This paper develops a computable Overlapping Generations (OLG) model for gender and growth policy analysis. The model accounts for human and physical capital accumulation (both public and private), intra- and inter-generational health persistence, fertility choices, and women's time allocation...

This paper examines the financial and real effects of excess reserves in a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model with monopoly banking, credit market imperfections and a cost channel. The model explicitly accounts for the fact that banks hold excess reserves and they...

This paper investigates the usefulness of information criteria for inference on the number of structural breaks in a standard linear regression model. In particular, we propose a modified penalty function for such criteria based on theoretical arguments, which implies each break is equivalent to...

This paper conducts a theoretical and quantitative analysis of how entrepreneurs choose firm size, capital structure, default, and owner consumption to manage firm risk, including how these choices change with risk aversion. We decompose an entrepreneur’s default decision into three elements:...

This paper develops a three-period, gender-based overlapping generations model of endogenous growth with endogenous intra-household bargaining and child labor in home production by girls. Improved access to infrastructure reduces the amount of time parents find optimal for their daughters to...

Digressing into the origins of the two main algorithms considered in the literature of adaptive learning, namely Least Squares (LS) and Stochastic Gradient (SG), we found a connection between their non-recursive forms and their interpretation within a state-space unifying framework. Based on...

This paper presents a dynamic general equilibrium analysis of education, public sector corruption and economic growth. In an economy with government intervention along with physical and human capital accumulation, state-appointed bureaucrats are responsible for procuring public goods, which...