We examine the distribution of hours of work across industrial sectors in OECD countries. We find large disparities when sectors are disaggregated into those that produce goods (a) with no home substitutes, (b) in health and social care, or (c) with close home substitutes. We attribute the...

Every year during the second and third quarters (the "hot season") housing markets in the U.K. and the U.S. experience systematic above-trend increases in both prices and transactions. During the fourth and first quarters (the "cold season"), housing prices and transactions fall below trend. A...

We find that sequential division of labor and deadlines help alleviate the free rider problem. Conversely,indivisibility of tasks, the number of partners, and asymmetries between agents are shown to increase the expected time to completion. The model may be applied to academic co-authorship, as...