Policy, Institutions and Misallocation

• The thesis contains three models. Chapter 1 illustrates financial market incompleteness causes misallocations and fluences international trade pattern. Countries with more complete markets tend to specialize in risky sectors. Chapter 2 sets up a cross-generation utility function. Results show fertility constraints harm social mobility and create misallocations through multiple channels. Chapter 3 shows financial segmentation in China is the cause of housing bubbles and creates misallocations. Bubbles improve allocations by crowding out inefficient investments. 

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Nyckelord

Misallocations

Bubbles

Financial Frictions

Fertility Constraints

Economics

nationalekonomi

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