We reexamine the canonical adverse selection insurance economy first studied by Rothschild and Stiglitz [1976]. We define blocking in a way that takes private information into account and define a coalition-proof correspondence as a mapping from coalitions to allocations with the property that...

To considerable extend, working down housing inventory will simply take some time.

Of particular interest in the wake of the financial crisis is the profession's approach to the study of financial institutions.

Federal government debt held by the public reached 67.7 percent of gross domestic product in 2011, and trends point to large budget deficits for many years to come. In this essay, economics writer Renee Haltom and research director John Weinberg explore the implications for monetary policy if...

Financial education could have substantial implications for individuals’ well-being, even if the overall effects on the macroeconomy are not large.