Balasubramanian Ravikumar

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Government policies that impose restrictions on the size of large establishments or firms, or promote small ones, are widespread across countries. In this paper, we develop a framework to systematically study policies of this class. We study a simple growth model with an endogenous size distribution of production units. We parameterize this model to account(More)
The striking growth in the trade share of output is one of the most important developments in the world economy since World War II. Two features of this growth present challenges to the standard trade models. First, the growth is generally thought to have been generated by falling tariff barriers worldwide. But tariff barriers have decreased by only about(More)
A leading explanation of aggregate stock market behavior suggests that assets are priced as if there were a representative investor whose utility is a power function of the difference between aggregate consumption and a “habitÔ level, where the habit is some function of lagged and (possibly) contemporaneous consumption. But theory does not provide precise(More)
We examine the impact of incomplete risk-sharing on growth and welfare. The source of market incompleteness in our economy is private information: a household’s idiosyncratic productivity shock is not observable by others. Risk-sharing between households occurs through long-term contracts with intermediaries. We ...nd that incomplete risk-sharing tends to(More)
This paper explores the hypothesis that gender wage differentials arise from the interaction between the intra-household allocation of labor and the contractual relation between firms and workers in the presence of private information on workers’ labor market attachment. In our model, households efficiently choose the contribution of each spouse to home(More)
This paper develops a quantitative theoretical model for the optimal provision of public capital. We show that the ratio of public to private capital in the U.S. economy from 1925 to 1992 evolves in a manner that is generally consistent with an optimal transition path derived from the model. The model is also used to quantify the conditions under which an(More)
The 1990’s witnessed a historically unprecedented number of personal bankruptcy ...lings. In response, Congressional debate over bankruptcy law has recently led to sev­ eral proposals aimed at making it more di¢cult to exempt wealth in a bankruptcy. In this paper, I evaluate uniform exemption policy primarily within the context of the recent congressional(More)
I investigate the effect of Affirmative Action in higher education on both study effort choice and college placement outcomes for high school students. I model college admissions as a Bayesian game where heterogeneous students compete for seats at colleges and universities of varying prestige. There is an allocation mechanism mapping each student’s achieved(More)
We study a structural model of college admissions framed as a contest between a continuum of students for enrollment in a continuum of colleges where the contest outcome is decided by the students’ choice of human capital (HC). Students have private information about their learning costs, and colleges have heterogeneous, observable qualities. Our(More)
College-educated workers entering the labor market in 1940 experienced a 4-fold increase in their labor earnings between the ages of 25 and 55; in contrast, the increase was 2.6-fold for those entering the market in 1980. For workers without a college education these figures are 3.6-fold and 1.5-fold, respectively. Why are earnings profiles flatter for(More)