In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change.

This paper analyzes the tendency of people to choose default options when offered courses to acquire job related skills. We ask a random sample of Dutch people aged 6-80 which three skills are most important in their (future or past) jobs. Further on in the survey, we randomly select one of the...

We investigate the spatial distribution of TFP growth rates using exploratory spatial data analysis and other spatial econometric techniques. Our sample consists of 73 countries and covers the period 1960-2000. We identify significant positive spatial autocorrelation in TFP growth rates,...

A non-trivial portion of traffic fatalities involve alcohol or illicit drugs. But does the use of alcohol and illegal substances—which is linked to depression, suicide, and crime—reduce academic performance? Recent studies suggest that drinking has a negative, if modest, effect on grades,...

Formal schooling increases earnings and provides other individual benefits. However, societal benefits of education may exceed individual benefits. Research finds that increased average education levels in an area are correlated with higher earnings, even for locals with relatively little...

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...

This paper analyzes optimal linear taxes on capital and labor incomes in a life-cyclemodel of human capital investment, financial savings, and labor supply with heteroge-nous individuals. A dual income tax with a positive marginal tax rate on not onlylabor income but also capital income is...

In this paper we employ techniques developed in spatial econometrics to analyse spatial patterns of technology diffusion, to detect clusters and to estimate theoretical models that incorporate space explicitly. These techniques correct for misspecifications resulting from the omission of spatial...

This paper reports evidence that an individual meeting with a study counselor at high school significantly improves the quality of choice of tertiary educational field, as self-assessed 18 months after graduation from college. The results are strongest among males and those with low educated...

The quality dimension of immigrant human capital has received little attention in the economic assimilation literature. The objective of this paper is to demonstrate how human capital acquired in different source countries may be adjusted according to its quality in the Canadian labor market....