We formulate a stylized structural model of health, wealth accumulation and retirement decisions building on the human capital framework of health and derive analytic solutions for the time paths of consumption, health, health investment, savings and …
Using newly collected data from the RAND American Life Panel, we examine potential explanations for the gender gap in financial literacy, including the role of marriage and who within a couple makes the financial decisions. Blinder–Oaxaca …
This paper examines the empirical link between labor market institutions and international business cycle synchronization. Using a data panel of 20 OECD countries over the 1964–2003 period, we evaluate how cross‐country labor market heterogeneity …
The paper investigates the international GDP synchronization within the international real business cycle framework (Backus, Kehoe and Kydland, 1992). It sheds new light on the comovement issue by highlighting the role of cross-country divergence in …
Dans une économie avec contraintes de liquidité, les individus ont plus de difficultés à créer leur entreprise faute d'un financement suffisant de la part des banques. Nous étudions l'effet de telles contraintes et aussi celle des coûts de …
We study the effects of liquidity constraints and start-up costs on the relationship between wealth and the fraction of entrepreneurs in an economy. We develop a dynamic occupational choice model that yields predictions that can be tested on …