We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

This paper employs a large scale overlapping generations (OLG) model with endogenous human capital formation using a Ben-Porath (1967) technology to evaluate the quantitative role of human capital adjustments for the economic consequences of demographic change. We find that endogenous human...

This chapter reports on the “economics of language” for immigrants—that is, the influence of language on the choice of destination among international migrants, the determinants among immigrants of destination language proficiency, and the labor market consequences of that proficiency, as...

This paper employs a large scale overlapping generations (OLG) model with endogenous education to evaluate the quantitative role of human capital adjustments for the economic consequences of demographic change. We find that endogenous human capital formation is an important adjustment mechanism...

We combine two empirical observations in a general equilibrium occupational choice model. The first is that entrepreneurs have more control than employees over the employment of and accruals from assets, such as human capital. The second observation is that entrepreneurs enjoy higher returns to...

This paper explores the theoretical issues and the empirical literature regarding the selectivity of migrants. Although the primary focus is on international migration, reference is made to internal migration and return migration. The theoretical analysis indicates a tendency toward the...

This paper provides a review of the research on the ‘economics of language' as applied to international migration. Its primary focuses are on: (1) the effect of the language skills of an individual on the choice of destination among international (and internal) migrants, both in terms of the...

Can educational institutions explain occupational choice between wage employment and entrepreneurship? This paper follows Lazear's (2005) Jack-of-all-trades hypothesis according to which an individual with a more balanced set of abilities is more likely to enter into entrepreneurship. In the...

Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity with falling rates of return to capital and increasing...