Over the past century, all OECD countries have been characterized by a dramatic increase in economic conditions, life expectancy and educational attainment. This paper provides a positive theory that explains how an economy might evolve when the longevity of its citizens both influences and is...

The building blocks of our model are bounded-rational actors with specific sets of endowments: 'entrepreneurial spirit', human capital and venture capital. The entrepreneurial behavior to found a firm is triggered by the individuals' endowments, their social network and the evaluation of the...

We construct an overlapping generations model for an open economy where hours worked, human capital accumulation, income and welfare are all endogenous. Within each generation we distinguish individuals with high, medium or low innate ability. These differences in ability explain inequality in...

We have developed a multi-period computable endogenous growth overlapping generations model generated by the accumulation of human capital. To study whether ageing itself and policy reform that aims to cope with aging make any quantitative impact through human capital formation on the Japanese...

This article examines how different factors influence the number of times articles in the five most recognized transportation journals are cited. The effects of most of the explanatory variables indicating the characteristics of articles, authors and journals correspond with earlier studies of...

Unconditionally, pushed spin-offs are found to survive longer than their pulled counterparts. Using matched employer–employee data and novel multivariate decomposition techniques, we show that pushed spin-offs’ relative survival advantage is mostly explained by their larger human capital...

This paper examines effects of schooling on wages instrumenting for individual schooling using cohort-level maternal schooling from previous censuses. Results suggest that an additional year of schooling increases hourly wages by 10 percent for men and 12.6 percent for women.

We build an overlapping generations model in which reproductive households face a child quantity–child quality trade-off and bureaucrats are delegated with the task of delivering public services that support the accumulation of human capital. By integrating the theoretical analyses of...

I propose a new explanation for the large productivity gaps between agriculture and nonagriculture observed in developing countries, namely that the elasticity of substitution between skilled and unskilled workers is higher in agriculture than in nonagriculture. I estimate the elasticities in a...

In this paper, we model an overlapping generation economy affected by an unexpected immigration shock and determine how households may insure themselves against “immigration risk”. We use the model to study the impact of immigration on (i) the welfare of different generations, (ii) the...