We build a model of endogenous destruction with credit and labor market imperfections, represented by a matching process between financiers and entrepreneurs on one hand, and entrepreneurs and workers on the other hand. Business creation, credit opening and job destruction represent three active...

Credit market imperfections influence the labor market and aggregate economic activity. In turn, macroeconomic factors have an impact on the credit sector. To assess these effects in a tractable general-equilibrium framework, we introduce endogenous search frictions, in the spirit of Peter...

Overall, the issue of whether Europeans are lazy or Americans are crazy seems of second-order importance relative to understanding the determinants of individual behavior. Amore useful, scientific approach is to assume that underlying tastes are common to both continents, while technologies,...

This paper investigates the economics of ”blue laws” or restrictions on shop-opening hours, most commonly imposed on Sunday trading. We show that in the presence of communal leisure or ”ruinous competition” externalities, retail regulations can have real effects in a simple general...

Using time-diary data from 25 countries, we demonstrate that there is a negative relationship between real GDP per capita and the female-male difference in total work time per day—the sum of work for pay and work at home. In rich northern countries on four continents there is no difference—...

General comments • Ambitious project • It provides a quantitative characterization of optimal intergenerational risk sharing in a world in which almost everything is random (productivity, demography, longevity), and in which investment is the engine of long-run growth (Ak model). • This is...

Using time-diary data from 27 countries, we demonstrate a negative relationship between real GDP per capita and the female-male difference in total work time—the sum of work for pay and work at home. We also show that in rich non-Catholic countries on four continents men and women do the same...

Time-diary data from 27 countries show a negative relationship between GDP per capita and gender differences in total work—for pay and at home. In rich non-Catholic countries men and women average about the same amount of total work. Survey results show scholars and the general public believe...

We explore the accumulation of capital in the presence of limited insurance against idiosyncratic shocks, borrowing constraints and endogenous labor supply. In the exogenous labor supply case (e.g. Aiyagari 1994, Huggett 1997), the presence of limited insurance increases the demand for savings...

Using time-diary data from 25 countries, we demonstrate that there is a negative relationship between real GDP per capita and the female-male difference in total work time per day – the sum of work for pay and work at home. In rich northern countries on four continents, including the United...