We propose a unified growth theory to investigate the mechanics generating the economic and demographic transition, and the role of mortality differences for comparative development. The framework can replicate the quantitative patterns in historical time series data and in contemporaneous...

This paper investigates the macroeconomic and welfare effects of an anticipated future switch from destination- to origin-based commodity taxation. We set up an intertemporal representative-agent model of an open economy and study especially consumption, investment, and trade-balance responses...

We develop an insurance market model where consumers (i) exhibit present-biased preferences, and (ii) suffer from physical pain in case of (health-) damage. They can exert preventive effort to reduce the probability of damage. Sophisticated consumers correctly anticipate their effort and...

Decentralization of decision-making is among the most intriguing recent school reforms, in part because countries went in opposite directions over the past decade and because prior evidence is inconclusive. We suggest that autonomy may be conducive to student achievement in well-developed...

Available data and recently developed estimation methods make it possible to assess school performance in terms of a production process, where ’inputs’ of students, teachers, and resources are combined to create a very important ’output’: the cognitive skills of students. This paper...

While womens employment opportunities, relative wages, and the childquantityquality trade-off have been studied as factors underlyinghistorical fertility limitation, the role of womens education hasreceived little attention. We combine Prussian county data from threecensusesu1816, 1849, and...

Managers often use tournament incentive schemes which motivate workers to compete for the top, compete to avoid the bottom, or both. In this paper we test the effectiveness and efficiency of these incentive schemes. To do so, we utilize optimal contracts in a principal-agent setting, using a...