CAS: Economics: Scholarly Papers
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URI: http://hdl.handle.net/2144/1244
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Distribution regression with sample selection, with an application to wage decompositions in the UK
(Centre for Microdata Methods and Practice (cemmap), London, 2018)We develop a distribution regression model under endogenous sample selection. This model is a semiparametric generalization of the Heckman selection model that accommodates much rich patterns of heterogeneity in the selection ... -
A two step procedure for testing partial parameter stability in cointegrated regression models
(2020)Kejriwal and Perron (2010, KP) provided a comprehensive treatment for the problem of testing multiple structural changes in cointegrated regression models. A variety of models were considered depending on whether all ... -
Mortgage design in an equilibrium model of the housing market
(Wiley, 2020)How can mortgages be redesigned to reduce macrovolatility and default? We address this question using a quantitative equilibrium life‐cycle model. Designs with countercyclical payments outperform fixed payments. Among ... -
Effort and wages: evidence from the payroll tax
(Wiley, 2020-02-17)I show that under a canonical efficiency wage model, a per capita employment tax levied on the employer raises the wage. In contrast, under market-clearing, wages fall regardless of whether effort is contractible. I examine ... -
Multivariate rational inattention
(2018-12-01)We study optimal control problems in the multivariate linear-quadratic-Gaussian framework under rational inattention and show that the multivariate attention allocation problem can be reduced to a dynamic tracking problem ... -
The institutional foundations of religious politics: evidence from Indonesia
(2019-07-01)Why do religious politics thrive in some societies but not others? This paper explores the institutional foundations of this process in Indonesia, the world’s largest Muslim country. We show that an important Islamic ... -
Dynamic contracting with limited liability constraints
(2018-09-04)We study a dynamic mechanism design problem in which a buyer seeks to procure an item from a single seller in multiple periods. The seller is privately informed about her procurement cost at each period, and this cost may ... -
A conversation with Albert Ma
(World Scientific, 2020-05-05)Can you describe your field briefly? I am an applied microeconomist, and my research is on health economics and industrial organisation. My main interest is in the health market, and my favourite way to describe my work ... -
Decomposing changes in the distribution of real hourly wages in the U.S.
(Institute for Fiscal Studies, 2019-11-18)We analyze the sources of changes in the distribution of hourly wages in the United States using CPS data for the survey years 1976 to 2016. We account for the selection bias from the employment decision by modeling the ... -
How do foreclosures exacerbate housing downturns?
(Oxford University Press (OUP), 2020-05)This article uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyse foreclosure mitigation policy. We consider a dynamic search model in which ...
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