This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...

This paper reviews recent developments in nonparametric identi.cation of mea- surement error models and their applications in applied microeconomics, in particular, in empirical industrial organization and labor economics. Measurement error models describe mappings from a latent distribution to...

This paper examines the consequences of international financial integration in a two-sector heterogeneous-agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...

The cornerstone of mainstream economic theory is the premise of rationality. Humans are assumed to be rational economic agents who, subject to the available information and limited resources, are able to select, among a set of alternatives, the best means to maximize their ends and their...

We investigate how negatively reciprocal traits of unemployed individuals interact with "sticks" policies imposing constraints on individual job search effort in the context of the German welfare system. For this we merge survey data of long-term unemployed individuals, containing indicators of...

We investigate how negatively reciprocal traits of unemployed individuals interact with "sticks" policies imposing constraints on individual job search effort in the context of the German welfare system. For this we merge survey data of long-term unemployed individuals, containing indicators of...

We study, theoretically and empirically, the effects of incentives on the self-selection and coordination of motivated agents to produce a social good. Agents join teams where they allocate effort to either generate individual monetary rewards (selfish effort) or contribute to the production of...

We study, theoretically and empirically, the effects of incentives on the self-selection and coordination of motivated agents to produce a social good. Agents join teams where they allocate effort to either generate individual monetary rewards (selfish effort) or contribute to the production of...

We investigate how negatively reciprocal traits of unemployed individuals interact with "sticks" policies imposing constraints on individual job search effort in the context of the German welfare system. For this we merge survey data of long-term unemployed individuals, containing indicators of...

We explore the relationship between government size and economic growth in an endogenous growth model with human capital and an unproductive capital which facilitates rent-seeking. With exogenous as well as endogenous time discounting, we find a non-monotonic relationship between the size of...