THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Generalizing the Causal Effect of Fertility on Female Labor Supply

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Financial Dependence, Stock Market Liberalizations, and Growth

Stock market liberalizations provide a natural experiment to test for the causal relation between financial development and economic growth. We test this relation by investigating whether liberalizations facilitate growth through the particular mechanism of reducing capital market imperfections that drive a wedge between the external and internal cost of capital to firms. Using panel data on a ...

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Formation of social capital in Central and Eastern Europe: Understanding the gap vis-à-vis developed countries

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Labor Market Institutions and Restructuring: Evidence from Regulated and Unregulated Labor Markets in Brazil

This paper compares patterns of hiring and separations in regulated and unregulated labor markets over the last two decades in Brazil, with an eye toward gauging the effects of employment protection on employment adjustment over the business cycle. Since the difference between the sectors is stark and well-defined, the consequences of employment protection on flows through the labor market are ...

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Human Capital, Growth and Inequality in Transition Economies

Transition economies have an initial condition of high human capital relative to living standards. I explore the possible implications of this key fact by surveying and adapting literature on growth and inequality. I focus especially on the long run and policy options.

THE WILLIAM DAVIDSON INSTITUTE AT THE UNIVERSITY OF MICHIGAN BUSINESS SCHOOL Duration and Risk of Unemployment in Argentina

After a decade of structural reforms, unemployment rates have tripled in Argentina. This paper is concerned with the measurement of unemployment risk and its distribution. We show the importance of considering re-incidence in the measurement of unemployment risk and develop a methodology to do that. Our estimates for Argentina show that, though the typical unemployment spell is short, once re-i...