We study a model where innovation comes in two varieties: improvements on existing products, and new products that expand the scope of a technology. We make this distinction in order to highlight how market structure can determine not only the quantity of innovation but also its direction. We...

We consider a generic environment with (potentially) multiple equilibria and analyze conditions for identification of the structural parameters. We then study conditions that allow for the estimation of both the structural parameters and the “selected equilibriumâ€. We focus on a...

The two main trends in gender differentials in the last decade suggest an apparently contradictory picture: women still experience a significant negative differential in wages but not in education, where they moved from a negative to a positive differential. We propose and estimate a model where...