The paper aims to explicitly determine the distribution of human capital across hierarchic educational stages along the transition process, and to analyse the determinants of its evolution. We apply optimal control principles in a model of endogenous growth with two successive stages of...

This paper provides an answer to the question of whether Europe will be able to reach its tertiary education target by 2020. Insights into the dynamics of future education attainment and areas for effective policy interventions in the long-run are highlighted. We model the dynamics behind...

This paper presents a simple model to examine the implication of credit market imperfections when considering the massive variation of agricultural labor productivity across countries. The development of credit markets enables more agents to acquire skills to work in non-agricultural sectors....

In this paper, we integrate the retirement deadline taking into account both labor demand and labor supply specificities. This approach reveals that firms' employment decisions play an active role in the early retirement decision. We show that, in a walrasian economy, social security reforms...

A PAYGO system may serve as insurance against not having children and as an enforcement device for ungrateful children who are unwilling to pay their parents a pension. In fact, the latter was Bismarck’s historic motive for introducing this system. It is true that the PAYGO system reduces the...

This study examines the link between government spending and economic growth in Nigeria over the last three decades (1977-2006) using time series data to analyze the Ram (1986) model. Three variants of Ram (1986) model were developed-regressing Real GDP on Private investment, Human capital...

We study the transmission of knowledge arising from working relationships established by inventors, and its impact on firms’ innovation production. The study’s contribution to the literature is twofold. First, we consider those relationships that originate through inventor connections...

Universities are increasingly recognized as key driver of economic development through their role in knowledge production and human capital accumulation, and as attraction poles for talents. That is why this paper analyses the sequential migration behaviour of Italian students-graduates before...

This paper analyses the determinants of on-the-job search activities of Italian workers. Using several waves of the Bank of Italy Survey on Household Income and Wealth (SHIW) we estimate with a Probit model how individual socio demographic characteristics and economic variables affect the...

The globalisation and the intensive economic and social integration incredibly activate people’s mobility. Bulgaria has been facing migration problems with the political, economical and social transformation since 1990, which completely changed the labour mobility environment. As a result,...