Elsa, FORNERO; Agnese, ROMITI; Cristina, ROSSI - Luxembourg Institute of Socio-Economic Research … - 2013
Parents can adopt two strategies to take care about their children and their future life: they can invest in their human capital, or in real (and financial) wealth to bequeath to them. The optimal children’s endowment is assured in equilibrium by complete and perfect markets. However, in the...