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Asset Market Structure and Growth
Braila, Pighi; Turrini, Alessandro - Centro Studi di Economia e Finanza (CSEF) - 2000
via an example related to growth. Human capital investments occur in a risky environment, in that they are subject to … existing financial structure in transferring wealth over time.When the financial structure is complete, growth is indeterminate … incomplete, the growth rate depends on the payoff structure of the assets. An issue of optimality for the structure of asset …
Persistent link: https://www.econbiz.de/10005802049
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Assets, Human Capital, and Growth.
Braila, C.; Turrini, A. - Center for Operations Research and Econometrics (CORE), … - 1998
via an example related to growth. When the financial structure is complete, growth is indeterminate because individual … allocations between human capital and a tradable asset are indeterminate. When the financial structure is incomplete, the growth …
Persistent link: https://www.econbiz.de/10005634238
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The effect of the war on human capital in Ukraine and the path for rebuilding
Gorodnichenko, Yuriy; Kudlyak, Marianna; Şahin, Ayşegül - 2022
, population growth and fertility, and promotion of self-motivating mechanisms. …
Persistent link: https://www.econbiz.de/10013269735
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The effect of the war on human capital in Ukraine and the path for rebuilding
Gorodnichenko, Yuriy; Kudlyak, Marianna; Şahin, Ayşegül - 2022
, population growth and fertility, and promotion of self-motivating mechanisms. …
Persistent link: https://www.econbiz.de/10014320003
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Higher education funding, welfare and inequality in equilibrium
Mellior, Gustavo - 2020
This paper analyses theoretically and quantitatively the effect that different higher education funding policies have on welfare (on aggregate and at the individual level) and wealth inequality. A heterogeneous agent model in continuous time, which has uninsurable income risk and endogenous...
Persistent link: https://www.econbiz.de/10012664383
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Optimal taxation and debt with uninsurable risks to human capital accumulation
Gottardi, Piero; Kajii, Atsushi; Nakajima, Tomoyuki - 2014
We consider an economy where individuals face uninsurable risks to their human capital accumulation and study the problem of determining the optimal level of linear taxes on capital and labor income together with the optimal path of the debt level. We show both analytically and numerically that...
Persistent link: https://www.econbiz.de/10010433969
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Higher education funding, welfare and inequality in equilibrium
Mellior, Gustavo - 2020 - This draft: October 20, 2020
This paper analyses theoretically and quantitatively the effect that different higher education funding policies have on welfare (on aggregate and at the individual level) and wealth inequality. A heterogeneous agent model in continuous time, which has uninsurable income risk and endogenous...
Persistent link: https://www.econbiz.de/10012308010
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Life in shackles? : the quantitative implications of reforming the educational loan system
Heijdra, Ben J.; Kindermann, Fabian; Reijnders, Laurie S. M. - 2014
In this paper we conduct a quantitative analysis of a number of stylized educational loan systems. We develop a stochastic general equilibrium model of a closed economy with a competitive firm sector and a government that levies taxes and administers educational loans. Individuals are...
Persistent link: https://www.econbiz.de/10010418274
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Incomplete markets and parental investments in children
Abbott, Brant - 2021 - This draft: February 10, 2021
The effect of incomplete markets on parental investments is investigated. Uninsured risk and credit constraints can distort the timing of parental investments, causing them to be delayed relative to what would occur under full-insurance. Age-dependent subsidies, taxes or transfers can all...
Persistent link: https://www.econbiz.de/10012429690
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Trade, human capital, and income risk
Deng, Liuchun; Krishna, Pravin; Senses, Mine Zeynep; … - 2021
In this paper, we empirically assess the causal relationship between trade and individual income risk and study the role that human capital plays in this relationship using a rich, worker-level, longitudinal data set from Germany spanning from 1976 to 2012. Our estimates suggest substantial...
Persistent link: https://www.econbiz.de/10012800579