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This paper characterizes optimal education and population policies within a continuous-time overlapping generations (OLG) framework where fertility, schooling duration, and health expenditures are …
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. …
This paper studies the effects of overreaction to recent news for macroeconomic outcomes in the context of a quantitative model of sovereign debt and default. Overreaction is formalized in terms of …