Distributing scarce jobs and output: Experimental evidence on the effects of rationing
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Jean-Pascal Benassy, 1975.
"Neo-Keynesian Disequilibrium Theory in a Monetary Economy,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(4), pages 503-523.
- Benassy Jean-pascal, 1974. "Neokeynesian disequilibrium theory in a monetary economy," CEPREMAP Working Papers (Couverture Orange) 7402, CEPREMAP.
- Bao, Te & Duffy, John & Hommes, Cars, 2013.
"Learning, forecasting and optimizing: An experimental study,"
European Economic Review, Elsevier, vol. 61(C), pages 186-204.
- Bao, T. & Duffy, J. & Hommes, C.H., 2011. "Learning, Forecasting and Optimizing: an Experimental Study," CeNDEF Working Papers 11-08, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
- Te Bao & John Duffy & Cars Hommes, 2012. "Learning, Forecasting and Optimizing: An Experimental Study," Tinbergen Institute Discussion Papers 12-015/1, Tinbergen Institute.
- Pascal Michaillat, 2012.
"Do Matching Frictions Explain Unemployment? Not in Bad Times,"
American Economic Review, American Economic Association, vol. 102(4), pages 1721-1750, June.
- Pascal Michaillat, 2010. "Do Matching Frictions Explain Unemployment? Not in Bad Times," CEP Discussion Papers dp1024, Centre for Economic Performance, LSE.
- Akerlof, George A, 1984. "Gift Exchange and Efficiency-Wage Theory: Four Views," American Economic Review, American Economic Association, vol. 74(2), pages 79-83, May.
- Lefebvre, Marianne, 2013.
"Can Rationing Rules for Common Resources Impact Self-insurance Decisions?,"
Strategic Behavior and the Environment, now publishers, vol. 3(3), pages 185-222, March.
- Marianne Lefebvre, 2013. "Can Rationing Rules for Common Resources Impact Self-insurance Decisions?," Post-Print hal-01416163, HAL.
- Pascal Michaillat & Emmanuel Saez, 2015.
"Aggregate Demand, Idle Time, and Unemployment,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(2), pages 507-569.
- Pascal Michaillat & Emmanuel Saez, 2013. "Aggregate Demand, Idle Time, and Unemployment," NBER Working Papers 18826, National Bureau of Economic Research, Inc.
- Michaillat, Pascal & Saez, Emmanuel, 2015. "Aggregate demand, idle time, and unemployment," LSE Research Online Documents on Economics 61832, London School of Economics and Political Science, LSE Library.
- Michaillat, Pascal & Saez, Emmanuel, 2014. "Aggregate demand, idle time, and unemployment," LSE Research Online Documents on Economics 86338, London School of Economics and Political Science, LSE Library.
- Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Upjohn Working Papers 14-214, W.E. Upjohn Institute for Employment Research.
- Pascal Michaillat & Emmanuel Saez, 2014. "Aggregate Demand, Idle Time, and Unemployment," Discussion Papers 1419, Centre for Macroeconomics (CFM).
- Stiglitz, Joseph E, 1976. "The Efficiency Wage Hypothesis, Surplus Labour, and the Distribution of Income in L.D.C.s," Oxford Economic Papers, Oxford University Press, vol. 28(2), pages 185-207, July.
- Bosch-Domenech, Antoni & Silvestre, Joaquim, 1997.
"Credit Constraints in General Equilibrium: Experimental Results,"
Economic Journal, Royal Economic Society, vol. 107(444), pages 1445-1464, September.
- Bosch-Domenech, A. & Silvestre, J., 1995. "Credit Constraint in General Equilibrium: Experimental Results," Papers 95-07, California Davis - Institute of Governmental Affairs.
- Bosch-Domenech, A. & Silvestre, J., 1995. "Credit Constraint in General Equilibrium: Experimental Results," Department of Economics 95-07, California Davis - Department of Economics.
- Antoni Bosch-Domènech & Joaquim Silvestre, 1996. "Credit constraints in general equilibrium: Experimental results," Economics Working Papers 105, Department of Economics and Business, Universitat Pompeu Fabra.
- Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
- Huber, Juergen & Shubik, Martin & Sunder, Shyam, 2018.
"Financing of public goods through taxation in a general equilibrium economy: Experimental evidence,"
Journal of Economic Behavior & Organization, Elsevier, vol. 148(C), pages 171-188.
- Juergen Huber & Martin Shubik & Shyam Sunder, 2011. "Financing of Public Goods through Taxation in a General Equilibrium Economy: Experimental Evidence," Cowles Foundation Discussion Papers 1830R3, Cowles Foundation for Research in Economics, Yale University, revised Jun 2017.
