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This paper analyses the effects of disease and war on the accumulation of human and physical capital. We employ an overlapping-generations frame-work in which young adults, confronted with such hazards and motivated by old-age provision and altruism, make decisions about investments in schooling...
Persistent link: https://www.econbiz.de/10012861271
This paper studies the optimal long-run public intervention in a two-period OLG model where the probability of surviving the first period and the length of the second period can be influenced by distinct policies. While the optimal size of public intervention depends on the extra-productivity of...
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contracts literature hold up to recent empirical evidence. Guided by theory, we arrange services according to the type and …
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We study the gains from trade in an economy with oligopolistic competition, firm heterogeneity, and innovation …. Oligopolistic competition together with free entry make markups responsive to firm productivity and trade costs. Lowering trade … incomplete pass-through of trade costs to export markups are strong enough to compensate for the increase in competition on …
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The paper studies the impact of government budget constraint in a pure adverse selection problem of monopoly regulation. The government maximizes total surplus but incurs some cost of public funds. An alternative to regulation is proposed in which firms are free to enter the market and to choose...
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