This paper uses the Auerbach-Kotlikoff Dynamic Life-Cycle Model (AK Model) to examine the macroeconomic and efficiency effects of privatizing social security. It also uses a simple privatization proposal, the Personal Security System, as a framework to discuss a number of other issues associated...

Innovative activity is highly concentrated in a handful of advanced countries. These same countries are also the major exporters of capital goods to the rest of the world. We develop a model of trsde in capital goods to assess its role spreading the benefits of technological advances.

Generational accounting is neoclassical economics' prescription for doing long-term fiscal planning and analysis. Unlike the short-term, cash-flow budgeting that characterizes fiscal policy-making throughout the developed and developing world, generational accounting considers the entire future...

The modernization process taking place in developing countries points to the fact that female mobility is on the increase. This paper examines the labour force participation behaviour and earnings of women of migrant households. The households were identified during the course of field work...

In a three-country framework, with one innovating country, we study the incentives of non-innovating countries to extend patent pro- tection to the innovator's intellectual property. I assume that non- innovating countries differ with respect to their market sizes and/or imitative capabilities....

Our recent work examines the links among innovations, technology, trade, and growth. One strand focuses on research activity, technology diffusion, and growth. The other examines technology and trade. In this paper we exploit the common treatment of technology in these two strands to provide a...

The paper studies the competitive strategies of two informal lenders, traders and landlords, in the provision of credit to tenants. Each lender has a distinct market or enforcement advantage. It is shown that when lenders compete 'directly', i.e. in contracts, the landlord has the 'interlocker's...