This paper studies the effects of health shocks on the demand for health insurance and annuities, along with precautionary saving in a dynamic life-cycle model. I argue that when the health shock can simultaneously increase health expenses and reduce longevity, rational agents would neither...

In this paper, I extend the Barro-Becker model of endogenous fertility to incorporate specific fiscal policies and use it to study the effects of the fiscal policy changes following WWII on fertility in the United States. The US government went through large changes in fiscal policy after the...

In a quantitative model of Social Security with endogenous health, I argue that Social Security increases the aggregate health spending of the economy because it redistributes resources to the elderly whose marginal propensity to spend on health is high. I show by using computational experiments...

This paper considers four alternative policies for controlling harvest within a fishery: (1) individual limits without a permit market, (2) individual limits with a permit market, (3) a collective limit with individual decisions, and (4) a collective limit with collective decisions. We focus on...

States are increasingly turning to environmental taxes as a means of raising revenue. These taxes are often thought to generate a double dividend: an environmental dividend stemming from the environmental improvement, and an economic dividend resulting from use of the revenue from environmental...

We introduce a structural model of procurement auctions with incomplete contracts, where a procurer chooses an initial project specification endogenously. The contract between the procurer and the winner of the auction is incomplete in that the two parties may agree to adopt a new feasible...

We study the nonparametric identification and estimation of a structural model for committee decisions. Members of a committee share a common information set, but differ in ideological bias while processing multiple information sources and in individual tastes while weighing multiple objectives....

This paper considers the widely admitted ill-posed inverse problem for measurement error models: estimating the distribution of a latent variable X∗ from an observed sample of X, a contaminated measurement of X∗. We show that the inverse problem is well-posed for self-reporting data under...

This paper considers identification and estimation of a general model for online price competition. We show that when the number of competing firms is unknown, the underlying parameters of the model can still be identified and estimated employing recently developed results on measurement error....

It is widely admitted that the inverse problem of estimating the distribution of a latent variable X* from an observed sample of X, a contaminated measurement of X*, is ill-posed. This paper shows that a property of self-reporting errors, observed from validation studies, is that the probability...