We develop and estimate an equilibrium model of intergenerational earnings persistence based on skill complementarity in production. We show that when a worker's productivity is relatively independent of co-workers' skills (i.e., skills are substitutable) parental investments in a child's human...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labour supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

This paper compares partial and general equilibrium effects of alternative financial aid policies intended to promote college participation. We build an overlapping generations life-cycle, heterogeneous-agent, incomplete-markets model with education, labor supply, and consumption/saving...

Tigers are a threatened species that might soon disappear in the wild. Not only are tigers threatened by deteriorating and declining habitat, but poachers continue to kill tigers for traditional medicine, decoration pieces and so on. Although international trade in tiger products has been banned...

The economic effects of the mountain pine beetle outbreak in British Columbia are simulated using a multi-region spatial price equilibrium model coupled with a stochastic dynamic updating procedure. The simulation captures expected changes in the B.C. timber supply, growth of plantation forests...

The log export policy suggestion by Dumont and Wright (2006) is critically assessed in an effort to determine if it is based on economic efficiency. The optimal log export policy for British Columbia is derived using two different models. The first model assumes that B.C. is a small open...

Previous empirical work that assessed the theoretical results of Lucas (1972) is updated by incorporating recent data, utilizing advancements in time series methods and bootstrapping results. Specifically, the two-stage method of Ball et al. (1988) and others is used, but the functional form...