Reducing fixed cost duplication - a common justification for concentrated market structure - motivated the US government to relax the number of radio stations a firm could operate in any local market.  After deregulation the number of firms per market decreased.  The implied cost saving...

In this paper we use a dynamic structural life-cycle model to analyze the employment,fiscal and welfare effects induced by unemployment insurance. The model features a detailedspecification of the tax and transfer system, including unemployment insurance benefitswhich depend on an individual's...

In this paper we develop a dynamic structural life-cycle model of labor supplybehavior which fully accounts for the eects of income tax and transfers on la-bor supply incentives. Additionally, the model recognizes the demand side drivenrationing risk that might prevent individuals from realizing...

This paper considers the problem of determining the extent of any state dependen-cies in women's labor supply behavior. Employment outcomes are modeled using adynamic multinomial choice framework including persistent unobserved heterogeneitywith a relatively general distribution. In order to...

All empirical models of earnings processes in the literature assume agood deal of homogeneity. In contrast to this we model earnings processesallowing for lots of heterogeneity between agents. We also introduce an ex-tension to the linear ARMA model that allows that the initial convergenceto the...

Characteristics models have been found to be useful in many areas of economics. However,their empirical implementation tends to rely heavily on functional form assumptions. Inthis paper we develop a revealed preference approach to characteristics models. We derivethe necessary and sufficient...