This paper addresses the questions of what is an economically efficient pension system, what are the externalities and … conclusion is that NDC is neutral in terms of externalities. It manages the risks and eliminates the negative externalities …

individual preferences and enjoy positive leisure-dependent externalities. For instance, a global sociological change where the …

the existence of these positive externalities for the US in 2000 in estimates using the Current Population Survey …

This paper provides a novel microeconomic foundation for pecuniary human capital externalities in a labor market model …

demonstrate that the decentralized market equilibrium is not efficient because of both search and network externalities. …

Identification of the strength of human capital externalities at the aggregate level is still not fully understood. The … existing method may yield positive or negative externalities even if wages reflect marginal social products. We propose an … approach that yields positive average human capital externalities if and only if the marginal social product of workers with …

-hopping facilitates the reallocation of resources towards firms with superior innovations, but it also creates human capital externalities …

We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities … externalities can help explain the dynamic process of offshoring, where the most productive firms offshore first and the others …