Informational Aspects of Market Structure: An Introduction
Types of signaling mechanisms, 593.—Contingent contracts, 593.—Exogenously costly signals, 595.—Conclusions, 597.
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Competition in Salaries, Credentials, and Signaling Prerequisites for Jobs
I. Introduction, 51. — II. The choice of behavioral hypothesis, 53. — III. Assumptions, 54. — IV. Analysis of equilibria, 55. — V. Comparison with the passive-response equilibria, 63. — VI. Specialized firms, 63. — VII. Equilibria with complementary factors, 66. — VIII. Concluding remarks, 72. — Appendix A: Summary of the passive-response model, 73. — Appendix B: The elimination of dominated, passive equilibria, 73.
Job Market Signaling
1. Introduction, 355. — 2. Hiring as investment under uncertainty, 356. — 3. Applicant signaling, 358. — 4. Informational feedback and the definition of equilibrium, 359. — 5. Properties of informational equilibria: an example, 361. — 6. The informational impact of indices, 368. — Conclusions, 374.
Cost Reduction, Competition, and Industry Performance
Signaling in Retrospect and the Informational Structure of Markets
Product Differentiation and Welfare
Television Programming, Monopolistic Competition, and Welfare
Introduction, 103.—Sources of bias in program selection, 106.—Numbers of programs and audience sizes in equilibrium, 114.—Summary of results and policy, 122.
Learning Curve Spillovers and Market Performance
Demand and Defective Growth Patterns: The Role of The Tradable and Non-Tradable Sectors in an Open Economy
This paper examines the underlying structural elements of US growth patterns, pre- and post-crisis. Prior to the recession, the US economy exhibited a defective growth pattern driven by outsized domestic demand. As domestic aggregate demand retreats to more sustainable levels relative to total income, the tradable side of the economy is a catalyst for restoring strong growth. A structural rebalancing is already underway; although it is only a third of the economy, the tradable sector generated more than half of gross gains in value-added since the start of the recovery. However, distributional issues loom on the horizon.