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Educational choice, rural–urban migration and economic development
We develop an overlap**-generations framework of education-based migration that takes place prior to labor-market participation and explore its role for economic development, urbanization and workforce compo...
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Illegal immigration in a heterogeneous labor market
This paper examines the effects of illegal immigration in a neoclassical growth model with two groups of workers, skilled and unskilled. We show that although illegal immigration is a boon to a country as a wh...
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Optimal Intervention Policies for a Small Monetary Economy
We analyze the gains from trade for a small cash-in-advance economy with endogenous labor supply and learning-by-doing in the accumulation of human capital. Contrary to previous findings, we show that free tra...
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Investment, interest rate rules, and equilibrium determinacy
By adding endogenous investment to a flexible-price, money-in-the-utility-function model, this paper studies the role that physical capital plays in stabilizing the real side of the economy when the monetary a...
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Government financing in an endogenous growth model with financial market restrictions
In this paper, we develop an endogenous growth model with market regulations on explicitly modeled financial intermediaries to examine the effects of alternative government financing schemes on growth, inflat...
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Urban unemployment and optimal trade policy in a cash-in-advance economy
This paper examines the welfare effects of commercial and tax/subsidy policies on a develo** economy with sectoral unemployment and differential cash-in-advance constraints. The optimal tariff can be negativ...
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A simple endogenous growth model with endogenous fertility: Indeterminacy and uniqueness
This paper studies the equilibrium dynamics and indeterminacy of equilibria in an endogenous growth model with endogenous fertility choice. We characterize the conditions that give rise to an unique equilibri...
