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"Human capital is typically viewed as generating a number of desirable outcomes, including economic growth. Yet, in spite of its importance, few empirical studies have explored why some economies accumulate more human capital than others. This paper attempts to do so using a sample of more than...
Persistent link: https://www.econbiz.de/10003115155
"One of the most robust findings emerging from studies of industrial agglomeration is the rise in productivity that tends to accompany it. What most studies have not addressed, however, is the potential role played by human capital externalities in driving this relationship. This paper seeks to...
Persistent link: https://www.econbiz.de/10002977385
"This paper demonstrates that levels of entrepreneurship can be greatly affected by the general policy environment …. Using a state-level panel, we estimate the effects of several policy variables on rates of entrepreneurship and find that … bankruptcy exemptions, corporate tax rates, and the level of the minimum wage all affect a state's rate of entrepreneurship. For …
Persistent link: https://www.econbiz.de/10003115154
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"This paper studies strategic asset allocation and consumption choice in the presence of regime switching in asset returns. We find evidence that four separate regimes - characterized as crash, slow growth, bull and recovery states - are required to capture the joint distribution of stock and...
Persistent link: https://www.econbiz.de/10002917579