Modern marriage markets display increasing turnover, with less marriage but more divorce and remarriage. As a consequence, a large number of children live in single-parent and step-parent households. We summarize here a general equilibrium approach that allows welfare evaluations. In the absence...

This paper develops a descriptive methodology for the analysis of wage growth of immigrants that is based on human capital theory. The sources of the wage growth are (1) the rise of the return to imported human capital, (2) the impact of accumulated experience in the host country, and (3) the...

This paper exploits dynamic features of insurance contracts in the empirical analysis of moral hazard. We first show that experience rating implies negative occurrence dependence under moral hazard: individual claim intensities decrease with the number of past claims. We then show that dynamic...

A standard problem of applied contracts theory is to empirically distinguish between adverse selection and moral hazard. We show that dynamic insurance data allow to distinguish moral hazard from dynamic selection on unobservables. In the presence of moral hazard, experience rating implies...