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TBA
Persistent link: https://www.econbiz.de/10010856613
In Bassetto with Sargent (2004) and Bassetto and Lepetyuk (2007), I developed a model that can be used to quantitatively assess the consequences of departures from Ricardian equivalence on the mix of public goods provided by the government. Those papers assume that mobility is exogenous and that...
Persistent link: https://www.econbiz.de/10010856614
Persistent link: https://www.econbiz.de/10010856615
We estimate an empirical model of consumption disasters using a new panel data set on consumption and output for over 20 countries and more than 100 years. The model allows for permanent and transitory effects of disasters, nesting both unit root and trend stationary consumption growth. We...
Persistent link: https://www.econbiz.de/10010856616
In this paper, we develop a tractable model of the labor market featuring on-the-job search and aggregate fluctuations.
Persistent link: https://www.econbiz.de/10010856617
To explore the quantitative implications that AIDS has for the development path of the Sub- Saharan African economies, I extend a standard theory of economic development that reproduces the process of industrialization, Hansen and Prescott (2002), with a population model that relates the age...
Persistent link: https://www.econbiz.de/10010856618
Financial crises are costly. In the recent crisis in Argentina, for example, from the onset of sovereign debt repayment difficulties at the end of 2000 until the beginning of 2002, real GDP dropped by almost 20%. A simple aggregate growth accounting exercise suggests that a large part of this...
Persistent link: https://www.econbiz.de/10010856619
The paper presents a general equilibrium model with search on the job. Workers differ in terms of skill levels and firms differ in terms of productivity. Depending on the production function characteristics, sorting in matching may occur. The paper estimates the model on Danish match data and...
Persistent link: https://www.econbiz.de/10010856620
Educational attainment varies greatly across countries and within countries over time. This paper asks whether the variation in education is primarily due to structural change or to within industry skill upgrading. The main finding is that within industry variation accounts for at least 2/3 of...
Persistent link: https://www.econbiz.de/10010856621
I study random-matching economies where at money coexists with real assets, and no restrictions are imposed on payment arrangements. I emphasize informational asymmetries about asset fundamentals to explain the partial illiquidity of real assets and the usefulness of at money. The liquidity of...
Persistent link: https://www.econbiz.de/10010856622