Several empirical regularities motivate most theories of the distribution of labor earnings.
Earnings distributions tend to be skewed to the right and display long right tails. Mean …

This paper reexamines the empirical basis for two" facts" that seem to be found in most cross-
section studies of immigrant earnings:(1) the earnings of immigrants grow rapidly as they …

Should the national government undertake policies aimed at strengthening the economies
of particular localities or regions? Agglomeration economies and human capital spillovers …

This paper analyzes the economic role and performance of a type of financial institution
which is observed worldwide: rotating savings and credit associations (Roscas). Using a …

When changing jobs is costly, efficient employment contracts usually fail to compensate
workers for the effects of posthiring events and decisions. Then, when there are executives …

Valuation formulas for age-specific mortality risks are derived from life-cycle allocation
theory under uncertainty and related to empirical estimates of the value of life. A change in …

This paper examines the allocative performance of rotating savings and credit associations
(roscas), a financial institution which is observed world-wide. We develop a model in which …

Women are fecund for a shorter period of their lives than men. This paper investigates how
differential fecundity interacts with marriage, labor, and financial markets to affect gender …

This study measures the degree to which large public expenditures on wildfire protection
subsidize development in harm's way. Using administrative firefighting data, we calculate …

Diversity is the staff of economic life. Interpersonal differences in tastes and talents, whether
naturally endowed or environmentally produced, give us the unique “propensity to truck …