This paper examines the effect of differences in ability on the timing and number ofchildren. Higher skilled women have less disutility of labor and have relatively lessutility of raising children. Motherhood has a negative effect on the accumulation ofhuman capital by learning-by-doing and...

This paper investigates the relation between human capital andretirement when the age of retirement is endogenous. This relation isexamined in a life-cycle earnings model. An employee works full timeuntil retirement. The worker accumulates human capital by training-on-the-job and by...