
Publisher
Peter Lang AG
Imprint
Peter Lang AG
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Oct 22nd, 2003
Print length
251 Pages
Weight
324 grams
Dimensions
15.00 x 20.90 x 1.50 cms
Product Classification:
Labour economicsEconomic growthBehavioural economicsInternational trade
Ksh 9,250.00
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In general, economic decisions are made in order to maximize individual well-being or, equivalently, to maximize the returns of these decisions to the individual. However, while taking their environment as given, the decision-makers often do not explicitly take into account what consequences their decisions have on the aggregate level. Many macroeconomic phenomena can be seen as unintended or unforeseen consequences, ‘returns’, to the decisions of rational individuals. This book presents several models in this spirit. The first part investigates the role of individual education decisions for long-term development and international differences in earnings inequality. The second part focuses on the consequences of individual search decisions on the labor market for the observed patterns of job creation.
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