The authors provide a theoretical framework to model the workers' choice problem of opting among different pension schemes, a choice problem that is common to several countries that have reformed their social security system in the last decades. This process is currently affecting private sector...

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. We analyse whether the choice between alternative plans is affected by the presence of liquidity constraints during working life and we prove...

Purpose: Youth unemployment is one of the major problems that the economic systems face. Given this issue, the purpose of this paper is to assess whether school-to-work transition is easier for individuals with secondary vocational education compared to general secondary education. The authors...

We examine how unemployment schemes and liquidity constraints affect re-employment probabilities trying to assess whether these schemes, through employment services and search requirements, can offset the perverse effect of benefits on unemployment duration. Similarly, given that liquidity...

Purpose – This paper investigates whether the effect of unemployment benefits (UB) on unemployment duration is the same for individuals belonging to different wealth groups. Design/methodology/approach – Using a sample of newly unemployed individuals from Italy in 2007, we perform...