In monetary unions, monetary policy is typically made by delegates of the member countries. This procedure raises the possibility of 'strategic delegation' - that countries may choose the types of delegates to influence outcomes in their favor. We show that without commitment in monetary policy,...

In this chapter we revisit the relationship between income and fertility. There is overwhelming empirical evidence that fertility is negatively related to income in most countries at most times. Several theories have been proposed in the literature to explain this somewhat puzzling fact. The...

This paper presents a model of optimal taxation in which both private agents and the government can default on their debt. We first consider Ramsey equilibria in which the government can precommit to its policies but in which private agents can default. We then consider sustainable equilibria in...

"We study the large observed changes in labor supply by married women in the United States over 1950--1990, a period when labor supply by single women has hardly changed at all. We investigate the effects of changes in the gender wage gap, technological improvements in the production of...