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Dissipation of productivity gains through socioeconomic competition - POSTPONED TO MARCH 3

Comparing inflationary consequences of wage hikes and income grants
SPS Behave Seminar
14 January 2020, h. 12.30POSTPONED TO MARCH 3

Speaker: Dimitry Rtischev (Gakushuin University)
Discussant: Gabriele Ballarino (Università degli Studi di Milano)
Chair: Flaminio Squazzoni (Università degli Studi di Milano)

SPS Seminar Room (Room 215, II floor, via Passione side)
Department of Social and Political Sciences
Via Conservatorio 7, Milan

Abstract
After centuries of growth in productivity and wages, why is the median household still working long hours to afford housing, education, and other goods? Do rising incomes cause inflation which keeps some goods forever expensive?  I pursue these questions using an analytical model in which working time, wages and prices adjust endogenously and in which working consumers compete for socially-scarce goods. In particular, I model and simulate an increasingly productive society of heterogeneous agents who form "clubs" (e.g., neighborhoods, schools, workplaces) and spend part of their income bidding to join the "better" ones. I examine the extent to which productivity gains, paid out either through higher wages or income grants, get absorbed into club prices. 

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23 dicembre 2019
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