This paper uses the technique of Lubik and Schorfheide [Lubik, T., Schorfheide, F., 2004. Testing for indeterminacy: an application to U.S. monetary policy. The American Economic Review 94 (1), 190-217] to test for indeterminacy in a New Keynesian Model. Using real-time, instead of revised data...

This paper develops a simple two-country, two-good model of international trade and borrowing that suppresses all previous sources of current account dynamics. Under rational expectations, international debt follows a random walk. Under adaptive learning, however, the model's unit root is...

This paper develops a simple two-country, two-good model of international trade and borrowing that suppresses all previous sources of current account dynamics. Under rational expectations, international debt follows a random walk. Under adaptive learning however, international debt behaves like...

I develop a model of ability sorting of low-wage workers across multiple markets when one market substantially increases its wage floor using a living wage. The wage floor increase can increase or decrease employment probabilities in both covered and uncovered markets.

Teacher effort, a critical component of education production, has been understudied in the literature because of measurement difficulties. I use a principal-agent model, North Carolina data, and the state’s accountability system that awards cash for school-level academic growth to distill...

White teenagers are substantially more likely to search for employment than black teenagers. This differential occurs despite the fact that, conditional on race, individuals from disadvantaged backgrounds are more likely to search. While the racial wage gap is small, the unemployment rate for...