This paper develops a model with overlapping generations, where the household's optimal fertility, child labour, and education decisions depend on the parents expectations or beliefs about the return to education. It is shown that there exists a range of parental income where the fertility rate...

"This paper develops a dynamic model with overlapping generations where there are two possible equilibria: one without child labor, and one with it. It is shown that intergenerational transfers can eliminate the child labor equilibrium and that this intervention is Pareto improving. However, if...

This paper presents a model in which opportunity differences within society result in child labour, where 'opportunity' is broadly defined but can include school quality, access to higher paying jobs, access to information about the returns to education and actual discrimination. If opportunity...

Cross-country studies of education and economic prosperity often reach conflicting results when using growth rates as the measure of economic development. However, growth rates lack persistence over time and may not accurately measure long-term economic success over relatively short economic...

This paper examines the intergenerational costs and benefts of environmental regulation in the context of climate change. We believe this issue has not been adequately addressed in comparison with the search for efficiency-induced outcomes in the relevant literature. The cost-benefit analysis...

The question of whether financial intermediation has a first order effect on the development process has long been debated. There have also been questions about the ‘robustness’ of the empirical results that suggest financial development does indeed have a first order effect. This paper...