Using a matched employer-employee dataset on the French manufacturing sector in the 1990s, we investigate how training incidence responds to technical and organizational changes. Using a difference-in-difference approach across age groups and types of firms, we find that older workers in...

The aim of this paper is to characterize the one-dimensional stochastic differential equations, for which the eigenfunctions of the infinitesimal generator are polynomials in y. Affine transformations of the Ornstein-Uhlenbeck process, the Cox-Ingersoll-Ross process and the Jacobi process belong...

This paper compares the properties of funded and pay-as-you-go pension systems in a growth model with two overlapping generations and two classes. We discuss the impact of funding on capital formation, the optimal shares of the two systems according to the population growth rate and the...