This is a theoretical study of human-capital accumulation, where parental, as well as public investments are essential. Policy influence rich and poor parents differently when they make educational decisions. Rich parents allocate resources efficiently between physical bequests and educational...

A new Swedish dataset is used to examine the relationships between education, experience and earnings. We focus on four issues, namely (i) the determinants of starting salaries, (ii) the relationship between post-school-investment in human capital and wage growth, (iii) the determinants of...

This appendix of our paper, "Demographic Change, Human Capital and Welfare", contains further material that could not be included in the paper due to space limitations. It is organized as follows. Section A contains the formal equilibrium definition. Section B provides more results on the fit of...

The issue of lowering or restructuring payroll taxes in order to relieve the situation for the unemployed, and in particular unskilled workers, is a topical question on the political agenda across the European countries. This paper examines the potential effects of altered payroll taxes on...

Standard international real business cycle models are generally unable to replicate the observed comovements of all the main aggregate variables: in particular, they generate low or negative international comovements in output, investment, and labour. I simulated a two-country, two-sector...

In empirical studies the finding of procyclical average labour productivity is common. Two possible explanations to these results have been suggested in the literature: (1) labour hoarding/labour utilization, and (2) the Real Business Cycle productivity/technology shock explanation. This study...