In order to explain cyclical behaviour of factor demand, the static neo-classical model of the firm has been extended to include either adjustment costs (e.g. Lucas (1967)) or time-to-build considerations as in Kydland and Prescott (1982). This paper presents an intertemporal factor demand model...

We develop a theory of the market for individual reputation, an indicator of regard by one’s peers and others. The central questions are: 1) Does the quantity of exposures raise reputation independent of their quality? and 2) Assuming that overall quality matters for reputation, does the...

The paper compares the cognitive test scores of children in Great Britain and the United States in vocabulary, reading, mathematics and memory of words and numbers. Children age 5-9 in Britain systematically out-perform their U.S. counterparts on reading and mathematics tests, while children age...