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In this paper, we show that gender gaps in performance observed in high-stakes exams, relative to low-stakes exams, are partially shaped by the context of exam preparation. We examine the role of …
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 …
We conduct a welfare analysis of R&D subsidies and tax credits using a model of innovation policy incorporating externalities, limited R&D participation and financial market imperfections. We …