More cattle, less deforestation? Land use intensification in the Amazon is an unexpected phenomenon. Theories of hollow … of a positive relation between cattle intensification and deforestation (‘rebound effect’). The reduced-form model I …

Recession. I next develop a heterogeneous firm model with Bayesian learning and uncertainty shocks to study the aggregate …'s (1982) model of learning in a setting where each firm gradually learns about its own productivity, and each occasionally … experiences a shock forcing it to start learning afresh. Firms differ in their information; more informed firms have lower …

cumulative learning between the first and the nth attempt while controlling for selection into retaking in terms of observed and … unobserved characteristics. Large learning gains measured in terms of improvements in the exam scores are found, especially among …