Can the Share Economy Conquer Stagflation?
分析Weitzman关于共享经济能改善失业与通胀权衡的观点,指出其关键假设(劳动持续超额需求)缺乏微观基础,结论是共享合同对宏观经济改善作用有限。
This paper analyzes Weitzman's contention that a share economy will significantly improve the unemployment-inflation tradeoff. It is shown that the argument rests on a critical proposition that share contracts lead to labor's being in perpetual excess demand. The basis of this proposition is challenged using a wide variety of models of the labor market. The paper concludes that the microeconomics of share economies differs little from that of wage economies, and that a widespread introduction of share contracts is unlikely to improve macroeconomic performance.