How to allocate college seats across regions is an important yet largely neglected issue. It may imply a policy tradeoff between efficiency in aggregate human capital production and equality of opportunities for people growing up in different places. Furthermore, the flow of college attendance,...

Frictionless economy is the new concept emerged from late 90s1. Its core idea is to remove the time both suppliers and customers spend on the trial and error on the price. So the markets always perform on the equilibriums. So markets can work in the perfect efficiency. But due to the various...

Reports of the difficulties of elite women in finding suitable mates have been increasing despite the growing availability and value of men in China. We rationalize this “leftover women” phenomenon within the directed/competitive search framework, which uniquely allows for equilibrium...

Reports of the difficulties of elite women in finding suitable mates have been increasing despite the growing availability and value of men in China. We rationalize this “leftover women” phenomenon within the directed/competitive search framework, which uniquely allows for equilibrium...

Reports of the difficulties of elite women in finding suitable mates have been increasing despite the growing availability and value of men in China. We rationalize this “leftover women” phenomenon within the directed/competitive search framework, which uniquely allows for equilibrium...

Reports of the difficulties of elite women in finding suitable mates have been increasing despite the growing availability and value of men in China. We rationalize this “leftover women” phenomenon within the directed/competitive search framework, which uniquely allows for equilibrium...

Education is a fundamental factor to enhance a country’s comprehensive national strength and international competitiveness. Recently, several governments have been attracting investments in educational sectors in contemplation of meliorating a country’s overall strength. This study...

This paper studies the effect of labor market reform, in the form of reductions in firing costs and unemployment benefits, on inflation volatility. With this purpose, we build a New Keynesian model with search and matching frictions in the labor market, and estimate it using Euro Area data....

Estudiamos los efectos macroeconómicos de devaluaciones internas llevadas a cabo en los países de la periferia de una unión monetaria. Encontramos que las devaluaciones internas tienen efectos grandes y positivos sobre el output en el largo plazo. A través del canal de expectativas, la mayor...

We postulate a nonlinear DSGE model with a financial sector and heterogeneous households. In our model, the interaction between the supply of bonds by the financial sector and the precautionary demand for bonds by households produces significant endogenous aggregate risk. This risk induces an...