This paper solves an empirically parameterised model of life-cycle consumption which extends the precautionary savings models of Carroll (1997), and Deaton (1991), to allow for uncollaterized borrowing and default. In case households choose to default: (i) their access to credit markets is...

We consider an exchange economy with time-inconsistent consumers whose preferences are additively separable. When these consumers trade in a sequence of markets, their time-inconsistency may introduce a non-convexity that gives them an incentive to trade lotteries. If there are many consumers,...

This paper tests if gender-discrimination in grading affects pupils' achievements and course choices. I use a unique dataset containing grades given by teachers, scores obtained anonymously by pupils at different ages, and their course choice during high school. Based on double-differences, the...

Women working part-time in the UK have hourly earnings that are on average 26 percent less than women working fulltime. Alan Manning and Barbara Petrongolo investigate what's behind this part-time pay penalty.

In 2003, women working part-time in the UK earned, on average, 22% less than women working full-time. Compared to women who work FT, PT women are more likely to have low levels of education, to be in a couple, to have young and numerous children, to work in small establishments in distribution,...

We discuss the contribution of the experimental literature to the understanding of both traditional and previously unexplored dimensions of gender differences and discuss their bearings on labor market outcomes. Experiments have offered new findings on gender discrimination, and while they have...