Road transport imposes negative externalities on society. These externalities include
environmental and road damage, accidents, congestion, and oil dependence. The cost of …

To investigate whether peer-to-peer rental markets for durable goods are welfare-improving,
we develop a new dynamic model of such markets in which users with heterogeneous …

Uncertainty appears to jump up after major shocks like the Cuban Missile crisis, the
assassination of JFK, the OPEC I oil‐price shock, and the 9/11 terrorist attacks. This paper …

We evaluate the impact of the 2009 Cash for Clunkers program on short-and medium-run
auto purchases. Our empirical strategy exploits variation across US cities in ex ante …

An integrated approach to the empirical application of dynamic optimization programming
models, for students and researchers. This book is an effective, concise text for students and …

We document two new findings about the industry‐level response to minimum wage hikes.
First, restaurant exit and entry both rise following a hike. Second, there is no change in …

Italy's Law 488/1992 allows firms willing to invest in lagging areas to receive a public
subsidy. By comparing subsidized firms with firms with rejected applications, this paper …

Immediately following a minimum wage hike, household income rises on average by about
250perquarterandspendingbyroughly 700 per quarter for households with minimum wage …

This paper studies the effects of subsidies on durable goods markets. In particular, we focus
on a recent policy in France in which the governments of Balladur and Juppé subsidized the …

This article specifies and estimates a structural dynamic model of consumer demand for new
and used durable goods. Its primary contribution is to provide an explicit estimation …