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We revisit the role of human capital in explaining the cross-country variation in GDP. We propose a general-equilibrium model in which workers of different ...

We document systematic differences in macroeconomic expectations across U.S. households and rationalize our findings with a theory of information choice. We ...

This paper reconsiders the problem of a durable-good monopolist who cannot make intertemporal commitments. The buyer’s valuation is binary and his private ...