The paper attempts to explain a U-shaped pattern of return migration rates with respect to educational attainment. We develop a two period OLG model with emigration and return migration decisions undertaken by agents heterogeneous in terms of educational attainment. The immigration policy is...

I study the choice of technology adoption in an environment where human capital is transmitted from the old to the young generation, but the young generation can opt out for a new technology. The adoption and matching decisions are made in a sequential intergenerational bargaining. Since...

I present a model in which randomly matched pairs of people bargain over the division of output in each period. Output can be consumed or stored for later consumption. People are identical except possibly in wealth (i.e., the stored output). The one-period utility is linear except for the...

I present a model of a proprietary regime with opportunities for direct production (e.g.,plantation cultivation, mining extraction). The premise is that direct production is a superiormethod of appropriation than taxation. The tax and spending policy of the regime distorts the resource...

I present a model in which the employment contract includes severance payment as an instrument for achieving optimal separation between the firm and the worker. I show that the privately optimal severance payment from the model can replicate the level and the variation in actual severance...

Mobility restrictions (e.g., severance payment, life-long tenure, and divorce ban) are widely observed. This paper is an attempt to understand why there are these restrictions. I present a model economy that features production teams and focuses on the search for partners and the formation and...

Bad policies (i.e., policies harmful to private producers such as excessive taxation, arbitrary confiscation, and negligence of pubic goods) are observed in quite a few countries. These countries tend to have autocratic regimes.I explore a reason why bad policies may benefit autocrats.I present...

We show that the business education/occupations have expanded and that the technical education/occupations have contracted in the Czech Republic and Poland since 1990. We interpret these changes as an adjustment necessary for their transition to a market economy. We do not find the same pattern...