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In an earlier paper, we showed that integrated individual accounts, allowing individuals to borrow against future pensions when they are unemployed, can be welfare increasing, because it allows increased inter-temporal consumption smoothing without attenuating incentives to search. Here, we...
Persistent link: https://www.econbiz.de/10013081509
This paper analyzes a social insurance system that integrates unemployment insurance with a pension program through an individual account, allowing workers to borrow against their future wage income to finance consumption during an unemployment episode and thus improving their search incentives...
Persistent link: https://www.econbiz.de/10013246361
This paper is an exercise in comparative institutional analysis, asking what kinds of arrangements most facilitate innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may be particularly conducive to innovation, and...
Persistent link: https://www.econbiz.de/10013047034
It concludes by constructing a simple model in which knowledge flows slowly across national borders but moves easily within borders. We show there is a leadership-followership equilibrium, in which some countries are leaders, others are followers. Contrary to Solow's analysis, there need not be...
Persistent link: https://www.econbiz.de/10012458174
financial institutions (IFIs). For multilateral development banks like the World Bank, their central mission, the promotion of … growth and the reduction of poverty, is clear. The steps toward fulfilling this mission in a changing world are also … our thinking both on why we have IFIs in the first place, and the role that they should play in a changing world. …
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simplistic models arguing for financial integration typically employed in economics assume convexity; but the world is rife with …
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simplistic models arguing for financial integration typically employed in economics assume convexity; but the world is rife with …
Persistent link: https://www.econbiz.de/10012462933
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