Institutions can affect individual behavior both via their efficiency impact and via their risk reducing mechanisms … simultaneously extant institutions. This paper presents a simple model of institutional choice in a labor market when there is a risk …

between the three core labor force states, employment, unemployment, and inactivity. The dynamics of these transitions depend …The aggregate average unemployment rate in a given country is essentially the result of individual workers' transitions … factors to translate unobserved shocks to the labor market into observed cellspecific unemployment rates as well as bilateral …

institutions. Village capital is efficient for localized economies; market capital allows trade between strangers and greater …

words “institution” and “institutions” and the different levels at which the two notions are employed. Institutionalism …

associated with inequality adversely affected the emergence of institutions that promote human capital accumulation. The research …

from institutions, and to some extent, geography, on long-run prosperity and TFP, may be thus explained. …

distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …