Cognitive and socioemotional skills and wages: the role of latent abilities on the gender wage gap in Peru

Review of Economics of the Household - The literature provides evidence on the positive connection between cognitive test scores and higher wages. Fewer and newer studies have explored the...     

Collateral Avoids Ponzi Schemes in Incomplete Markets

Without introducing either debt constraints or transversality conditions to avoid the possibility of Ponzi schemes, we show the existence of equilibrium in an infinite horizon incomplete markets economy with a collateral structure.