The allocation of UK personal sector wealth across five broad asset categories (net financial wealth, housing (and durable assets) wealth, state pension wealth, private pension wealth, and human capital) is investigated using the FAIDS (financial AIDS) model. Apart from total wealth and returns, additional variables relating to capital market imperfections, and demographic, labour market and cr...

Many self-employed workers return to the wage and salaried sector of the labor market after some time. It is possible that the self-employment spell will lead to lower earnings or earnings growth upon return, due to depreciation of firm or sector-specific human capital. Using longitudinal data from the NLS, this paper examines the effects of spells of self-employment on the future wage and sala...

This paper provides a two-sector perspective for analyzing the effects of sectoral investment pattern on output growth. The two sectors are transformation and transaction. China and India are used as the empirical cases. We find that the rate differentials in real GDP growth between China and India tend to be positively correlated with the relative share of total investment that take place in t...

An endogenous growth model is developed to explore the effect of work and income sharing (WIS) on economic growth and welfare in a developing rural economy. The practice of WIS is a mechanism which converts incremental diversity of risk into volatility reduction and overall welfare gain. However, the effect on economic growth is sector specific. WIS in the intermediate goods sector has a pro-gr...

This paper studies the labor market in Vietnam during the transition towards market economy (1993-2006): we show that the public-private sector wage gap markedly increased, but that wage inequality decreased overall. Our aim is to assess how much of this evolution can be explained by workers’ productive skills and their allocation between sectors. We use a simple, yet innovative, method that al...