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This study characterizes optimal policy in an endogenous growth model where heterogeneous individuals choose between entering the workforce as unskilled labor or pursuing education to become skilled. …
Urban transportation projects are massive public investments that can transform cities. This article reviews how they shape where people live and how they affect the rich and poor differently. …
Schelling (1956) first clarified how power to reduce one’s freedom of choice might benefit a bargaining party. A commitment to reject proposals, when successful, may force concessions from opponents …
We conduct a welfare analysis of R&D subsidies and tax credits using a model of innovation policy incorporating externalities, limited R&D participation and financial market imperfections. We …