We analyze the implications of labor market reforms for an open economy's human capital investment and future …

incomes in the east have now reached the western level, and investment per capita has been much higher than in the w est …. However, every third deutschmark spent in the east has been coming from the west, investment in equipment has fallen below the … west Germany. Excessively high wages coupled with investment incentives that made the cost of capital negative rank high …

utility function whose arguments are consumption and investment. They desire to accumulate wealth for its own sake - this is …

privatization effects on savings in Eastern Europe, with limited evidence of positive savings effects in Latin America. These …

risk of workers, which mitigates their precautionary savings motive. Using a quantitative model analysis, we show that this …