This paper evaluates the impact of an intervention targeted at marginalized low-performance students in public secondary schools in Mexico City. The program consisted in offering free additional math courses, taught by undergraduate students from some of the most prestigious Mexican...

A regression discontinuity analysis is used to test whether a sharp increase in the government transfers received by households, induced by a pension program for individuals age 70 and older in Mexico City, affects co-residing children's school enrollment. Results show that while household...

In this paper we present an endogenous growth model with physical and human capital accumulation and study the effects of labor and capital income taxation on the transitional dynamics to the balanced path. Our results amount to an extension of those in Caball\'{e} and Santos (1993) and offer...

This paper uses a recent demogrant for the elderly in Mexico City to estimate the e¤ect of an exogenous increase in the income of older individuals on the amount of private transfers they receive. My results show that not controlling for the endogeneity of income replicates the positive or...

We construct an intertemporal equilibrium with two agents with heterogeneous beliefs. Heterogeneity of beliefs induces volatility of the interest rate. We study the effect of financial innovation on interest rate volatility and conclude that, in a setting of asymmetric beliefs, introducing the...

This essay lists theoretical reasons why neoclassical models of one-sector growth imply that nations with identical economic structures need not converge to the same steady state or balanced growth path, and outlines the empirical significance and policy implications of conditional...

In this paper we consider a sequential trading economy with incomplete financial markets and a finite number of infinitely lived agents. We propose a specification of agents' budget sets and show that such specification features several desirable properties. We then establish the existence of an...

We provide a framework to evaluate whether or not a seller can increase his revenue in interacting with a privately informed buyer by using money-back guarantees (MBGs). The buyer's value for the good exhibits fi risk and his type is multidimensional giving the probability of Öt as well as the...

Classical deÖnitions of complementarity are based on cross price elasticities, and so they do not apply, for example, when goods are free. This context includes many relevant cases such as online newspapers and public attractions. We look for a complementarity notion that does not rely on price...