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In this paper, we study the role of risk-sharing in entrepreneurship-driven innovation. Studying entrepreneurship and innovation entails modeling an occupational choice and an effort choice. Risk-sharing may increase the number of individuals who become entrepreneurs by limiting the downside...
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.g. leverage and risky assets). Our estimates imply that softer monetary policy increases income inequality. …
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relationship between inequality of entitlements, mortality risk, and the size of redistribution in a stylized social security …In most OECD countries, pension reform policy has decreased the level of intragenerational redistribution over the last … three decades, that is, redistribution among members of the same generation with high and low pension entitlements. This …
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With heightened uncertainties and moderating global and Western European growth and oil prices, and volatile capital flows, Russia is likely to grow by 4.2 percent in 2010, followed by 4.5 percent in 2011 and 3.5 percent in 2012 as domestic demand expands in line with gradual improvements in the...
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and coherent theory of economic growth. Research in growth theory has demonstrated that significant and systematic … many obstacles that the creation of wealth may encounter. The current essay surveys cutting-edge research on growth theory …, in any case, they call for a reexamination of growth theory. …
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