We propose a complementary explanation for the evolution of the college gender gap that emphasizes the raising opportunity cost of pursuing a college degree for men, due to the increase in the rewards to becoming a superstar in men-dominated occupations, like professional sports. We support our...

Existing models of foreign debt and insurance capacity assume that the costs and benefits of default are evenlydistributed across agents in the defaulting country. To study how tensions among different groups inside a country affect its sovereign risk management I consider an economy whose...

I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics...

I present a survey on the econometric approach to the measurement of efficiency, focusing on the models used in empirical applications. I describe both models for cross sectional data and models for panel data. Finally, I survey the recent literature on models with time varying technical efficiency.

We report that on any given day the number of inmates released from incarceration significantly affects the number of offenses committed this day, and we name this as first-day recidivism. Our estimates of this novel approach to study early recidivism are robust to a variety of alternative model...