This essay analyzes the economic causes and effects of household decisions concerning fertility, education and child labor when children can supplement family income early in life and must support their parents in old age as adults. Parents, who raise and educate children for both financial and...

Loss of a parent is one of the most traumatic events a child can face. If loss of a parent reduces investments in children, it can also have long-lasting implications. This study uses parametric and semi-nonparametric matching techniques to estimate how one human capital investment, school...

The impact of ethnic diversity on the provision of local public goods and collective action in Africa remains largely unexplored. To address this gap, this paper explores the relationship between ethnic diversity and local primary school funding in rural western Kenya. The econometric...

Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past...

This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and algebraic formula for a large economy analogous to the ideal gas law of thermodynamics is proposed. It may be...

Views of the future China vary widely. While some believe that the collapse of China is inevitable, others see the emergence of a new superpower that increasingly poses a threat to the U.S. This paper examines the economic growth prospects of China over the next two decades. Extrapolating past...

A characteristic of many bargaining situations is that the negotiators represents the interests of a set of parties (trade unions, political parties, etc.) with composite interests, whose bargaining behaviour is regulated by some collective decision mechanism. In this paper we provide a natural...

We develop a model of exploitative child labor with two key features: first, parents have imperfect information about whether employment opportunities available to their children are exploitative or not. Second, firms choose whether or not to exploit their child workers. In our model, a ban on...

The paper uses the 1992 household survey for Bulgaria to show poor revenue performance of the income tax structure prevailing in 1992, which did not take into account the underlying distribution of income. The paper shows that Bulgaria can benefit from a much lower and simpler income tax rate...

The share of wages in organised Indian industry declined considerably between 1973 and 1997. The end to end drop was 19 per cent, and the wage share fell from 51.7 per cent to 32.8 per cent. In proportionate terms, the decline in wage share was between 30-40 per cent. The period of analysis...