studies analyzing the relative capital-skill complementarity hypothesis formulated by GRILICHES (1969). According to this … hypothesis, the degree of substitutability between skilled labor and capital is lower than that for unskilled labor and capital …

We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology …, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial … development. It affects human capital through both religious and secular education. It affects population and labor by influencing …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …-cycle theory. For retirees we also find significant effects of the income reduction at retirement on housing. However, the effects …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that labor market participation and retirement behavior in general are strongly influenced by the level …