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The first chapter studies Entrepreneurship and the Stigma of Failure. Entrepreneurial activity varies substantially across countries and sectors and appears to be related to the stigma of failure. To understand this phenomenon, I present a multiple-equilibrium model based on endogenous stigma of...
Persistent link: https://www.econbiz.de/10009432562
This dissertation consists of three chapters. The first chapter explores the effect of Wal-Mart expansion on local retail employment. The phenomenal expansion of Wal-Mart provides a clean case for studying the labor-market effects of increased efficiency. I estimate the effect of Wal-Mart entry...
Persistent link: https://www.econbiz.de/10009433085
The first essay explains why credit contracts in developing countries are often denominated in foreign currencies, even after many of these economies succeeded in controlling inflation. I propose a new interpretation based on the demand for insurance against real aggregate shocks. The fact that...
Persistent link: https://www.econbiz.de/10009432066
These four essays concern the theory of games and its application to economic theory. The first two, closely linked, chapters are an investigation into the foundational question of the sensitivity of the predictions of game theory to higher-order beliefs. Impact of Higher-Order Uncertainty with...
Persistent link: https://www.econbiz.de/10009432067
In this study we examine the impact of internet use on the duration of non-sequential search in the housing market. We develop a model of partial equilibrium in the housing market which suggests an ambiguous effect on the search duration when internet resources are employed in the search. In...
Persistent link: https://www.econbiz.de/10009432070
This dissertation consists of four empirical studies, each using military-induced variation to examine various aspects of human capital production and the U.S. labor market. The first two chapters study the effects of social interactions on human capital development at the United States Military...
Persistent link: https://www.econbiz.de/10009432071
This thesis consists of three studies of labor markets where differences in talent are associated with very large differences in income. The unifying theoretical feature is the view that the analysis of such labor markets should take into account the scarcity of jobs, which is a natural...
Persistent link: https://www.econbiz.de/10009432072
The first chapter of this dissertation examines the behavior of long- and short-term capital gains distributions after the passage of the Tax Reform Act of 1997, which lowered the maximum tax rate on long-term gains. Using a panel of mutual fund data, I examine the ratio of long-term to total...
Persistent link: https://www.econbiz.de/10009432213
In Chapter 1, I study the efficiency properties of competitive search equilibria in economies with informational asymmetries. Employers and workers are both risk-neutral and ex-ante homogeneous. I characterize an equilibrium where employers post contracts and workers direct their search towards...
Persistent link: https://www.econbiz.de/10009432230
This dissertation consists of three papers studying how firms allocate real and financial capital, and how taxes, the labor market and asymmetric information affect these allocation decisions. The first paper studies the response of business investment to taxes. I use the variation provided by...
Persistent link: https://www.econbiz.de/10009432231