In a continuous time life cycle model of consumption with uncertain lifetime and no ''pure time preference", we use a non-parametric specification of rank dependent utility theory to characterize the preferences of the agents. From normative point of view, the paper discusses the implication of...

This article investigates the latest developments in longevity risk modelling, and explores the key risk management challenges for both the financial and insurance industries. The article discusses key definitions that are crucial for the enhancement of the way longevity risk is understood;...

This paper proposes a two-country model of migration in a transferable skill sector, where workers education is provided free of charge by governments. We study …firstly the non-cooperative equilibrium where the poor country decides on the education level and the rich country decides on the...

An increasing literature encourages the use of selective immigration policies as a tool to promote incentives to education. It is argued that, since not everybody is allowed to migrate, under these policies a poor country may well turn out with more human capital than in autarchy. The implicit...

By focusing on human capital investment, the Mexican Oportunidades program will influence the economic choices of the rural poor. To understand how beneficiaries may alter their behavior as a result of this intervention, this paper uses administrative data to analyze the economic activities of...

Capital (physical and human) doesn't flow from rich to poor countries. We show that in order to solve these twin paradoxes, assumption of externality of physical capital is better than assumption of externality of human capital.

The rate of return of education on wage is a well-known problem in economics since the 60's with the works of G. Becker and J. Mincer. The present master thesis discusses one of the main assumption of Mincer equation: the linearity of the rate of return of education. Working on the FQP 2003...

The article is devoted to management contradictions on modern reforms of higher education system. On the one hand, the higher education became a key factor of the human capital development. On the other hand, control system of development of the higher education becomes more and more oriented to...

The aim of this paper is to propose a new database allowing a comparative evaluation of the relative performance of schooling systems around the world. We measure this performance through pupils achievement in standardized tests. We merge all existing regional and international student...

In this paper, we analyse the human capital accumulation process over the life cycle of individuals under uncertainty. To do so, we develop a continuous time dynamic programming model which takes into account several sources of uncertainty, concerning the human capital accumulation process and...