Iván Werning

Massachusetts Institute of Technology (MIT) - Department of Economics

50 Memorial Drive

Room E52-251

Cambridge, MA 02142

United States

http://econ-www.mit.edu/faculty/iwerning

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Massachusetts Institute of Technology (MIT) - Department of Economics

    • Email
    • Tel: 617-452-3662
    • Fax: 617-253-1330

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

42

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SSRN CITATIONS
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766

CROSSREF CITATIONS

908

Scholarly Papers (42)

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1.

Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?

Downloads 593 ( 57,201)
Citation 149

Macroeconomic Implications of COVID-19: Can Negative Supply Shocks Cause Demand Shortages?

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2020-35
Number of pages: 37 Posted: 09 Apr 2020
Veronica Guerrieri, Guido Lorenzoni, Ludwig Straub and Iván Werning
University of Chicago - Booth School of Business, Northwestern University, Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 558 (61,013)
Citation 149

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Macroeconomic Implications of Covid-19: Can Negative Supply Shocks Cause Demand Shortages?

NBER Working Paper No. w26918
Number of pages: 37 Posted: 06 Apr 2020 Last Revised: 21 Jul 2021
Veronica Guerrieri, Guido Lorenzoni, Ludwig Straub and Iván Werning
University of Chicago - Booth School of Business, Northwestern University, Harvard University and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 35 (556,896)
Citation 30

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2.

Information Aggregation and Equilibrium Multiplicity: Morris-Shin Meets Grossman-Stiglitz

Number of pages: 31 Posted: 24 Mar 2004
George-Marios Angeletos and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 371 (100,586)
Citation 1

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Multiple equilibria, coordination, self-fulfilling expectations, speculative attacks, currency crises, bank runs, financial crashes, rational-expectations, global games.

3.

Commitment vs. Flexibility

Downloads 329 (115,028)
Citation 39

Commitment vs. Flexibility

Number of pages: 43 Posted: 30 Nov 2003
Manuel Amador, Iván Werning and George-Marios Angeletos
affiliation not provided to SSRN, Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 288 (131,909)

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Banking and credit, English Industrial Revolution, interest rate determination, credit rationing, technological change and learning.

Commitment vs. Flexibility

NBER Working Paper No. w10151
Number of pages: 46 Posted: 23 Dec 2003 Last Revised: 28 Sep 2010
Manuel Amador, Iván Werning and George-Marios Angeletos
affiliation not provided to SSRN, Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 41 (525,149)
Citation 7

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4.

Inequality, Social Discounting, and Estate Taxation

Downloads 287 (133,063)
Citation 1

Inequality, Social Discounting, and Estate Taxation

Number of pages: 42 Posted: 29 Apr 2005
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 247 (154,354)

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Inequality, Altruism, Private Information, Immiseration, Social Discounting, Optimal Taxation, Estate Taxes, Dynamic Programming

Inequality, Social Discounting and Estate Taxation

NBER Working Paper No. w11408
Number of pages: 43 Posted: 06 Jul 2005 Last Revised: 04 Sep 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 40 (530,236)

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5.

Crises and Prices: Information Aggregation, Multiplicity and Volatility

Downloads 214 (177,649)
Citation 104

Crises and Prices: Information Aggregation, Multiplicity and Volatility

Number of pages: 37 Posted: 14 Dec 2004
George-Marios Angeletos and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 177 (210,920)

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Multiple equilibria, coordination, global games, speculative attacks, currency crises, bank runs, financial crashes, rational expectations

Crises and Prices: Information Aggregation, Multiplicity and Volatility

NBER Working Paper No. w11015
Number of pages: 38 Posted: 28 Dec 2004 Last Revised: 08 Aug 2021
George-Marios Angeletos and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 37 (545,776)
Citation 11

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6.

Fiscal Unions

Downloads 212 (179,229)
Citation 32

Fiscal Unions

MIT Department of Economics Working Paper No. 12-20
Number of pages: 48 Posted: 09 Aug 2012
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 186 (201,839)
Citation 12

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Fiscal union, currency union, optimal currency a/rea, international insurance, fiscal and monetary policy, monetary union

Fiscal Unions

NBER Working Paper No. w18280
Number of pages: 132 Posted: 04 Aug 2012 Last Revised: 07 Feb 2021
Iván Werning and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 26 (613,320)
Citation 7

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7.

