preferences but in addition on the technological possibilities to enhance human capital due to productive consumption, (d) a …

stock of human capital. Second, productive consumption is interpreted as increasing the efficiency of labour. Both …

. We find that emigration and human capital both increase democracy and economic freedom. This implies that unskilled … once incentive effects of emigration on human capital formation are accounted for. …

. We find that emigration and human capital both increase democracy and economic freedom. This implies that unskilled … once incentive effects of emigration on human capital formation are accounted for. …

Endogenous time discounting is introduced in a two-period human-capital-driven growth model: subjective discount rate … depends upon the level of human capital. This assumption accords strongly with the micro-level evidence. In the model an … individual optimizes consumption over two periods. Low human capital societies do not grow fast since high discount rate …

. We find that emigration and human capital both increase democracy and economic freedom. This implies that unskilled … once incentive effects of emigration on human capital formation are accounted for …

necessarily arise from a complementarity between physical and human capital in manufacturing. Instead, we emphasize the demand for … human-capital-intensive services by high-income groups. Our model seems capable to account for salient features of the …