Aggregate Returns to Individual Decisions : Development, Income Inequality and Competition for Jobs and Workers

by Uwe Sunde

Book Details

Format Paperback / Softback

Book Series Europaische Hochschulschriften Reihe 5: Volks- und Betriebswirtschaft

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

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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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