This paper presents a model of human capital accumulation that allows for feedback effects between the consequences and the likelihood of suffering from particular diseases and the decisions to invest in knowledge, both in the form of schooling and on-the-job training. I use a calibrated version...

We develop a model of retirement and human capital investment to study the effects of tax and retirement policies. Workers choose the supply of raw labor (career length) and also the human capital embodied in their labor. Our model explains a significant fraction of the US-Europe difference in...

In this paper we revisit the connection between changes in interest rates, loan-to-value ratios and expectations in inaÌuencing housing prices. We construct a two good general equilibrium model in which housing is a composite good produced using structures and land. We show that changes in...