Capital Taxation: Quantitative Explorations of the Inverse Euler Equation

MIT Department of Economics Working Paper No. 06-15
Number of pages: 50 Posted: 15 May 2006 Last Revised: 03 May 2009
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 202 (187,476)
Citation 24

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Capital taxation, inverse Euler equation, constrained efficient, Chamley-Judds

8.

Liquidity and Insurance for the Unemployed

Downloads 191 (197,139)
Citation 53

Liquidity and Insurance for the Unemployed

MIT Department of Economics Working Paper No. 05-23, American Economic Review, Forthcoming
Number of pages: 28 Posted: 03 Nov 2005
Iván Werning and Robert Shimer
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Department of Economics
Downloads 155 (236,515)
Citation 13

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optimal unemployment insurance, consumption smoothing, duration of unemployment benefits, sequential search

NBER Working Paper No. w11689
Number of pages: 27 Posted: 16 Dec 2005 Last Revised: 15 Jun 2020
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 36 (551,275)
Citation 2

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Liquidity and Insurance for the Unemployed

Posted: 25 Jul 2008
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics

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Optimal Unemployment Insurance, Consumption Smoothing, Duration of Unemployment Benefits, Sequential Search

9.

Reservation Wages and Unemployment Insurance

Downloads 173 (214,971)
Citation 50

Reservation Wages and Unemployment Insurance

MIT Department of Economics Working Paper No. 06-16
Number of pages: 34 Posted: 15 May 2006
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 145 (249,979)
Citation 1

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unemployment insurance, social insurance, reservation wages, search

Reservation Wages and Unemployment Insurance

NBER Working Paper No. w12618
Number of pages: 43 Posted: 27 Oct 2006 Last Revised: 27 Jun 2010
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 28 (599,545)
Citation 5

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10.

Progressive Estate Taxation

Downloads 142 (253,361)
Citation 38

Progressive Estate Taxation

MIT Department of Economics Working Paper No. 06-27
Number of pages: 39 Posted: 21 Oct 2006
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 93 (344,609)

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progressivity, inheritance, estate taxation

Progressive Estate Taxation

NBER Working Paper No. w12600
Number of pages: 39 Posted: 20 Nov 2006 Last Revised: 07 Feb 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 49 (487,608)
Citation 11

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11.

Slow Moving Debt Crises

Downloads 134 (265,182)
Citation 20

Slow Moving Debt Crises

MIT Department of Economics Working Paper No. 13-18
Number of pages: 33 Posted: 27 Jul 2013
Guido Lorenzoni and Iván Werning
Northwestern University and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 119 (291,062)

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debt crises, multiplicity, self-fulfilling crisis, sovereign debt

Slow Moving Debt Crises

NBER Working Paper No. w19228
Number of pages: 34 Posted: 19 Jul 2013 Last Revised: 17 Jul 2021
Guido Lorenzoni and Iván Werning
Northwestern University and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 15 (697,588)
Citation 12

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12.

Fiscal Mulipliers: Liquidity Traps and Currency Unions

MIT Department of Economics Working Paper No. 12-23
Number of pages: 69 Posted: 07 Sep 2012
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 114 (298,378)

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13.

Optimal Targeted Lockdowns in a Multi-Group Sir Model

NBER Working Paper No. w27102
Number of pages: 57 Posted: 05 May 2020 Last Revised: 22 Jul 2021
Daron Acemoglu, Victor Chernozhukov, Iván Werning and Michael D. Whinston
Massachusetts Institute of Technology (MIT) - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Sloan School of Management and Department of Economics
Downloads 86 (358,871)
Citation 20

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14.

Optimal Savings Distortions with Recursive Preferences

Downloads 68 (410,188)
Citation 1

Optimal Savings Distortions with Recursive Preferences

MIT Department of Economics Working Paper No. 07-30
Number of pages: 35 Posted: 24 Dec 2007 Last Revised: 03 Jan 2008
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 44 (510,611)

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Optimal Savings Distortions with Recursive Preferences

NBER Working Paper No. w13720
Number of pages: 35 Posted: 11 Jan 2008 Last Revised: 28 Jun 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 24 (627,801)
Citation 1

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15.

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates

NBER Working Paper No. w18199
Number of pages: 95 Posted: 29 Jun 2012 Last Revised: 24 Sep 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 61 (433,683)
Citation 2

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16.

On the Optimal Timing of Benefits with Heterogeneous Workers And Human Capital Depreciation

MIT Department of Economics Working Paper No. 06-12
Number of pages: 31 Posted: 26 Apr 2006
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 61 (433,683)
Citation 4

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unemployment insurance, liquidity, search

17.

