The purpose of this paper is to explain the role of financial assets in allowing individual agents of an economy to make at time 0 some limited commitments into the future which, at some extent, redistribute their revenue among several time periods and different states of the world. It is done...

Unlike partial equilibrium analysis which study the equilibrium of a particular market under the clause "ceteris paribus" that revenues and prices on the other markets stay approximately unaffected, the ambition of a general equilibrium model is to analyze the simultaneous equilibrium in all...

We study the effects of admission into elite public high schools in Mexico City on students' expected earnings, arguing these effects provide an indication of the value-added those schools produce. Using data for the centralized and exam-based allocation of students into schools and an adapted...

We extend the standard Smets-Wouters (2007) medium-sized DSGE model in two directions, namely to analyse the effects of news and the Keynesian multiplier, and secondly to incorporate a fiscal policy rule. We show that both the news channel and the government spending fiscal policy rule...

We use a unique natural experiment in order to assess the impact of positive discrimination in India on targeted groups’ educational attainment. We take advantage of the harmonization of the Scheduled Castes lists within the Indian states taking place in 1976 to measure the increase of the...

We investigate the link between subject-related gender stereotypes and gender discrimination, and its consequences for the gender gap in science. Stereotypes and social norms influence girls' academic self-concept and push girls to choose humanities rather than science. Do recruiters reinforce...

From French data, this paper uses a difference-in-differences approach combined with propensity score matching to identify the effect of an exogenous change in employment protection among older workers on firm’s incentives to sponsor training. Laying off workers aged 50 and above, French firms...