This paper explores the implications of possible bias cancellation using Rubin-style matching methods with complete and incomplete data. After reviewing the na?ve causal estimator and the approaches of Heckman and Rubin to the causal estimation problem, we show how missing data can complicate...

This paper explores the implications of possible bias cancellation using Rubin-style matching methods with complete and incomplete data. After reviewing the naı̈ve causal estimator and the approaches of Heckman and Rubin to the causal estimation problem, we show how missing data can complicate...

Conventional R&D-based growth theory argues that productivity growth is driven by population growth but the data suggest that the erstwhile positive correlation between population and productivity turned negative during the 20th century. In order to resolve this problem we integrate R&D-based...

We show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective...

The purpose of this article is to identify the role of population size, population growth and population ageing in models of endogenous economic growth. While in exogenous growth models demographic variables are linked to economic prosperity mainly via the population size, the structure of the...

This article introduces a social planner version of a model central to the New Economic Geography for explicitly answering whether the symmetric equilibrium outcome of the decentralized market economy is socially desirable. We find that savings incentives are too weak, resulting in an...

We study socially vs. individually optimal lifecycle allocations of consumption and health care, when individual health expenditure curbs own mortality but also has a spillover effect on other persons' survival. Such spillovers arise, for instance, when health care activity at aggregate level...