Count models often best describe the nature of data in health economics, but the presence of fixed effects with excess zeros and overdispersion strictly limits the choice of estimation methods. This paper presents a quasi-conditional likelihood method to consistently estimate models with excess...

This paper takes a new approach to testing whether employer learning is public or private. We show that public and private learning schemes make two distinct predictions about the curvature of wage growth paths when there is a job change, because the amount of information transferred to a new...

Model uncertainty has become a central focus of policy discussion surrounding the determinants of economic growth. Over 140 regressors have been employed in growth empirics due to the proliferation of several new growth theories in the past two decades. Recently Bayesian model averaging (BMA)...

This paper provides new evidence on wage premiums for men in relation to marriage and cohabitation. Using data from the National Longitudinal Survey of Youth 1979, the paper shows that even after accounting for selection there is a cohabitation wage premium, albeit smaller than the marriage...

This paper incorporates uncertainty into the growth function of the Schaefer model for the optimal management of a biological resource. There is a critical value for the biological stock, and it is optimal to do no harvesting if the biological stock is below that critical value and to exert...