We model a mechanism which can generate most of the gender gap in unemployment observed in most of the OECD countries. The main components of the model are moral hazard, labor market institutions, and higher home productivity of women than men. The source of moral hazard is imperfect monitoring...

In this paper we present an analytically tractable overlapping generations model of human capital accumulation, and study its implications for the evolution of the U.S. wage distribution from 1970 to 2000. The key feature of the model, and the only source of heterogeneity, is that individuals...

In this paper, we construct a parsimonious overlapping generations model of human capital accumulation, and study its quantitative implications for the evolution of the U.S. wage distribution from 1970 to 2000. One of the key features of the model is that individuals differ in their ability to...