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Adjustment Costs in Factor Demand
This study discusses the nature of adjustment costs, which underpin the dynamic theory of input demand. We examine the implications of the conventional assumption that they are quadratic-symmetric. A
An Economic Theory of Suicide
Although sociologists have developed and tested numerous theories about suicide, economists have not analyzed this phenomenon. We derive an economic theory of suicide and test its implications using:
Expectations, Life Expectancy, and Economic Behavior
Unlike price expectations, which are central to macroeconomic theory and have been examined extensively using survey data, formation of individuals' horizons, which are central to the theory of
Labor Demand and the Structure of Adjustment Costs
This study examines the nature of the costs that firms face in adjusting labor demand in response to shocks induced by changes in output demand and prices. Empirical work on monthly plant-level
Sleep and the Allocation of Time
Using aggregated data for 12 countries, a cross section of microeconomic data, and a panel of households, we demonstrate that increases in time in the labor market reduce sleep. Our theory of the
Beauty and the Labor Market
We develop a theory of sorting across occupations based on looks and derive its implications for testing for the source of earnings differentials related to looks. These differentials are examined
Beauty Pays: Why Attractive People Are More Successful
Most of us know there is a payoff to looking good, and in the quest for beauty we spend countless hours and billions of dollars on personal grooming, cosmetics, and plastic surgery. But how much
Beauty, Productivity, and Discrimination: Lawyers' Looks and Lucre
We propose models with an ascriptive characteristic generating earnings differentials and causing sectoral sorting, allowing us to distinguish among sources producing such differentials. We use
Six Decades of Top Economics Publishing: Who and How?
Presenting data on all full-length articles published in the three top general economics journals for one year in each of the 1960s through 2010s, I analyze how patterns of co-authorship, age