lecture 11 - 2010: LECTURE 11 1 LECTURE 11: Data Collection...

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Unformatted text preview: 2010: LECTURE 11 1 LECTURE 11: Data Collection Exercise INTERFERING WITH THE MARKET MECHANISM Price ceiling - financial executive pay- rent control- electricity- drop-add Price floor- agriculture- minimum wage. Mankiw: Chapter 6 2010: LECTURE 11 2 DATA COLLECTION : TESTING THEORY 2010: LECTURE 11 3 Wage ceiling for executive pay at banks which get government assistance 2010: LECTURE 11 4 2010: LECTURE 11 5 2009 financial crisis. Many banks get govt. loans. Public outrage at huge salaries paid to financial executives: We dont disparage wealth. We dont begrudge anybody for achieving success. And we believe that success should be rewarded. What gets people upset - and rightfully so - are executives being rewarded for failure, especially when those rewards are being subsidized by U.S. taxpayers (President Obama) 2010: LECTURE 11 6 Financial sector Non-financial sector Draw status-quo When ceiling imposed, shortage of financial executives....
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This note was uploaded on 10/29/2011 for the course ECON 2010 taught by Professor Mertens,wi during the Spring '07 term at Colorado.

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lecture 11 - 2010: LECTURE 11 1 LECTURE 11: Data Collection...

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