In the early 1960s, we used the few antiarrhythmic drugs available empirically, presuming that every premature ventricular contraction had to be suppressed. This presumption spurred ever greater effort, much of it going into antiarrhythmic drug development.' Throughout the 1980s, one new drug was being developed about every six months,2 and the number of antiarrhythmic prescriptions rose expone...

Increasing integration of economic activities enforces large scale reallocations of labor between firms. This reallocation pressure requires necessarily an increase in the separation rate of jobs. While new jobs are created, reallocation can not achieved instantaneously if labor markets are characterized by frictions. I introduce hiring costs in a Melitz type model of international trade with n...

Borjas, Problem 4­4 This question asks how the wages of (presumably high‐skilled) natives should change when there is a change in the quantity of available low‐skilled (immigrant) labor assuming that natives and immigrants are complements. Whenever two factors of production are complementary, an increase in one increases the returns to another. So in this case, the llegal alien hiring penaltie...

This paper explores how high school graduate men and women vary in their behavioral responses to beginning labor market entry during a recession. In contrast with previous related literature that found a substantial negative wage impact but minimal employment impact in samples of highly educated men, the empirical evidence presented here suggests a different outcome for the less well educated, ...