Entrepreneurship is usually identified as an important determinant of aggregate productivity and long-term growth. The determinants of entrepreneurship, nevertheless, are not entirely understood. A recent literature has linked entrepreneurship to the development of the justice system. This paper...

We study the role of formal institutions of contract enforcement in facilitating investments in small and medium firms(MSME). In a framework where established entrepreneurs can enforce contracts informally using their network ties and hierarchical advantage, we argue that an efficient formal...

This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks on an 11-point scale, we find...

In Sweden, children typically start compulsory school the year they turn seven. Hence, individuals born just before or just after the new year, have about the same date of birth but start school at different ages. We exploit this source of exogenous variation, to identify the effects of age at...

Using 1994-98 International Adult Literacy Survey (IALS) microdata, this paper investigates the impact of employment protection laws on the incidence of temporary employment by demographic group. More stringent employment protection for regular jobs is predicted to increase the relative...

This study examines the extent, duration and timing of employment breaks amongst a large representative sample of Jewish workers in Israel over the 13-year time period, 1983-1995. Work histories are constructed from a new joint database, unique in Israel, which was derived from a linkage of 1995...

With 1582 respondents from the Health and Retirement Survey (HRS), this study investigates the heterogeneity in older adults' vulnerability and examines the relationship between vulnerability types, aging attitudes and emotional responses. International Positive and Negative Affect Schedule...

This paper explores whether the experience of a severe recession during early adulthood shapes individuals' prosocial attitudes. The analysis uses survey responses to experimentally validated questions that measure prosocial attitudes for approximately 65,000 respondents in 75 countries. The...

This paper examines the understudied effect of relative age on mental health in adulthood. Our empirical analysis utilizes nationwide Finnish register-based data on mental health, encompassing a spectrum of conditions from severe to less severe mental health problems. To identity causal effects,...

Over the past decades, many European countries have raised the minimum legal drinking age (MLDA) from 16 to 18 years. This study provides novel evidence of the impact of this policy on educational outcomes by exploiting the staggered timing of MLDA changes across Spanish regions. Raising the...