This paper develops and estimates an equilibrium model where heterogeneous firms can
exploit two margins of informality:(i) not register their business, the extensive margin; and (ii) …

I use administrative data that link workers, firms, and robots in Denmark to study the
distributional impact of industrial robots. I structurally estimate a dynamic model of the firm …

This paper estimates returns to education using a dynamic model of educational choice that
synthesizes approaches in the structural dynamic discrete choice literature with approaches …

We develop an endogenous growth model in which clean and dirty technologies compete in
production. Research can be directed to either technology. If dirty technologies are more …

We develop a model of endogenous productivity change to examine the impact of the
investment in knowledge on the productivity of firms. Our dynamic investment model extends …

When regulated firms are offered compensation to prevent them from relocating, efficiency
requires that payments be distributed across firms so as to equalize marginal relocation …

Abstract We build a New Keynesian business-cycle model with rich household
heterogeneity. A central feature is that matching frictions render labor-market risk …

How should environmental policy respond to economic fluctuations caused by persistent
productivity shocks? This paper answers that question using a dynamic stochastic general …

This paper examines how divorce laws affect couples' intertemporal choices and well-being.
Exploiting panel variation in US laws, I estimate the parameters of a model of household …

Consumer bankruptcy provides partial insurance against bad luck, but, by driving up interest
rates, makes life-cycle smoothing more difficult. We argue that to assess this trade-off one …