Showing 1 - 10 of 76
Persistent link: https://www.econbiz.de/10005531742
Despite the well-known gains from trade, trade liberalization is politically one of the most contentious actions that a government can take. We propose and formalize a new argument, having to do with uncertainty, which is complementary to the usual explanations for why that is the case: many...
Persistent link: https://www.econbiz.de/10005478427
Persistent link: https://www.econbiz.de/10005478429
Standard models of public education provision predict an implicit transfer of resources from higher income individuals toward lower income individuals. Many studies have documented that public higher education involves a transfer in the reverse direction. We show that this pattern of...
Persistent link: https://www.econbiz.de/10005498549
The past decade has witnessed a renewed interest in regional trade agreements, with many policymakers and academics seeming to believe that these provide more than the traditional gains from trade. This article examines several possible benefits that regional trade agreements may confer on their...
Persistent link: https://www.econbiz.de/10005436282
This paper examines a process of debt renegotiation in which banks possess divergent interests and there is asymmetric information. The authors assume that large banks must exert pressure on small banks in order to obtain participation of these in the provision of new money and in debt...
Persistent link: https://www.econbiz.de/10005384789
This paper examines a two-sector small open economy that is subject to shocks in its terms-of-trade. Risk-neutral entrepreneurs use implicit contracts to insure risk-averse workers against fluctuations in their income. The characteristics of these contracts are examined within a general...
Persistent link: https://www.econbiz.de/10005400885
We present a simple model of sovereign debt crises in which a country chooses its optimal mix of short and long-term debt contracts subject to standard contracting frictions: the country cannot commit to repay its debts nor to a specific path of future debt issues, and contracts cannot be made...
Persistent link: https://www.econbiz.de/10011105936
Married women's labor force participation increased dramatically over the last century. I investigate the role of changes in culture arising from learning in this process. In the model, women hold (heterogeneous) beliefs regarding the long-run payoff of market work versus working at home....
Persistent link: https://www.econbiz.de/10011080477
This paper develops a quantitative life-cycle model to study the increase in married women's labor force participation (LFP). We calibrate the model to match key life-cycle statistics for the 1935 cohort and use it to assess the changed environment faced by the 1955 cohort. We find that a higher...
Persistent link: https://www.econbiz.de/10010969289