- Juergen Huber & Martin Shubik & Shyam Sunder, 2011. "Financing of Public Goods through Taxation in a General Equilibrium Economy: Experimental Evidence," Cowles Foundation Discussion Papers 1830R, Cowles Foundation for Research in Economics, Yale University, revised Apr 2013.
- Guidon Fenig & Mariya Mileva & Luba Petersen, 2013. "Asset Trading and Monetary Policy in Production Economies," Discussion Papers dp13-08, Department of Economics, Simon Fraser University, revised Aug 2014.
- Neil J. Buckley & Katherine Cuff & Jeremiah Hurley & Logan McLeod & Robert Nuscheler & David Cameron, 2012.
"Willingness‐to‐pay for parallel private health insurance: evidence from a laboratory experiment,"
Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(1), pages 137-166, February.
- Neil J. Buckley & Katherine Cuff & Jeremiah Hurley & Logan McLeod & Robert Nuscheler & David Cameron, 2012. "Willingness-to-pay for parallel private health insurance: evidence from a laboratory experiment," Canadian Journal of Economics, Canadian Economics Association, vol. 45(1), pages 137-166, February.
- Neil Buckley & Katherine Cuff & Jeremiah Hurley & Logan McLeod & Robert Nuscheler & David Cameron, 2010. "Willingness-to-Pay for Parallel Private Health Insurance: Evidence from Laboratory Experiment," Centre for Health Economics and Policy Analysis Working Paper Series 2010-02, Centre for Health Economics and Policy Analysis (CHEPA), McMaster University, Hamilton, Canada.
- Judd B. Kessler & Alvin E. Roth, 2012.
"Organ Allocation Policy and the Decision to Donate,"
American Economic Review, American Economic Association, vol. 102(5), pages 2018-2047, August.
- Judd B. Kessler & Alvin E. Roth, 2011. "Organ Allocation Policy and the Decision to Donate," NBER Working Papers 17324, National Bureau of Economic Research, Inc.
- Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-444, June.
- Ravn, Morten O. & Sterk, Vincent, 2017.
"Job uncertainty and deep recessions,"
Journal of Monetary Economics, Elsevier, vol. 90(C), pages 125-141.
- Morten O. Ravn & Vincent Sterk, 2012. "Job Uncertainty and Deep Recessions," Discussion Papers 1501, Centre for Macroeconomics (CFM), revised Dec 2014.
- Ravn, Morten O. & Sterk, Vincent, 2015. "Job uncertainty and deep recessions," LSE Research Online Documents on Economics 86324, London School of Economics and Political Science, LSE Library.
- Vincent Sterk & Morten Ravn, 2013. "Job Uncertainty and Deep Recessions," 2013 Meeting Papers 921, Society for Economic Dynamics.
- Lars E. O. Svensson, 1980. "Effective Demand and Stochastic Rationing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(2), pages 339-355.
- Charles N. Noussair & Damjan Pfajfar & Janos Zsiros, 2014. "Persistence of Shocks in an Experimental Dynamic Stochastic General Equilibrium Economy," Research in Experimental Economics, in: Experiments in Macroeconomics, volume 17, pages 71-108, Emerald Group Publishing Limited.
- John Duffy, 2014. "Macroeconomics in the Laboratory," Research in Experimental Economics, in: Experiments in Macroeconomics, volume 17, pages 1-10, Emerald Group Publishing Limited.
- Douglas Gale, 1979. "Large Economies with Trading Uncertainty," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 46(2), pages 319-338.
- Peng Lian & Charles R. Plott, 1998.
"General equilibrium, markets, macroeconomics and money in a laboratory experimental environment,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(1), pages 21-75.
- Peng Lian & Charles R. Plott, 1998. "General equilibrium, markets, macroeconomics and money in a laboratory experimental environment," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(1), pages 123-146.
- Drazen, Allan, 1980. "Recent Developments in Macroeconomic Disequilibrium Theory," Econometrica, Econometric Society, vol. 48(2), pages 283-306, March.
- John Duffy, 2008. "Macroeconomics: A Survey of Laboratory Research," Working Paper 334, Department of Economics, University of Pittsburgh, revised Jun 2014.
- Vivian Lei & Charles N. Noussair, 2007. "Equilibrium Selection in an Experimental Macroeconomy," Southern Economic Journal, John Wiley & Sons, vol. 74(2), pages 448-482, October.
- Luba Petersen, 2015. "Do expectations and decisions respond to monetary policy?," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 42(6), pages 972-1004, November.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Guidon Fenig & Luba Petersen, 2017. "Distributing scarce jobs and output: experimental evidence on the dynamic effects of rationing," Experimental Economics, Springer;Economic Science Association, vol. 20(3), pages 707-735, September.
