We develop a framework for estimating the optimal expenditure of agents subject to unobserved liquidity constraints. OUr framework allows us to estimate credit ceilings as well as preference parameters. We apply the framework to data on net resource transfers from private lenders to twenty-nine...

This paper studies under which conditions a cross-section regression yields unbiased estimates of the parameters of an individual dynamic model with fixed effects and individual-specific responses to macro shocks.

[spa] Subsidio intertemporal del consumo, desarrollos recientes, . por Jerome Adda.. . Este artículo presenta los desarrollos recientes de la teoría del reparto intertemporal del consumo y del ahorro. Partimos del modelo de ingreso permanente de anticipaciones racionales. Este modelo no...

This paper analyzes the career progression of skilled and unskilled workers, with a focus on how careers are affected by economic downturns and whether formal skills, acquired early on, can shield workers from the effect of recessions. Using detailed administrative data for Germany for numerous...

We study the effect of permanent income innovations on health for a prime-aged population. Using information on more than half a million individuals sampled over a 25-year period in three different cross-sectional surveys we aggregate data by date-of-birth cohort to construct a "synthetic...

We evaluate the impact on crime of a localized policing experiment that depenalized the possession of small quantities of cannabis in the London borough of Lambeth. We find that depenalization policy caused the police to reallocate effort toward nondrug crime. Despite the overall fall in crime...

This paper analyzes the effects on firms of a ban on smoking in public places. Our empirical strategy relies on comparing outcomes in Scotland before and after the Scottish smoking ban (introduced in March 2006) with those in northern England, where such a ban was not in place. Our analysis of...

type="main" xml:lang="en" <title type="main">SUMMARY</title> </section> <title type="main">Digital TV</title> <p> This paper studies the role of economic policy for the transition from analogue to digital television, with particular attention to the switch off of the analogue terrestrial signal. The analogue signal cannot be credibly switched off until almost...</p>