Yena Park

Automatic item generation (AIG) has the potential to greatly expand the number of items for educational assessments, while simultaneously allowing for a more construct-driven approach to item development. However, the traditional item modeling approach in AIG is limited in scope to content areas that are relatively easy to model (such as math problems), and depends on highly skilled content experts to create each model. In this paper we describe the interactive reading task, a transformer-based

This article studies optimal Ramsey taxation when risk sharing in private insurance markets is imperfect due to limited enforcement. In a limited commitment economy, there are externalities associated with capital and labour because individuals do not take into account that their labour and saving decisions affect aggregate labour and capital supply and wages, and thus the value of autarky. Therefore, a Ramsey government has an additional goal, which is to internalize these externalities of labo

This paper investigates whether capital and human capital are over-accumulated in an incomplete market economy. As in Dávila et al. (2012), whether capital is over-accumulated depends on how the pecuniary externalities affect insurance and redistribution. In a human capital economy, however, not only capital but also human capital generates externalities and an additional channel arises that has implications for the overaccumulation (under-accumulation) of capital (human capital). The income sou

Abstract We derive a fully non-linear optimal income tax schedule in the presence of private insurance. We fill the gap in the literature by studying the optimal tax formula with a comprehensive structure of the private markets—including incomplete markets models—both theoretically and quantitatively. As in the standard taxation literature without private insurance, the optimal tax formula can still be expressed in terms of standard sufficient statistics. With private insurance, however, the for

Introduction: Assessments of interactional competence have traditionally been limited in large-scale language assessments. The listening portion suffers from construct underrepresentation, whereas the speaking portion suffers from limited task formats such as in-person interviews or role plays. Human-delivered tasks are challenging to administer at large scales, while automated assessments are typically very narrow in their assessment of the construct because they have carried over the limitatio

Code files for Optimal Taxation with Private Insurance

Code files for "Optimal Taxation with Private Insurance," Review of Economic Studies (forthcoming)

This paper revisits the question whether capital in a competitive equilibrium is overaccumulated from the perspective of the social planner in an incomplete market economy with risky human capital accumulation. As in Dávila, Hong, Krusell and Ríos-Rull (2012), we consider a constrained social planner who cannot complete markets, but can improve welfare by only internalizing how individual allocations affect prices. In a standard incomplete market economy with exogenous labor income shocks, Dávil

As concerns regarding water pollution grow, the need increases for a fast and accurate assessment of ecological risk. In this context, many studies have been conducted to identify biomarkers which can sensitively indicate exposure to and effects of various contaminants in a water environment. However, the utility of most such biomarkers in the real water environment is not yet validated. In this paper, we conducted a thorough review of publications that were related to developing or evaluating m

We study how to jointly design the optimal tax system on the inherited wealth and the retirement savings in an economy where the motives for the retirement savings and the bequests are overlapping. If the retirement savings can serve for both a precautionary saving against the uncertain life cycle and a bequest to the children, the optimal tax system should consider the interaction of the two functions. When the parents are heterogeneous in their earning ability, mortality, and altruism, the cor

Abstract We analyse efficient risk-sharing arrangements when the value from deviating is determined endogenously by another risk-sharing arrangement. Coalitions form to insure against idiosyncratic income risk. Self-enforcing contracts for both the original coalition and any coalition formed (joined) after deviations rely on a belief in future cooperation which we term “trust”. We treat the contracting conditions of original and deviation coalitions symmetrically and show that higher trust tight