- Fenig, Guidon & Mileva, Mariya & Petersen, Luba, 2018.
"Deflating asset price bubbles with leverage constraints and monetary policy,"
Journal of Economic Behavior & Organization, Elsevier, vol. 155(C), pages 1-27.
- Guidon Fenig & Mariya Mileva & Luba Petersen, 2013. "Deflating asset price bubbles with leverage constraints and monetary policy," Discussion Papers dp17-02, Department of Economics, Simon Fraser University, revised Jan 2017.
- Ogawa, Shogo, 2022. "Survey of non-Walrasian disequilibrium economic theory," MPRA Paper 115011, University Library of Munich, Germany.
- Colombo, Luca & Weinrich, Gerd, 2003.
"The Phillips curve as a long-run phenomenon in a macroeconomic model with complex dynamics,"
Journal of Economic Dynamics and Control, Elsevier, vol. 28(1), pages 1-26, October.
- Luca Colombo and Gerd Weinrich, 2001. "The Phillips Curve as a Long-Run Phenomenon in a Macroeconomic Model with Complex Dynamics," Computing in Economics and Finance 2001 13, Society for Computational Economics.
- Gerd Weinrich & Luca Colombo, 2001. "The Phillips Curve as a Long-Run Phenomenon in a Macroeconomic Model with Complex Dynamics," CeNDEF Workshop Papers, January 2001 1B.3, Universiteit van Amsterdam, Center for Nonlinear Dynamics in Economics and Finance.
- Camille Cornand & Frank Heinemann, 2018.
"Experiments on macroeconomics: methods and applications,"
Working Papers
1810, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
- Camille Cornand & Frank Heinemann, 2019. "Experiments in macroeconomics: methods and applications," Post-Print halshs-01809937, HAL.
- Camille Cornand & Frank Heinemann, 2019. "Experiments on macroeconomics: methods and applications," Post-Print halshs-01902045, HAL.
- Mauersberger, Felix, 2021. "Monetary policy rules in a non-rational world: A macroeconomic experiment," Journal of Economic Theory, Elsevier, vol. 197(C).
- Gerd Weinrich & Luca Colombo, 2005. "Money, Inventories and Underemployment in Deflationary Recessions," Computing in Economics and Finance 2005 156, Society for Computational Economics.
- Ogawa, Shogo, 2021. "One Suggestion for Microfoundation of Non-Walrasian Disequilibrium Macroeconomics: Matching Theory with Dual Decision," MPRA Paper 106636, University Library of Munich, Germany.
- Driscoll, John C. & Holden, Steinar, 2014.
"Behavioral economics and macroeconomic models,"
Journal of Macroeconomics, Elsevier, vol. 41(C), pages 133-147.
- John C. Driscoll & Steinar Holden, 2014. "Behavioral Economics and Macroeconomic Models," Finance and Economics Discussion Series 2014-43, Board of Governors of the Federal Reserve System (U.S.).
- John C. Driscoll & Steinar Holden, 2014. "Behavioral Economics and Macroeconomic Models," CESifo Working Paper Series 4785, CESifo.
- Luca Colombo & Gerd Weinrich, 2006. "The Role of Expectations in a Macroeconomic Model with Inventories," Computing in Economics and Finance 2006 65, Society for Computational Economics.
- Camille Cornand & Frank Heinemann, 2018. "Experiments on macroeconomics: methods and applications," Working Papers halshs-01809937, HAL.
- Koenig, Felix & Manning, Alan & Petrongolo, Barbara, 2014.
"Reservation wages and the wage flexibility puzzle,"
LSE Research Online Documents on Economics
60613, London School of Economics and Political Science, LSE Library.
- Felix Koenig & Alan Manning & Barbara Petrongolo, 2016. "Reservation Wages and the Wage Flexibility Puzzle," Working Papers 787, Queen Mary University of London, School of Economics and Finance.
- Koenig, Felix & Manning, Alan & Petrongolo, Barbara, 2016. "Reservation Wages and the Wage Flexibility Puzzle," IZA Discussion Papers 9717, Institute of Labor Economics (IZA).
- Felix Koenig & Alan Manning & Barbara Petrongolo, 2016. "Reservation wages and the wage flexibility puzzle," CEP Discussion Papers dp1406, Centre for Economic Performance, LSE.
- Koenig, Felix & Manning, Alan & Petrongolo, Barbara, 2016. "Reservation wages and the wage flexibility puzzle," CEPR Discussion Papers 11109, C.E.P.R. Discussion Papers.
