In this paper we develop a quantitative model of entrepreneurial activity (risk-taking) and consumer bankruptcy choices and use the model to study the effects of bankruptcy regulations on entrepreneurial activity, bankruptcy rate and welfare. We show that eliminating bankruptcy exemptions leads...

We find that over the period 1950-1990, states in United States absorbed increases in the supply of schooling due to tighter compulsory schooling and child labor laws mostly through within-industry increases in the schooling intensity of production. Shifts in the industry composition towards...

We find that over the period 1950-1990, US states absorbed increases in the supply of schooling due to tighter compulsory schooling and child labor laws mostly through within-industry increases in the schooling intensity of production. Shifts in the industry composition towards more...

Much unease, distrust and criticism is being expressed in the current debate about the potential power of multinational corporations and the possibilities of abuse. What is the basis for the power of the multinationals, and what possibilities are available for controlling and limiting that power?

The UN Commission on Transnational Corporations which was appointed by ECOSOC will have its next meeting in May. An Intergovernmental Working Group will have held ten sessions by then and present a draft Code of Conduct dealing with transnational corporations. (For a review of the state of...