We revisit the influential economic growth model by Lucas (1988) ["On the mechanics of economic development." Journal of Monetary Economics, 22(1):3-42], assuming that households optimally allocate consumption and education over the life-cycle given an exogenous interest rate and exogenous...

Schooling attendance improved significantly in Brazil, mainly for primary schooling. Attendance levels however are still deficient at secondary level; where dropout levels also worries policy makers. This paper aims to estimate the wage premium for secondary education attained by young workers...

This paper presents the treatment effects from participating in a subsidized vocational training program targeted at women residing in low-income households in India. We combine pre-intervention data with two rounds of post-intervention data from a randomized field experiment to quantify the 6-...

Immigrants can initially face significant difficulties integrating into the economy of the host country, due to information gaps about the local labor market, limited language proficiency, and unfamiliarity with the local culture. Settlement in a region where economic and social networks based...

This study presents the efficiency of tourism enterprises in the market economy, which is the essential condition of its existence. For this reason, economic and financial situation of the company is the basis of tourism taking all decisions and actions that commits additional expenses....

We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. The model has the notable feature that the underlying state...

This paper uses a structurally estimated macroeconometric model, denoted the MC model, to evaluate inflation targeting in the United States. Various interest rate rules are tried with differing weights on inflation and output, and various optimal control problems are solved using differing...

This paper uses a structurally estimated macroeconometric model, denoted the MC model, to evaluate inflation targeting in the United States. Various interest rate rules are tried with differing weights on inflation and output, and various optimal control problems are solved using differing...

We examine within a life-cycle set-up the choice of health and retirement. Health care contributes to a reduction in both mortality, determining the need to accumulate retirement wealth, and in morbidity, determining the disutility of work. The retirement age affects health through the value of...