We consider a dynamic allocation problem under alternative insurance and capital market regimes and proper risk aversion separate from intertemporal substitution. We apply the model to study the effect of one-size-fits-all transfers. We find that one-size-fits-all transfers can have different...

We investigate the size of the mark-up on the lending rate for endowment mortgages, due to expected prepayment by the borrower. For this type of mortgage, prepayment is mostly the result of mobility in the housing market. We control for the risk of default by using a unique data set of Dutch...

This paper contributes to the important policy related literature on income and health by providing a detailed investigation of the family income/child health relationship using matched parent–child survey data from the Swedish Survey of Living Conditions (ULF). This study differs from...

Land and market imperfections shape the organization of agricultural production and lead to different production regimes within rural farm households in South Africa. This paper presents a theoretical model to explain the presence of three main households groups (classes) determined on the basis...

This paper theoretically examines the mechanism of the occurrence of gtwin deficitsh, which means that the budget balance influences the current account, and quantitatively analyzes the probability of the occurrence. Specifically, the author studies the cases of Japan and the U.S. to demonstrate...

This paper investigates why so many people are premium payment defaulters or dropouts from the national pension system using household-level data from a Japanese Government Survey. The major results can be summarized as follows: (1) the dropout probability of younger cohorts does not differ...

We estimate the impact of schooling and capital constraints at the time of startup on the performance of Dutch entrepreneurial ventures, taking into account the potential endogeneity and interdependence of these variables. Instrumental variable estimates indicate that a 1 percentage point...