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This paper studies how college admissions preferences for low income students affect intergenerational earnings mobility. We develop a quantitative model of ...

When agents’ information is imperfect and dispersed, existing measures of macroeconomic uncertainty based on the forecast error variance have two distinct ...

In 2004, 75 million people across 10 countries joined the European Union (EU). Over the subsequent 15 years, their GDP per capita has almost doubled. Using a ...

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This paper analyzes the pass-through of inflation expectations into the prices and wages set by firms. We conduct a survey of firms using a tailored ...

To study the role of uncertainty and learning in selection into entrepreneurship at various life stages, we develop a quantitative model of occupational choice ...

When explaining the declining labor income share in advanced economies, the macro literature finds that the elasticity of substitution between capital and ...

We study the role of financial frictions in determining the allocation of investment and innovation. Empirically, we find that established firms are ...