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We estimate local multipliers from the ARRA (Obama stimulus) bill using cross-county variation in expenditure. We use within-state variation, and include other demographic controls as well as a pred...
We examine equilibria in competitive insurance markets with adverse selection when wealth differences arise endogenously from unobservable savings or labor supply decisions. The endogeneity of wealth ...
We develop a unifying framework for optimal income taxation in multi-activity economies with general production technologies. Agents are characterized by an N-dimensional skill vector that captures in...
We use responses to survey questions in the 2010 Italian Survey of Household Income and Wealth that ask consumers how much of an unexpected transitory income change they would consume. We find tha...
Recent theoretical work has shown the importance of measuring microeconomic uncertainty for models of both general and partial equilibrium under imperfect insurance. In this paper the assumption of i...
Heterogeneity in capital and skills in a neoclassical stochastic growth model.
Quasi-linear preferences in the macroeconomy: Indeterminacy, heterogeneity and the representative consumer.
The past decade has seen the explosive emergence of online advertising as a major source of revenue for Internet publishers. Analyses of this phenomenon are mostly conducted in the sway of Google’s hu...
The past decade has seen the explosive emergence of online advertising as a major source of revenue for Internet publishers. Analyses of this phenomenon are mostly conducted in the sway of Googl...
The prominent but unproven intuition that preference heterogeneity reduces redistribution in a standard optimal tax model is shown to hold under the plausible condition that the distribution of prefer...
We examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinea...
Taiwan investment in MainlandChinaover the last 20 years has shown uneven distribution characteristics in the eastern, central and western regions. What factors led to this type of investment pattern?...
This paper deals with the estimation of technical efficiency in Czech agriculture with respect to significant firm heterogeneity. Two main questions are elaborated. The first concerns the choice of a ...
A theory based on the demography of top management teams is used to explain membership turnover in two Swedish business groups, network analysis being used to define group membership. The results sug...
We introduce a fully probabilistic framework of consumer product choice based on quality assessment. It allows us to capture many aspects of marketing such as partial information asymmetry, quality di...

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