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Jaime Orrillo

Publications and source records attributed to Jaime Orrillo.

2 recordsLinked to original sources

Future-blindness and the product topology

We study future-blind preferences, which are preferences that heavily discount the future, within the space of infinite consumption streams. We give two definitions: $N$-blindness, where agents ignore periods beyond a fixed date $N$, and eventual blindness, where all but finitely many dates are neglected. Using a topological approach, we show that the finest topology ensuring eventual blindness coincides with the product topology. This provides a behavioral foundation for continuity in the product topology, which was considered for studying equilibrium existence in infinite-dimensional spaces. Finally, we characterize the dual spaces under these topologies.

econ.TH

The Home Office in Times of COVID-19 Pandemic and its impact in the Labor Supply

We lightly modify Eriksson's (1996) model to accommodate the home office in a simple model of endogenous growth. By home office we mean any working activity carried out away from the workplace which is assumed to be fixed. Due to the strong mobility restrictions imposed on citizens during the COVID-19 pandemic, we allow the home office to be located at home. At the home office, however, in consequence of the fear and anxiety workers feel because of COVID-19, they become distracted and spend less time working. We show that in the long run, the intertemporal elasticity of substitution of the home-office labor is sufficiently small only if the intertemporal elasticity of substitution of the time spent on distracting activities is small enough also.

econ.GN