- Koenig, Felix & Manning, Alan & Petrongolo, Barbara, 2016. "Reservation wages and the wage flexibility puzzle," LSE Research Online Documents on Economics 66417, London School of Economics and Political Science, LSE Library.
- Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2020.
"Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach,"
American Economic Journal: Economic Policy, American Economic Association, vol. 12(1), pages 254-292, February.
- Kory Kroft & Kucko Kavan & Etienne Lehmann & Johannes Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," Working Papers hal-01292126, HAL.
- Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Friedrich Schmieder, 2017. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," CESifo Working Paper Series 6686, CESifo.
- Kory Kroft & Kavan J. Kucko & Etienne Lehmann & Johannes F. Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," NBER Working Papers 21757, National Bureau of Economic Research, Inc.
- Kory Kroft & Kavan Kucko & Etienne Lehmann & Johannes Schmieder, 2015. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," TEPP Working Paper 2015-10, TEPP.
- Kroft, Kory & Kucko, Kavan & Lehmann, Etienne & Schmieder, Johannes F., 2016. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," IZA Discussion Papers 9719, Institute of Labor Economics (IZA).
- Lehmann, Etienne & Kucko, Kavan & Schmieder, Johannes, 2017. "Optimal Income Taxation with Unemployment and Wage Responses: A Sufficient Statistics Approach," CEPR Discussion Papers 12328, C.E.P.R. Discussion Papers.
- Ricciuti, Roberto, 2008.
"Bringing macroeconomics into the lab,"
Journal of Macroeconomics, Elsevier, vol. 30(1), pages 216-237, March.
- Roberto Ricciuti, 2003. "Bringing Macroeconomics into the Lab," Royal Holloway, University of London: Discussion Papers in Economics 03/9, Department of Economics, Royal Holloway University of London, revised Dec 2003.
- Roberto Ricciuti, 2005. "Bringing Macroeconomics into the Lab," Labsi Experimental Economics Laboratory University of Siena 004, University of Siena.
- Roberto Ricciuti, 2004. "Bringing Macroeconomics into the Lab," ICER Working Papers 26-2004, ICER - International Centre for Economic Research.
- Guy Laroque, 1991. "Inventories and the Fixprice Method," International Economic Association Series, in: Lionel W. McKenzie & Stefano Zamagni (ed.), Value and Capital: Fifty Years Later, chapter 8, pages 205-231, Palgrave Macmillan.
- Bruce C. Greenwald & Joseph E. Stiglitz, 1990.
"Macroeconomic Models with Equity and Credit Rationing,"
NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 15-42,
National Bureau of Economic Research, Inc.
- Bruce C. Greenwald & Joseph E. Stiglitz & Andrew Weiss, 1989. "Macroeconomic models with equity and credit rationing," Proceedings, Federal Reserve Bank of San Francisco.
- Bruce C. Greenwald & Joseph E. Stiglitz, 1990. "Macroeconomic Models with Equity and Credit Rationing," NBER Working Papers 3533, National Bureau of Economic Research, Inc.
- Guidon Fenig & Mariya Mileva & Luba Petersen, 2013. "Leave the bubble alone!: Deflating asset price bubbles in an experimental macroeconomy," Discussion Papers dp16-10, Department of Economics, Simon Fraser University, revised Aug 2016.
- Arzu Yavuz, 2011. "Productivity and Wage Differentials between Private and Public Sector in the Developing Countries (Gelismekte Olan �lkelerde �zel ve Kamu Sekt�r�ndeki Verimlilik ve �cret Farklilasmasi)," Working Papers 1103, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- Camille Cornand & Frank Heinemann, 2014. "Experiments on Monetary Policy and Central Banking," Research in Experimental Economics, in: Experiments in Macroeconomics, volume 17, pages 167-227, Emerald Group Publishing Limited.
- Bhattacharyya, Chandril & Gupta, Manash Ranjan, 2020.
"Union, Efficiency of Labour and Endogenous Growth,"
Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 61(2), pages 170-202, December.
- Bhattacharyya, Chandril & Gupta, Manash Ranjan, 2015. "Union, efficiency of labour and endogenous growth," MPRA Paper 64911, University Library of Munich, Germany.
More about this item
Keywords
rationing; allocation rules; unemployment; experimental macroeconomics; laboratory experiment; general equilibrium;All these keywords.
JEL classification:
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- H4 - Public Economics - - Publicly Provided Goods
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
NEP fields
This paper has been announced in the following NEP Reports:- NEP-EXP-2015-03-22 (Experimental Economics)
- NEP-MAC-2015-03-22 (Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sfu:sfudps:dp15-02. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Working Paper Coordinator (email available below). General contact details of provider: https://edirc.repec.org/data/desfuca.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.