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Fertility is a main driver and outcome of long-term growth. Yet, fertility may not only interact with the level of … income but also with its volatility. In pre-modern economies where formal social security was largely absent, fertility … transition in the United States covering the period 1870 to 1930 and explore whether variation in fertility among American …
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I study how firms' labor hoarding, driven by their reliance on firm-specific human capital, affects their hedging of other business risks. Leveraging German administrative data on short-time work, combined with matched employer-employee data and firm financial information, I develop a firm-level...
Persistent link: https://www.econbiz.de/10015115099
Hanushek et al. (2021) test how country-level measures of patience and risk-taking from the Global Preference Survey predict student performance on the Programme for International Student Assessment (PISA) math test. They find that country-level patience positively predicts math test scores and...
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Demographic change belongs to the mega-trends of the 20th and the 21st century. The ongoing aging process in major industrialized countries gives rise to the relative scarcity of raw labor and the relative abundance of physical capital. Standard macroeconomic models suggest that this depresses...
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This paper uses a model with overlapping generations to demonstrate that human capital accumulation can potentially attenuate factor price movements in response to birth rate shocks. Specifically, we show that if education spending per child is inversely related to the size of the generation,...
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