The difficulty or inability to borrow made capital market constraints an important part of the decision of potential emigrants to move from Europe to North America. We formalize the constraint with a life-cycle model, where agents jointly choose the optimal period of saving to finance migration...

The difficulty or inability to borrow made capital market constraints an important part of the decision of potential emigrants to move from Europe to North America. We formalize the constraint with a life-cycle model, where agents jointly choose the optimal period of saving to finance migration...

Human Capital and Institutions brings to the fore the role of political, social, and economic institutions in human capital formation and economic growth. Written by leading economic historians, the chapters in this text offer a broad-based view of instit