A number of trends are changing the nature of social risks and increase the importance of human capital, adaptability, and flexibility. This article discusses the usefulness of a life-course perspective in developing proactive social policies that better fit the changing life cycles of...

This paper presents a life-cycle model of woman's labour supply, human capital formation and savings for the evaluation of welfare-to-work and tax policies. Women's decisions are formalised in a dynamic and uncertain environment. The model includes a detailed characterisation of the tax system...

We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...

We identify the ages that constitute critical periods in children's development towards their adult health status. For this we use data on families migrating into Sweden from countries that are poorer, with less healthy conditions. Long-run health is proxied by adult height. The relation between...

Is lifetime inequality mainly due to differences across people established early in life or to differences in luck experienced over the working lifetime? We answer this question within a model that features idiosyncratic shocks to human capital, estimated directly from data, as well as...