In this paper, we derive a discrete choice model of the demand for medical care from a theoretical model that implies a natural interrelation between price and income. We show that, in the context of a discrete choice model, if health is a normal good, then the price elasticity of the demand for...

In this paper, we derive a discrete choice model of the demand for medical care from a theoretical model that implies a natural interrelation between price and income. We show that, in the context of a discrete choice model, if health is a normal good, then the price elasticity of the demand for...

We investigate the effect of speaking Spanish at home as a child on completed schooling and aptitude test scores using data on Hispanics who grew up in the U.S. from the NLSY79. We model the accumulation of traditional human capital and English fluency, leading to the joint determination of...

Trends in gross domestic product (GDP) and total factor productivity (TFP) growth in the former socialist economies seem to indicate that these economies were converging to unusually low long-run growth rates in the late 1980s. In this paper we develop an endogenous growth model of...

We investigate the eect of speaking Spanish at home as a child on completed schooling and aptitude test scores using data on Hispanics who grew up in the U.S. from the NLSY79. We model the accumulation of traditional human capital and English uency, leading to the joint determination of...

A simple model of the distribution of wealth is presented. In such a model the distribution of wealth follows a Pareto type II distribution whose parameters depend on the growth rates discussed in the book. Compared to previous studies of the asymptotic distribution of wealth in economies...