This paper examines the effect of labor market opportunities on schoolingemployment decisions in 12 urban areas in Argentina over 12 years, emphasizing the recession/crisis years 1998-2002. Over "typical" years deteriorating job rates increase the probability of attending school and decrease the...

This paper presents an (S,s) model for automobile consumption and estimates it using a data set of US households. The model allows for unobserved heterogeneity in both the target level and the band width, takes into account the possibility of a zero desired level, constrains the band to be non...

Liquidity constraints and, more generally, imperfections in credit markets, can be extremely important for the intertemporal allocation of consumption and have received a substantial amount of attention in the theoretical and empirical literature on consumption. In the first part of the paper I...