Development projects often involve assembly land from a variety of different owners to form a large continguous plot. Such aggregation makes it possible to operate the project on a large scale, which can confer efficiency benefits. However, the aggregation process can simultaneously raise issues. On the one hand, small landowners may try hold-out strategies, with the aim of extracting the full ...

We study the design of parental leave systems through lens an estimated model parents’ joint willingness to pay for leave. estimate using Danish register data on almost 200,000 births combined with sharp variation in economic incentives created by benefit system. The reproduces empirical distribution leave, including bunching at kinks household budget sets and a large share fathers taking littl...

In this paper we consider a firm that employs heterogeneous workers to meet demand for its product or service. Workers differ in their skills, speed, and/or quality, and they randomly leave, or turn over. Each period the firm must decide how many workers of each type to hire or fire in order to meet randomly changing demand forecasts at minimal expense. When the number of workers of each type c...

Three years ago at this same conference, I was given an opportunity to talk about Japan’s monetary policy in the years when asset price bubbles expanded.1 Today, I would like mainly to review monetary policy in the following phase when the bubbles burst, for an asset price swing is the “changing economic environment” most relevant to us. Incidentally, we are now in the third phase when the econ...

Family policy is aimed at neutralising, or at least lessening, the negative impact of psychological, social and economic constraints for forming families and having the desired/greater number of children. Financial and other family policy measures reconcile the objectives of strengthening families, offering equal opportunities to men and women, and increasing the well-being of individuals and f...

This paper demonstrates how time consistency of the Ramsey policy— the optimal …scal and monetary policy under commitment— can be achieved. Each government should leave its successor with a unique maturity structure for the nominal and indexed debt, such that the marginal bene…t of a surprise in‡ation exactly balances the marginal cost. Unlike in earlier papers on the topic, the result holds fo...

This article analyzes the impact on fertility of changes in national expenditure for family allowances, maternity- and parental-leave benefits, and childcare subsidies. To do so, I estimate a model for the timing of births using individual-level data from 16 western European countries, supplemented with data on national social expenditure for different family policy programs. The latter allow a...

A Ciphertext-Policy Attribute-Based Proxy Re-Encryption (CP-ABPRE) employs the PRE technology in the attribute-based encryption cryptographic setting, in which the proxy is allowed to convert an encryption under an access policy to another encryption under a new access policy. CP-ABPRE is applicable to many real world applications, such as network data sharing. The existing CP-ABPRE systems, ho...

HISTORY OF EMPLOYMENT University of Maryland Associate Professor, School of Public Policy (2012–)* Assistant Professor, School of Public Policy (2008–12) White House Council on Env. Quality Dep. Assoc. Director for Energy & Climate Change (2014-16) Pacific Northwest National Laboratory Associate Director, Joint Global Change Rsch. Inst (2008–)* Georgetown University Assistant Professor, School ...