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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. …
We quantify the effect of education on mortality using a linkage of the full count 1940, 2000, and 2010 US census files and the Numident death records file. Our sample is composed of children aged …
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 …