Researchers have incorporated labor or credit market frictions in isolation within simple neoclassical models to open up a role for institutions, inject realism into their models and examine the impact of these distortions on output and employment. We present an overlapping generations model...

A cornerstone of demographic transition theory is that declines in infant and child mortality plausibly explain the onset of fertility decline in most countries. Simple versions of the Barro-Becker model of fertility choice have trouble delivering this link. We propose an extension, the...

Numerous researchers have incorporated labor or credit market frictions within simple neoclassical models to (i) facilitate quick departures from the Arrow-Debreu world, thereby opening up the role for institutions, (ii) inject some realism into their models, and (iii) explain cross country...

Researchers have incorporated labor or credit market frictions in isolation within simple neoclassical models to open up a role for institutions, inject realism into their models and examine the impact of these distortions on output and employment. We present an overlapping generations model...

We present an overlapping generations model in which a labor market friction (moral hazard) coexists and interacts with a credit market friction (costly state verification). Our main results are: (i) while credit market frictions have long- and short-run real effects, labor market frictions...

Numerous researchers have incorporated labor or credit market frictions within simple neoclassical models to (i) facilitate quick departures from the Arrow-Debreu world, thereby opening up the role for institutions, (ii) inject some realism into their models, and (iii) explain cross country...

In most demographic transitions, declines in child mortality precede declines in net fertility rates. Variants of the Barro-Becker model of fertility fail to deliver this link. A simple extension, the inclusion of social norms regarding fertility, generates the desired effect.

In most demographic transitions, declines in child mortality precede declines in net fertility rates. Variants of the Barro–Becker model of fertility fail to deliver this link. A simple extension, the inclusion of social norms regarding fertility, generates the desired effect.