This paper documents the lifetime costs on individual accounts and investment plans for a typical worker in Iceland using typical wage profiles and information on current charges obtained from the providers. The charge ratios calculated imply that costs at a current cost basis on individual...

This paper introduces state-owned enterprises into an endogenous-growth model with an expanding variety of inputs. It shows that, if state firms are less efficient than private firms in organizing labour and also in adopting new technology, the rate of innovation and, hence, also the rate of...

Globalization is much debated, but is it possible to make reliable ranks of which countries are the most integrated internationally? Traditionally resort is taken to trade measures, but even considering only economic integration this measure disregards a number of aspects. This paper proposes a...

This paper diagnoses the symptoms of the Dutch disease in a two-sector stochastic endogenous growth model. A productive, low skill-intensive primary sector causes the currency to appreciate in real terms, thus hampering the development of a high skill-intensive secondary sector and thereby...