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Aggregate Returns to Individual Decisions

Name: Aggregate Returns to Individual Decisions
Brand: Peter Lang AG
SKU: 10018726
Price: 99.19 EUR
Availability: InStock
Author: Uwe Sunde
ISBN: 9783631517260

Development, Income Inequality and Competition for Jobs and Workers

Uwe Sunde

Language

English

Book Paperback

Libristo code: 10018726

Publishers Peter Lang AG, October 2003

In general, economic decisions are made in order to maximize individual well-being or, equivalently,... Full description

Libristo code: 10018726

243 b

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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.