Mirrlees Meets Diamond-Mirrlees

Downloads 46 (491,653)
Citation 1

Mirrlees Meets Diamond-Mirrlees

NBER Working Paper No. w22076
Number of pages: 35 Posted: 14 Mar 2016 Last Revised: 28 Apr 2021
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 25 (620,417)
Citation 1

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Mirrlees Meets Diamond-Mirrlees

CESifo Working Paper Series No. 5830
Number of pages: 35 Posted: 21 Apr 2016
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 21 (650,242)

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Mirrlees Meets Diamond-Mirrlees

CEPR Discussion Paper No. DP11172
Number of pages: 36 Posted: 18 Apr 2016
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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18.

Comparative Advantage and Optimal Trade Policy

Downloads 43 (505,100)
Citation 74

Comparative Advantage and Optimal Trade Policy

NBER Working Paper No. w19689
Number of pages: 45 Posted: 10 Dec 2013 Last Revised: 19 Apr 2021
Arnaud Costinot, Dave Donaldson, Jonathan Vogel and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics, Massachusetts Institute of Technology (MIT), UCLA and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 42 (520,193)
Citation 14

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Comparative Advantage and Optimal Trade Policy

CEPR Discussion Paper No. DP9765
Number of pages: 47 Posted: 02 Dec 2013
Arnaud Costinot, Dave Donaldson, Jonathan Vogel and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics, Massachusetts Institute of Technology (MIT), UCLA and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 1 (824,115)
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Comparative Advantage, Ricardian Model, Trade Policy

19.

The Taxation of Superstars

Downloads 40 (519,046)
Citation 33

The Taxation of Superstars

CESifo Working Paper Series No. 5479
Number of pages: 67 Posted: 18 Sep 2015
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 27 (606,296)

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The Taxation of Superstars

NBER Working Paper No. w21323
Number of pages: 68 Posted: 27 Jul 2015 Last Revised: 07 Apr 2021
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 13 (714,310)
Citation 2

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The Taxation of Superstars

CEPR Discussion Paper No. DP10778
Number of pages: 69 Posted: 27 Aug 2015
Florian Scheuer and Iván Werning
Stanford University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 0
Citation 18
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Earnings Elasticities, Inequality, Optimal Taxation, Sufficient Statistics, Superstar Effects

20.

Managing a Liquidity Trap: Monetary and Fiscal Policy

NBER Working Paper No. w17344
Number of pages: 49 Posted: 29 Aug 2011
Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 39 (523,878)
Citation 4

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21.

The Lerner Symmetry Theorem: Generalizations and Qualifications

NBER Working Paper No. w23427
Number of pages: 15 Posted: 24 May 2017 Last Revised: 04 Jan 2021
Arnaud Costinot and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 36 (538,671)

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22.

A Theory of Macroprudential Policies in the Presence of Nominal Rigidities

NBER Working Paper No. w19313
Number of pages: 56 Posted: 10 Aug 2013 Last Revised: 10 Apr 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 32 (560,050)
Citation 73

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23.

On the Optimal Timing of Benefits with Heterogeneous Workers and Human Capital Depreciation

NBER Working Paper No. w12230
Number of pages: 34 Posted: 14 Jul 2006 Last Revised: 03 Jun 2021
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 29 (577,147)

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24.

Insurance and Taxation Over the Life Cycle

NBER Working Paper No. w16749
Number of pages: 54 Posted: 31 Jan 2011 Last Revised: 07 Feb 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 28 (583,246)
Citation 20

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25.

Monetary Policy, Bounded Rationality, and Incomplete Markets

NBER Working Paper No. w23281
Number of pages: 56 Posted: 27 Mar 2017 Last Revised: 13 Aug 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 27 (589,458)
Citation 43

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26.

Positive Long Run Capital Taxation: Chamley-Judd Revisited

NBER Working Paper No. w20441
Number of pages: 67 Posted: 02 Sep 2014 Last Revised: 18 Jun 2021
Ludwig Straub and Iván Werning
Massachusetts Institute of Technology (MIT), Department of Economics, Students and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 24 (609,142)
Citation 12

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27.

A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation

NBER Working Paper No. w17680
Number of pages: 42 Posted: 25 Dec 2011 Last Revised: 24 Apr 2021
Arnaud Costinot, Guido Lorenzoni and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics, Northwestern University and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 24 (609,142)
Citation 7

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28.

