In this paper, the authors develop and estimate time-series models of the rational-expectations equilibrium laws of m otion for several U.S. commodity imports: bauxite, cocoa, coffee, and petroleum. The theoretical model is based upon the optimizing behavi or of firms that import in the presence...

A multivariate linear rational expectations equilibrium version of the Lucas-Prescott investment model is developed to study the behavior of factors of productions with recursive interrelations. The connection between these interrelations and endogenous cycling is established in a testable way....

We analyze an equilibrium search model with three sources for wage and unemployment differentials among workers with the same (observed) human capital but different appearance (race): unobserved productivity, search intensities, and discrimination due to an appearance-based employer disutility...

This article analyzes the labor mobility and human capital accumulation of male immigrants from the former Soviet Union to Israel. We estimate a dynamic choice model for employment and training in blue- and white-collar occupations, where the labor market randomly offered opportunities are...