Labor market responses to trade liberalization typically exhibit a slow reallocation of labor across industries, large costs for displaced workers, and a disproportionate adjustment burden for older workers. To explain these features and analyze alternative policies, I develop a two-sector small open economy model with overlapping generations, frictional labor markets, and sector-specific human...

We present an efficiency model for data warehouse operations and analyze a data set to evaluate the model. The model contains salient variables to evaluate the efficiency of an organization’s data warehouse operations for refresh processing and query production. The variables in the model include resource consumption (labor usage and computing budgets), system usage measures (users and queries)...

In this paper we quantitatively investigate the boom and the bust of the Japanese economy during 1980–2000 using the business cycle accounting technique. This method helps us identify the distortion margins called ''wedges'' that played a significant role in accounting for the output fluctuations. Applying our model to Japan, we find that efficiency and investment wedges can almost wholly accou...

The economic literature shows that privatizing Social Security can improve labor supply incentives, but it can also reduce risk sharing when households face uninsurable risks. We simulate a stylized 50-percent privatization with transaction costs financed by consumption taxes and examined its impact on macroeconomic variables as well as on the welfare across generations and income classes. Our ...