This Paper discusses the role of public policy towards the venture capital industry. The model emphasises four margins: supply of entrepreneurs due to career choice, entry of venture capital funds and search for investment opportunities, simultaneous entrepreneurial effort and managerial advice...

In this paper we study the endogenous determination of minimum wage employing a political-economic game-theoretic approach. A major objective of the paper is to clarify the crucial role of the strength of the workers' union and of political culture on the determination of the minimum wage. In...

Income redistribution often takes highly inefficient forms, such as employment in the bureaucracy. We argue that this arises as an optimal political strategy in situations where politicians cannot commit to policies. Political exchanges between politicians and voters must be self-enforcing and...

The paper provides a synthesis of recent research relating to supply side policy in the 1930s in a period when government sought to raise prices given sticky wages. We argue that as a politically constrained strategy to limit rises in unemployment this made sense. A bargaining model approach...

Swedish wives' market earnings contribute 39% of the net family earnings of couples living together. German wives contribute 12%. This paper employs Swedish and German micro data on earnings and personal characteristics of couples. After tax earnings are simulated, under both the tax system of...

This paper explores implications of the fact that individuals know more than the authorities about their risk of infection and can take migration decisions before their health status is publicly observable. In a 2-period model we study under which conditions the presence of quarantine measures...

There is relatively little research on peer effects in teenage motherhood despite the fact that peer effects, and in particular social interaction within the family, is likely to be important. We estimate the impact of an elder sister’s teenage fertility on the teenage childbearing of their...

The gender wage gap varies widely across countries and across skill groups within countries. Interestingly, there is a positive cross-country correlation between the unskilled-to-skilled gender wage gap and the corresponding gap in hours worked. Based on a canonical supply and demand framework,...