What caused the baby boom? And, can it be explained within the context of the secular decline in fertility that has occurred over the last 200 years? The hypothesis is that: 1. The secular decline in fertility is due to the relentless rise in real wages that increased the opportunity cost of...

Growth theory goes a long way toward explaining phenomena in labor economics linked with U.S. economic development. Some examples are: (a) the secular decline in fertility between 1800 and 1980, (b) the decline in agricultural employment and the rise in skill since 1800, (c) the demise of child...

Electricity was born at the dawn of the last century. Households were inundated with a flood of new consumer durable goods. What was the impact of this consumer durable goods revolution? It is argued here that the consumer goods revolution liberated women from the home. To analyze this...

For 200 years the average number of hours worked per worker declined, both in the market place and in the home. Technological progress is the engine of such transformation. Three mechanisms are stressed: (i) The rise in real wages and its corresponding wealth effect; (ii) The enhanced value of...

Some facts characterizing the U.S. economic development in the 19th century are: (i) the westward movement of population; (ii) the accumulation of productive land; and (iii) the wage gap in favor of the West. An overlapping-generations model is developed, to account for these facts. The model's...

During the first half of the 20th century the workweek in the United States declined, and the distribution of hours across wage deciles narrowed. At the same time, the distribution of wages narrowed too. The hypothesis proposed is (i) Households have access to an increasing number of leisure...

What drove western population growth in the U.S. during the 19th century? The facts are: (i) Natural increase was higher in the West than in the East; and (ii) in the early stages of the settlement process, net migration could account for up to 80% of population growth in some regions. A general...

Eleven percent of the Malawian population is HIV infected. Eighteen percent of sexual encounters are casual. A condom is used one quarter of the time. A choice-theoretic general equilibrium search model is constructed to analyze the Malawian epidemic. In the developed framework, people select...

What type of businesses do unions target for organizing? A dynamic model of the union organizing process is constructed to answer this question. A union monitors establishments in an industry to learn about their productivity, and decides which ones to organize and when. An establishment becomes...

An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an...