Cryptocurrency is private money and is costly to produce. In this paper, I ask whether cryptocurrency can serve as a medium of exchange, and whether it can coexist with fiat money as a widely accepted medium of exchange. To answer these questions, I develop two search-theoretic models: a model...

Raising the retirement age is a common policy response when social security schemes face fiscal pressures. We develop and estimate a dynamic life cycle model to study optimal retirement and tax policy when individuals face health shocks and income risk and make endogenous retirement decisions....

Between the months of February and April of 2020, average weekly market hours dropped by 6.25, meanwhile 35% of commuting workers reported switching to remote work arrangements. In this paper, we examine implications of these changes for the time allocation of different households, and on...

A healthy diet is associated with a reduced risk of premature death, but data on the association between food expenditure and life expectancy are scarce. We conducted this study to determine the association of expenditure on food groups with life expectancy in men and women. This study used data...

The labor supply of older men increased from the 1930s to the 1950s cohort. I estimate a structural model that fits the participation and hours worked by the 1930s cohort well. The observed policy changes in normal retirement age, the earnings test, and delayed retirement credits explain 73.4%...

Raising the retirement age is a common policy response when social security schemes face fiscal pressures. We develop and estimate a dynamic life cycle model to study optimal retirement and tax policy when individuals face health shocks and income risk and make endogenous retirement decisions....

Using a model of family decision-making with home production and individual heterogeneity, we quantitatively investigate the role of changes in several aspects of the joint earnings distribution of husbands and wives (gender earnings gap, gender-specific inequality and assortativeness of...

This paper estimates the effect of graduating from college on lifetime earnings. Motivated by the fact that nearly half of all college students fail to earn a bachelor’s degree, we study a model of risky college completion. The central idea is that students drop out of college mainly because...

This paper studies the effect of graduating from college on lifetime earnings. We develop a quantitative model of college choice with uncertain graduation. Departing from much of the literature, we model in detail how students progress through college. This allows us to parameterize the model...