I use a flexible price version of the Prescott (1975) “hotels” model to study a dynamic model that allows for storage. The formulation follows the standard competitive analysis tradition with a non-standard definition of markets: The set of markets that open depends on the state of demand. I...

Australia, Canada, Germany, and the United States experienced a substantial decline in undergraduate degrees in economics from 1992 through 1996, followed immediately by a modest recovery. This cycle does not conform to overall degree trends, shifts in the gender composition of undergraduate...

We document the types of undergraduate colleges and universities attended by those who earned a doctorate in economics from an American university from 1966 through 2003 and examine relationships between type of undergraduate institution and attrition and time-to-degree in Ph.D. programs. The...

Random effects estimates using panel data for 42 colleges and universities over 16 years reveal that the economics faculty size of universities offering a Ph.D. in economics is determined primarily by the long-run average number of Ph.D. degrees awarded annually; the number of full-time faculty...

We investigate which of the students who entered economics Ph.D. programs in fall 2002 were more likely to earn a Ph.D. within five years, and which were more likely to have dropped out. Students enrolled in Top-15 ranked programs are less likely to have dropped out, but no more likely than...