This paper uses an overlapping generations model with international labor mobility and apolitically responsive fiscal policy to examine aging in developed and developing regions.Migrant workers change the political structure composed of young and elderly voters in bothlabor-receiving and...

We estimate the relative contribution of mobile scientists who leave academia for the privatesector on the subsequent innovative performance of the firms they join. We use data on thepopulation of Danish firms and their R&D workers for the period 1999-2004 and measureinnovation performance by...

We study the mapping between labor mobility and industrial innovative activity for thepopulation of R&D active Danish firms observed between 1999 and 2004. Our studydocuments a positive relationship between the number of workers who join a firm and thefirm’s innovative activity. This...

We analyze the role of risk-sharing institutions in transitions to modern economies.Transitions requires individual-level risk-taking in pursuing productivity-enhancing activitiesincluding using and developing new knowledge. Individual-level, idiosyncratic risk implies thatdistinct risk-sharing...

We develop entrepreneurship and institutional theory to explain variation in different types ofentrepreneurship across individuals and institutional contexts. Our framework generateshypotheses about the negative impact of higher levels of corruption, weaker property rightsand especially...

Using firm-level data from nine developing countries we demonstrate that (a) certaininstitutions like restrictive labour market regulations that are considered to be bad foreconomic growth might be beneficial for production efficiency, whereas (b) good businessenvironment which is considered to...

Evidence about job mobility outside the U.S. is scarce and difficult to compare crossnationallybecause of non-uniform data. We document job mobility patterns of collegegraduates in their first three years in the labor market, using unique uniform data covering 11European countries and Japan....

This paper examines the effect of global transition to simpler, flatter income tax systems onthe size of the shadow economy. By offering a new estimation framework, the paper revivesthe traditional electricity consumption approach to measuring the shadow economy. Itovercomes the limitations of...

We analyze how an entry regulation that imposes a mandatory educational standard affectsentry into self-employment and occupational mobility. We exploit the German reunification asa natural experiment and identify regulatory effects by comparing differences betweenregulated occupations and...

The financial crisis has re-ignited the fierce debate about the merits of financial globalizationand its implications for growth, especially for developing countries. The empirical literaturehas not been able to conclusively establish the presumed growth benefits of financialintegration. Indeed,...