Despite decades of progress, women remain underrepresented in the upper part of the earnings distribution, a phenomenon often referred to as the “glass ceiling.” We review the recent research trying to explain this phenomenon. After briefly revisiting gender differences in education, we turn...

We use Adobe Analytics data on online transactions for millions of products in many different categories from 2014 to 2017 to shed light on how online inflation compares to overall inflation, and to gauge the magnitude of new product bias online. The Adobe data contain transaction prices and...

We consider 2-player zero-sum stochastic games where each player controls his own state variable living in a compact metric space. The terminology comes from gambling problems where the state of a player represents its wealth in a casino. Under natural assumptions (such as continuous running...

Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspot"-coordinated buyers strike. We introduce a bailout agency, and characterize the...

We consider the use of Quanti fier Elimination (QE) technology for automated reasoning in economics. There is a great body of work considering QE applications in science and engineering but we demonstrate here that it also has use in the social sciences. We explain how many suggested theorems in...

How do import tariffs and R&D subsidies help domestic firms compete globally? How do these policies affect aggregate growth and economic welfare? To answer these questions, we build a dynamic general equilibrium growth model where firm innovation endogenously determines the dynamics of...

A model is developed in which two complementary forms of investment contribute to growth--technology and skill acquisition, and growth takes two forms--TFP and variety growth. The rate of TFP growth depends more heavily on the parameters governing skill accumulation, while variety growth...

We examine the payoff performance, up to the end of 2013, of non-agency residential mortgage-backed securities (RMBS), issued up to 2008. We have created a new and detailed data set on the universe of non-agency residential mortgage backed securities, per carefully assembling source data from...

Health Insurance Marketplaces have received considerable attention for their narrow network health plans. Yet, little is known about consumer tastes for network breadth and how they affect plan selection. I estimate demand for health plans in California's Marketplace, Covered California. Using...

I conduct inference on moral hazard in the Italian automobile in-surance market. I disentangle moral hazard from adverse selection and state dependence by exploiting the non-linearities in the penalties across driving records and companies, and a discontinuity in the cost of accidents in the...