Vassar Scholarship

On view in the Vassar College Main Library, the Art Library, and the Frances Lehman Loeb Art Center from September 6-December 15, 2012. 2012 marked the 75th birthday of Werner Pfeiffer, an artist who for half a century has worked...

It is commonly believed that firms prefer layoffs to worksharing, in part, because layoffs economize on fringe benefit costs. We find that when labor markets are characterized by optimal implicit contracts, layoffs will never occur in equilibrium, regardless of the...

The traditional classroom presentation of international macroeconomic issues obscures the link between budget deficits, exchange rates, and the trade deficit. The article offers a simple supply and demand framework to clarify the role of budget deficits in creating trade deficits...

Implicit contract models of labor market equilibrium under work sharing and layoffs are constructed to examine several common explanations for the observed market bias in favor of layoffs. We first establish the optimality of work sharing in the absence of...

An Exhibition in the Vassar College Art Library October 23-December 15, 2023

This paper analyzes the magnitude of earnings differentials and differences in the rates of return to education for individuals who attended private and public high schools in the U.S. from 1976 to 1983, controlling for self-selection into school sector, as...

This lecture presents the architectural program of the Frederick Thompson Memorial Library at Vassar College as the instantiation of the introduction of the concept of research into American undergraduate education by early Vassar faculty who were invested in the direct...

An exhibition commemorating the centennial anniversary of the opening of the Alumnae House at Vassar College.

Vassar College Art Library

May 27 - July 26, 2024

More than 100 savings and loans are currently involved in supervisory goodwill litigation against the federal government, with total claims approach fifty billion dollars. These claims arise from a provision in the 1989 Financial Institutions Reform Recovery and Enforcement Act...

This paper develops a model of private school choice that incorporates measures of the availability and costs of private schooling, as well as the quality of existing public schools, in the local market for secondary education. Using data from the...

This paper develops a model of private school choice that incorporates measures of the availability and costs of private schooling, as well as the quality of existing public schools, in the local market for secondary education. Using data from the...

Using a unique set of publicly-traded litigation certificates, we measure the wealth effects of (largely) unanticipated damage awards in the ongoing supervisory goodwill litigation between thrifts and the federal government. Estimating abnormal returns for portfolios of litigation certificates and retained...