It is well-known that men and women segregate by occupation, but less is known about how they segregate by task within occupation. We show that the tasks performed by women are less skill intensive on the average than those performed by men having the same occupation. Neither demographic...

This paper estimates the long-lasting effects of institutions imposed by the three Empires: Austro-Hungary, Prussia and Russia during the Partition of Poland on the performance of Polish students. Using the two-dimensional geographical Regression Discontinuity Design I show that the Habsburg...

We seed noisy information to members of a real-world social network to study how information diffusion and information aggregation jointly shape social learning. Our environment features substantial social learning. We show that learning occurs via diffusion which is highly imperfect: signals...

“Most people would say that Europe is still sort of coming out of the financial crisis that we had 5 years ago, which was probably the worst since the Great Depression of 1930s. Now just to keep things in context, at the time people were saying that it was going to be worse than the Great...

Foreign direct investment (FDI) brings host countries capital, productive facilities, and technology transfers, as well as new jobs and management expertise. Thus it is important to understand why in many countries FDI inflow is lower than it would be expected. The goal of this study is to...

Rietz (1988) and Barro (2006) subject consumption and dividends to rare disasters in the growth rate. We extend their framework and subject consumption and dividends to rare disasters in the growth persistence. We model growth persistence by means of two hidden types of economic slowdowns:...

The paper introduces for the most frequently used three-dimensional fixed effects panel data models the appropriate Within estimators. It analyzes the behaviour of these estimators in the case of no-self-flow data, unbalanced data and dynamic autoregressive models. Then the main results are...

The paper sets out theory and evidence for the equilibrium determination of the nominal interest rate. We test the cash-in-advance economy using US postwar data and find cointegration of the interest rate, inflation, unemployment and the money supply, using either M2 or M1 monetary aggregates,...

In this paper, we introduce and analyze a new class of stochastic process, named Boundary Crossing Counting Process. We show how to assess its finite-sample probability distribution using first exit time distributions. We discuss and calibrate three different methods for estimating this...

This paper contributes to the literature in market power for emissions permits, modeling an emissions trading scheme in which polluters differ only in their business-as-usual emissions. They play a two-stage static complete information game in which their market power arises endogenously from...