This article develops and implements a Real Option approach to value renewable natural resources in the case of Marine Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by fisheries to optimally adapt their harvesting...

Instrumental variables (IV) estimation of a demand equation using time series data is shown to produce a weighted average derivative of heterogeneous potential demand functions. This result adapts recent work on the causal interpretation of two-stage least squares estimates to the simultaneous...

We use data on all middle and high school-aged children who survived a mass shooting incident on July 22, 2011 in Utoya, Norway, to understand how such events affect survivors, their families, and their peers. Using a difference-in-differences design to compare survivors to a matched control...

Recent descriptive work suggests the type of college education (field or institution) is an important but neglected pathway through which individuals sort into homogeneous marriages. These descriptive studies raise the question of why college graduates are so likely to marry someone within their...

Upon assuming power for the first time in 1935, the Norwegian Labour Party delivered on its promise of a major schooling reform. The reform raised minimum instruction time in less developed rural areas and boosted the resources available to rural schools, reducing class size and increasing...

Countries that implement wealth taxes make many practical compromises regarding relative treatment and approach to valuation of different categories of assets in order to ease assessment and liquidity difficulties with this form of taxation. Relying on Norwegian variation in tax and base rules,...

We use population data on capital income and wealth holdings for Norway to measure asset positions and wealth returns before individuals marry and after the household is formed. These data allow us to establish a number of novel facts. First, individuals sort on personal wealth rather than...

Democratic representation is constrained by the alternatives available to voters. In this paper, we develop a methodology to gauge the extent to which the "supply side" of politics hinders voter welfare. Using rich data on thousands of candidates in three Brazilian legislative elections, we...

Transfers from parents--either in the form of gifts or inheritances--have received much attention as a source of inequality. This paper uses a 19-year panel of administrative data for the population of Norway to examine the share of the Total Inflows available to an individual (defined as the...

High school vocational education has a controversial history in the United States, largely due to a perceived tradeoff between teaching readily deployable occupational skills versus shunting mostly disadvantaged students away from the educational and career flexibility afforded by general...