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This study characterizes optimal policy in an endogenous growth model where heterogeneous individuals choose between entering the workforce as unskilled labor or pursuing education to become skilled. …
Discussion paper
During the Soviet Union’s First Five-Year Plan, Western know-how and technology were extensively infused into industry through technical assistance agreements and work contracts with specialists and …
Discussion paper
Many auctions and procurement contests entail nontrivial bidding costs, which makes the bidders’ participation decisions endogenous to the auction design. We analyze the effect of different auction …
Discussion paper