High rerunning rates among incumbents and among the two major parties, allow studies of US incumbency advantage to bypass the selection problem of who chooses to rerun. In countries where rerunning is not widespread among individuals or parties, estimation using methods developed for the US may...

We present a theory and experimental evidence on pricing and portfolio choices under asymmetric reasoning. We show that under asymmetric reasoning, prices do not reflect all (types of) reasoning. Some agents who observe prices that cannot be reconciled with their reasoning switch from perceiving...

This paper analyses the effects on voting behavior of information disseminated over the Internet. We address endogeneity in Internet availability by exploiting regional and technological peculiarities of the preexisting voice telephony network that hindered the roll-out of fixed-line...

We study the effects of front-loading the payment of unemployment benefits in an equilibrium matching framework with precautionary savings. Front-loading the benefit system trades off fewer means to smooth consumption at long unemployment durations for improved insurance upon job loss. In the...

This paper studies the interactions between urban labour informality and selective migration, and explores the consequences of productivity changes at both sectoral and individual levels. It proposes a general equilibrium model with heterogeneous workers to characterize the sizable agriculture...

This paper proposes a small-scale general equilibrium model of structural transformation with an urban labour market characterized by search frictions. The model is used to investigate the role of sectoral TFPs as main drivers of structural change and a new growth accounting exercise gives a...

This paper provides new empirical insights on the joint distribution of consumption, income, and wealth (CIW) in three of the poorest countries in the world - Malawi, Tanzania, and Uganda - all located in sub-Saharan Africa (SSA). Our first finding is that while income inequality is similar to...

We provide a joint account of the unemployment and labor force participation patterns of older male workers during the past half-century, and of the role of institutions that have shaped their employment experience. To do so, we build an equilibrium model with labor market frictions,...

We study the effects of front-loading the payment of unemployment benefits in general equilibrium economies with imperfect labor and insurance markets, focusing on the trade-off between improved re-employment rates and the potential welfare losses accruing from consumption-smoothing problems....

We consider auctions where bidders care about the reputational effects of their bidding and argue that the amount of information that is disclosed at the end of the auction will influence bidding. Our analysis focuses on several bid disclosure rules that capture all of the realistic cases. We...