This study develops a novel model of endogenous sovereign debt maturity that rationalizes
various stylized facts about debt maturity and the yield spread curve: first, sovereign debt …

Taste shocks result in nondegenerate choice probabilities, smooth policy functions,
continuous demand correspondences, and reduced computational errors. They also cause …

Background Various quantitative and quality assessment tools are currently used in nursing
to evaluate a patient's physiological, psychological, and socioeconomic status. The results …

What are the aggregate effects of informality in a financially constrained economy? We
develop and calibrate an entrepreneurship model to data on matched employer-employee …

Empirical research on sovereign default shows “hard defaults”—defined as defaults with
above-average haircuts—have worse outcomes for GDP growth than “soft defaults” and that …

This study develops a novel model of endogenous sovereign debt maturity choice that
rationalizes various stylized facts about debt maturity and the yield spread curve: first …

How does convenience yield interact with sovereign risk and the supply of government
bonds? We propose a model of sovereign debt and default in which convenience yield …

This paper proposes a novel approach for the computation of dynamic stochastic equilibrium
models. We design an FPGA specialized in the computation of a Bellman equation via value …

We analyze life-cycle saving strategies with a recursive model that is designed to provide
reasonable positive values for the value of a statistical life. With a positive value of life, risk …

We show that mortgage recourse systems, by discouraging default, magnify the impact of
nominal rigidities. They cause deeper and more persistent recessions. This mechanism can …