In the presence of imperfect information and uncertainty, altruistic parents might use intergenerational transfers strategically to elicit effort from their children. As a result, gift and bequests are less reactive to the income realizations of the children than the standard altruistic model of...

"Over the past two decades, globalization, and more specifically the increased exposure to competition from low-price producers in China and India, has created a new economic environment for other emerging economies. The most advantageous way for manufacturing firms in those economies to...