Both educational expenditures and attainment have increased sharply over the last decades, despite rising prices of education, and stagnating income returns to human capital. This paper emphasizes conditional employment risks hedging as additional motivation for education demand. Job risk diversification through education is strongly evidenced in the data, yet is absent from the Human Capital (...

International capital flows have always been an important topic in international economics. Capital flows help a country exploit better investment opportunity and smooth consumption. Over the past few years, global current account imbalances have been at the forefront of policy debates. Large amount of research devotes to the study of net capital flows, while fewer works put their focus on gros...

The gap between the world's rich and poor countries largely comes down to the financial and physical assets that create wealth. Developed economies possess more of this capital than developing ones, and what they have usually incorporates more advanced technologies. The implication is clear: A key aspect of economic advancement lies in poorer nations' capacity to acquire more capital and scale ...

one of recent developments in modern societies is the evolution in the structure of power division in the family and changes in reciprocal actions between wife and husband. this research aims to study the factors affecting distribution of power in the family by using the theories of: social capital, valuable resources, and sociability of gender. the data has been collected through survey method...

The study was designed to analyze credit receipt and enterprise performance by small scale agro based enterprises in the Niger Delta region of Nigeria. A multistage sampling technique was adopted in selecting 264 agro based enterprises and 96 agro based enterprises that accessed informal and formal credit respectively. The Heckman model was used to examine the factors affecting amount of inform...

This thesis studies the macroeconomics of incomplete markets. Chapter 1 studies the effects of capital taxation in a dynamic heterogeneous-agent economy with uninsurable entrepreneurial risk. Unlike either the complete-markets paradigm or Bewley-type models where idiosyncratic risk impacts only labor income, here it is shown that capital taxation may actually stimulate capital accumulation. Thi...

This paper considers a Ramsey model of linear capital and labor income taxation in which the government cannot commit ex-ante to a sequence of policies for the future. In this setup, if the government is more impatient than the government, the capital income tax will always be positive in steady state. Thus, impatience and lack of commitment are able to generate positive capital taxes in the lo...

The paper assumes a continuum of two period-lived agents; agents are identical except for inherited income. Young agents allocate their inheritance between consumption and investment in human capital under uncertainty. In the second period they receive a wage proportional to the accumulated human capital and invest in offspring. Two main results arise: a low earning per unit of human capital le...