This is a theoretical study of human-capital formation, where parental, as well as public investments are essential. Policy influence rich and poor parents differently when they make educational decisions. Rich parents allocate resources efficiently between physical bequests and educational...

The objective of this paper is to model and estimate the impact of labour training financed by the firm on labour demand in Belgium, introducing training potential productivity and cost effects. To model this influence, we assume profit maximizing firms producing under a short run monopolistic...

This paper studies willingness to become an entrepreneur depending on an individual’s composition of human and social capital. Our theoretical analysis is an extension of Lazear’s (2005) jack-of-all-trades theory. Our primary implication is that it is not individuals with a higher level of...

Two alternative models of parental investments in children's human capital are considered and tested empirically using the Indonesian Family Life Survey (IFLS). The pure loan model and the reciprocity with two-sided altruism model yield different predictions about the effect of children's...

We use a long panel data set for four cohorts of male blue-collar workers entering into an internal labor market to analyze the effect of age on the probability of participating in different employer-financed training measures. We find that training participation probabilities are inverted...

This paper examines whether individuals who become either entrepreneurs or employees follow systematically different educational paths to a given educational level. Following Lazear’s jack-of-all-trades theory, we expect that entrepreneurs aim at a balanced set of different skills (academic or...

We evaluate the effects of employer-provided formal training on employee suggestions for productivity improvements and on promotions among male blue-collar workers. More than twenty years of personnel data of four entry cohorts in a German company allow us to address issues such as unobserved...

The years following the Second World War were those of the greatest economic growth that Europe had ever seen. If the countries of the Iberian Peninsula, neutral in the conflict and ruled by dictatorial regimes, enjoyed that growth and had participated in the convergence phenomenon, Ireland,...

The years following the Second World War were those of the greatest economic growth that Europe had ever seen. If the countries of the Iberian Peninsula, neutral in the conflict and ruled by dictatorial regimes, enjoyed that growth and had participated in the convergence phenomenon, Ireland,...