Micro to Macro: Optimal Trade Policy with Firm Heterogeneity

NBER Working Paper No. w21989
Number of pages: 61 Posted: 15 Feb 2016 Last Revised: 31 Jan 2021
Arnaud Costinot, Andrés Rodríguez-Clare and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics, University of California, Berkeley - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 19 (643,873)
Citation 6

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29.

Incomplete Markets and Aggregate Demand

NBER Working Paper No. w21448
Number of pages: 42 Posted: 18 Aug 2015 Last Revised: 09 Aug 2021
Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 18 (650,997)
Citation 2

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30.

Take the Short Route: Equilibrium Default and Debt Maturity

NBER Working Paper No. w22847
Number of pages: 45 Posted: 21 Nov 2016 Last Revised: 06 Jun 2021
Mark Aguiar, Manuel Amador, Hugo A. Hopenhayn and Iván Werning
Princeton University, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, University of California, Los Angeles (UCLA) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 17 (658,180)
Citation 27

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31.

Efficiency and Information Transmission in Bilateral Trading

NBER Working Paper No. w21495
Number of pages: 55 Posted: 25 Aug 2015 Last Revised: 27 Mar 2021
Robert Shimer and Iván Werning
University of Chicago - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 16 (665,334)
Citation 2

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32.

Fiscal Multipliers: Liquidity Traps and Currency Unions

NBER Working Paper No. w18381
Number of pages: 70 Posted: 15 Sep 2012 Last Revised: 23 Sep 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 16 (665,334)
Citation 20

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33.

Saving and Dissaving with Hyperbolic Discounting

NBER Working Paper No. w24257
Number of pages: 63 Posted: 29 Jan 2018 Last Revised: 12 Apr 2021
Dan Cao and Iván Werning
Georgetown University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 15 (672,868)

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34.

Estate Taxation with Altruism Heterogeneity

NBER Working Paper No. w18792
Number of pages: 27 Posted: 09 Feb 2013 Last Revised: 08 May 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 13 (688,146)
Citation 1

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35.

Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation

Downloads 12 (695,962)
Citation 5

Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation

NBER Working Paper No. w25103
Number of pages: 54 Posted: 01 Oct 2018 Last Revised: 05 Aug 2021
Arnaud Costinot and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 12 (722,865)
Citation 3

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Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation

CEPR Discussion Paper No. DP13209
Number of pages: 56 Posted: 02 Oct 2018
Arnaud Costinot and Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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36.

Labor Mobility within Currency Unions

NBER Working Paper No. w20105
Number of pages: 28 Posted: 14 May 2014 Last Revised: 09 Jun 2021
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 12 (695,962)
Citation 1

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37.

Dynamic Savings Choices with Disagreements

NBER Working Paper No. w22007
Number of pages: 102 Posted: 22 Feb 2016 Last Revised: 20 Aug 2021
Dan Cao and Iván Werning
Georgetown University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 10 (711,483)

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38.

Monetary Policy in Times of Structural Reallocation

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2021-111
Number of pages: 28 Posted: 17 Sep 2021
Veronica Guerrieri, Guido Lorenzoni, Ludwig Straub and Iván Werning
University of Chicago - Booth School of Business, Northwestern University, Harvard University and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 8 (727,284)

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Asymmetric Shocks, Reallocation, Monetary Policy

39.

Dynamic Oligopoly and Price Stickiness

NBER Working Paper No. w27536
Number of pages: 77 Posted: 24 Jul 2020
Olivier Wang and Iván Werning
New York University (NYU) - Department of Finance and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 3 (766,654)
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40.

Tax Smoothing with Redistribution

Posted: 25 Jul 2008
Iván Werning
Massachusetts Institute of Technology (MIT) - Department of Economics

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Optimal Taxation, Redistribution, Tax Smoothing, Debt Management, Capital Taxation, Time Inconsistency

41.

Inequality and Social Discounting

Journal of Political Economy, Vol. 115, No. 3, 2007
Posted: 20 Dec 2007
Emmanuel Farhi and Iván Werning
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics

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42.

The Equilibrium Distribution of Income and the Market for Status

Journal of Political Economy, Vol. 113, pp. 282-310, April 2005
Posted: 29 Mar 2005
Gary S. Becker, Kevin M. Murphy and Iván Werning
University of Chicago - Department of Economics, University of Chicago and Massachusetts Institute of Technology (MIT) - Department of Economics

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