Robert M Townsend,Kenichi Ueda Robert M Townsend

Financial liberalization has been a controversial issue, as empirical evidence for growth enhancing effects is mixed. Here, we find sizable welfare gains from liberalization (cost to repression), though the gain in economic growth is ambigu...

Christopher L House,John Laitner,Dmitriy Stolyarov Christopher L House

Using a life-cycle model in which women divide their time between home and market work, we establish a link between retirement wealth and the value of forgone home production. We use data from the Health and Retirement Study to estimate the...