In this paper, I discuss the reasons for Costa Rica's economic performance over the last quarter of a century. Three complementary sets of policies (investments in human capital, careful stabilization, and an intelligent and aggressive integration into the world economy) explain the successful...

The empirical literature addressing links between the labor and the marriage markets is numerous and varied. Despite this, the theoretical (equilibrium) literature that explicitly links the two markets is less developed, particularly so with frictional markets. We build an equilibrium search...

This paper explores the development of public sector capabilities for Productive Development Policies in Costa Rica through four case studies of successful experiences, with less successful cases presented as counterfactuals. To some extent the paper tests the Technical, Organizational and...

This paper summarizes the findings of the recent Inter-American Development Bank book Two to Tango: Public-Private Collaboration Productive Development Policies, based on case studies of 25 productive development policies (PDPs) in five countries and discusses an additional example from Peru....

In this paper we show that interest rate rules lead to multiple equilibria when the central bank faces a limit to its ability to print money, or when private agents are limited in the amount of bonds that can be pledged to the central bank in exchange for money. Some of the equilibria are...

This paper examines the set of Pareto efficient allocations in a finite period Mirrlees (1971, 1976) economy; each period represents a lifetime for an agent who cares about the utility of his descendants. In making Pareto comparisons, we use an interim concept of efficiency, and consider an...