In this paper we aim at providing a theoretical framework to model workers’ choice problem of switching between different pension schemes. This choice problem is common in several countries that have reformed their social security system in the last decades. Although with some specific...

Pension reforms are on the political agenda of many countries. Such reforms imply an increasing responsibility on individuals’ side in building an efficient portfolio for retirement. In this paper we provide a model describing workers’ choices on the allocation of retirement savings in...

Pension systems often entail some compulsory saving over which individuals have some degree of choice in terms of the pension plan in which to invest. Our contribution analyses whether the choice between alternative plans is affected by the presence of liquidity constraints during working life....

There is a consolidated empirical literature providing evidence of the fact that financial literacy, human capital, savings and stock market participation are interconnected decisions. However, to the best of our knowledge, a theoretical explanation of such connections is missing. In this paper...

We examine how unemployment schemes and liquidity constraints affect re-employment probabilities and unemployment duration. In particular we investigate to which extent those schemes, through employment services and search requirements, can offset the expected perverse effect of benefits on...

In this paper we analyse the effect of an Italian training program on the re-employment probability of young unemployed workers. The program consists solely of workplace training and is coordinated by employment centre, but it is fully implemented by firms. We develop a discrete duration...

In this paper we analyse a growth model where agents have different factors' endowments and form coalitions to produce output. Economic growth is the result of accumulation of human capital. The latter is a by-product of production activity within a coalition. The grand coalition corresponds to...

Italy's secondary school system has faced funding constraints for many years which limits availability of new permanent job slots for teachers. When permanent posts do arise they are allocated mostly on seniority while merit only plays a small role. Thus, the age distribution of teachers in...

In this paper, distinguishing between the choice of the worker and the choice of the firm, we provide a probabilistic evaluation of the transition from temporary to permanent employment in a regional context. Estimating a Multinomial Nested Logit Model, we found that the transition to a...