The consumption literature uses adult equivalence scales to measure individual-level inequality. This practice imposes the assumption that there is no within-household inequality. In this paper, we show that ignoring consumption inequality within households produces misleading estimates of...

In this article, I develop and estimate a model of on-the-job search in which risk averse workers choose search effort and can borrow or save using a single risk free asset. I derive the implications for optimal savings behaviour in this environment and relate this to the frictions that...

This paper analyzes a new estimator for the structural parameters of dynamic models of discrete choice. Based on an inversion theorem due to V. J. Hotz and R. Miller (1993), which establishes the existence of a one-to-one mapping between the conditional valuation functions for the dynamic...

The conventional approach to social programme evaluation focuses on estimating mean impacts of programmed. Yet many interesting questions regarding the political economy of programmes, the distribution of programme benefits and the option values conferred on programme participants require...