The topic of the relationship between human capital and economic growth has been intensively examined in empirical studies since the 1980s. Although the positive impact of education and human capital on growth has been repeatedly confirmed, there are still doubts about the strength and probable...

The aim of this article is to explore main linkages among the participation rate, potential output and pension funding system. Based on the existing literature, there are several possibilities how to render the current set-up of the pension system sustainable. This sustainability is...

Economic growth of the Czech Republic measured by GDP reached 3,4 % per annum in the decade 2001-2010 and was substantially faster than average annual growth of the European Union. Strong acceleration in the years 2005-2007 was followed by stagnation in the years 2008-2012 caused by strong...

Governments usually try to use fiscal instruments to support the families with children. However, fiscal instruments also affect the work effort and labour demand. Problems associated with (de)stimulantive effects of taxes, insurance premia and benefits arise, among other things, also due to the...

This paper investigates the effects of a decrease in fixed costs on the division of labor within firms. In the constant markup rate model, a decrease in fixed costs curbs the division of labor. In the short run, the division of labor is promoted through labor reallocation within firms while in...

We estimate the impact of international trade on wages using data for French manufacturing firms. We instrument firm-level trade flows with firm-specific instrumental variables based on world demand and supply shocks. Both export and offshoring shocks have a positive effect on wages. Exports...

We identify a key role of factor supply, driven by demographic changes, in shaping several empirical regularities that are a focus of active research in macro and labor economics. In particular, demographic changes alone can account for the large movements of the return to experience over the...

The search-and-matching model of the labor market fails to match two important business cycle facts: (i) a high volatility of unemployment relative to labor productivity, and (ii) a mild correlation between these two variables. We address these shortcomings by focusing on technological...